Tax Day – In the Rearview
So you made it through April 15th and hopefully your refund will be hitting in the next 10 days or so like I have been seeing the average be. Unfortunately though, for many, April 15th is a dreaded day because it is check writing time to make sure a decent estimate is paid in with the extension, or a last minute return. It is usually about April 14th when you realize that you need to get your things together and get your return done and your stress levels sky rocket. That being said, most people assume April 16th is the day we are on the first flight to warm weather and blue water since it is all over. In reality though, we just keep things going. April 15th causes a lot of business owners, and individuals with complicated tax situations, to realize they need help, and come see us. We spend the next few months meeting with clients about their record keeping, 2013 tax situation, and tax planning for 2014. What we find is that as a business owner or busy individual (as we all are), you are driven to do more, sell more, make more contacts, and close more deals while at the end of the day (or year, for some) the LAST thing you want to do is sit and do your bookkeeping or even THINK about tax! That is where we come to the rescue. We frequently discuss with our business owners the need to maintain an accurate set of books for decision making and profitability, and how important it is to review these items on a regular basis. We also know how hard it is when you are small and still growing, so we educate our clients on how to streamline the process if they are doing it themselves or how we can work together on all levels if they need help. So don’t wait until October if you have filed an extension! Get things in order in the coming months and it will leave you more time to act on your plans for growth and saving some tax at the same time. Did you know? For all of you home office business owners, the IRS now allows a simplified method for taking your home office deduction. In general terms you get a $5/sq ft (limited to 200 sq ft) deduction regardless of actual costs. There is no depreciation or later recapture of the depreciation, and you still get to take your full interest and taxes on Schedule A. Make sure you like us on and be sure to send in some topics or questions you would like addressed in the next...
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Welcome to Burg and Company’s blog! We’ll keep this updated with news and information that will help you keep up and stay prepared in the world of accounting, business, and tax. We would love to have your input along the way and hear any questions you have, so let us know! Like us on Facebook to be notified when we update our blog! ...
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