2022 Gift Tax Rate: What It Is, How It Works and Who Has to Pay It
During our lifetime, you always want to give the best things to your beloved ones. And while sending valuable gifts to your spouse,...
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Hannah Nguyen
- Jan 5
- 4 min
IRS Home Office Tax Deduction for Small Business Owners - Help you Reduce Tax Bill
Has the coronavirus led you to start a business or become your own boss this year? If you are a small-business owner and use part of your...
687 views1 comment
Miley Nguyen
- Jan 26, 2021
- 2 min
1099-NEC and 1099-MISC: Do I use 1099 MISC or 1099 NEC?
In 2021, the IRS has introduced the new Form 1099-NEC to reporting independent contractor income.
99 views0 comments
Tammy Hoang
- Sep 17, 2020
- 3 min
The differences of Enrolled Agent vs. CPA
Both EAs and CPAs are granted unlimited representation rights to represent taxpayers before the IRS.
29 views0 comments
Tammy Hoang
- Aug 3, 2020
- 2 min
Keep Smart Records To Audit-Proof Tax Return
“Audit-proofing” your return means documenting deductions so that you can prove them if you’re audited. Today’s historically low audit...
6 views0 comments
Tammy Hoang
- Aug 1, 2020
- 2 min
IRS Tax Tips: How to troubleshoot after-tax-day issues
Tax deadline to file and pay federal income taxes deadline is now behind us. However, some taxpayers still facing certain problems after...
21 views0 comments
Tammy Hoang
- Jul 28, 2020
- 2 min
4 changes on 2020 tax deduction
The tax season is here again! This year, the IRS announced 4 recent changes in tax laws that can save you a lot. 1. Individual Income Tax...
19 views0 comments
Tammy Hoang
- Jun 29, 2020
- 3 min
Inventory vs Cost of Goods Sold
Inventory Companies that are in the manufacturing and selling of physical goods industry are required to record Inventory as an ASSET in...
6,516 views0 comments
Tammy Hoang
- Jun 23, 2020
- 2 min
Three-Way Reconciliation Of Your Trust Account
At the end of every month, it is time for you to reconcile your trust bank account. This lets you confirm that your transaction records...
1,732 views0 comments
Tammy Hoang
- Nov 28, 2017
- 1 min
Three Main Strategies for Cutting Your Tax
The goal of tax planning is to arrange your financial affairs in order to minimize your taxes. Here are three tax-cutting strategies that...
44 views0 comments
Miley Nguyen
- Nov 10, 2017
- 3 min
Deducting Business Expenses
Business expenses are the cost of conducting a trade or business. These expenses are usually deductible if the business operates to gain...
56 views0 comments
Anna Dang
- Sep 25, 2016
- 2 min
How to Start Tax Planning
If you want to pay the least amount of income tax each year, then it may be helpful to start doing some tax planning. Don’t worry - you...
24 views0 comments
Anna Dang
- Aug 18, 2016
- 7 min
10 Tips for Getting the Biggest Tax Refund
Tax refunds can feel like Christmas in springtime. With a sudden boost to your bank account, you can look forward to going on a shopping...
23 views0 comments
Anna Dang
- Aug 17, 2016
- 2 min
10 Money-Saving Tax Tips for the Self-Employed
You’re in business for yourself, running your own show and being your own boss. You’re also following all the regulations required of a...
10 views0 comments
Anna Dang
- Aug 4, 2016
- 3 min
Five Rules for Writing Off Meals and Entertainment Costs
Many business owners believe that just because there is a line item on the tax return for meals and entertainment deductions that just...
22 views0 comments
Anna Dang
- Jul 28, 2016
- 2 min
Five Tips For Avoiding a Tax Audit
Taxes are a necessary evil - the price we pay for roads, bridges, schools and law enforcement. Audits, on the other hand, feel just plain...
12 views0 comments
Anna Dang
- Jul 19, 2016
- 3 min
Six Ways to Reduce Your Taxable Income
If you paid way too much in taxes this year, I have a simple solution for you – reduce your taxable income, and you will reduce your...
12 views1 comment
David Wang
- Nov 8, 2015
- 2 min
TAX TIPS FOR SMALL BUSINESS
Tax season is around the corner and whether you’re filing as an LLC or S Corp, you want to get the most savings possible. Here are some...
26 views0 comments
David Wang
- Nov 5, 2015
- 5 min
Choose the right organization
In order for your donation to be deductible, it must go to a nonprofit group that is approved by the IRS. Most often, these are...
12 views0 comments
David Wang
- Oct 26, 2015
- 3 min
GUIDES TO KEEP RECEPTS ORGANIZED FOR TAX TIME
Maybe you stash them away in a shoebox. Or maybe you keep them in your wallet until it can’t fit any more. That’s right, I’m talking...
21 views0 comments