Tag Archives: Tax tips

Tax Tips for the 2017 Tax Year

Posted on December 6, 2017 by Camron Hoorfar

Here are a few end of the year tax tips for 2017 before the new year: Take steps to accelerate your deductions Maximize your retirement contributions Bulk up your estimated tax payments Meet with your tax adviser If you are … Continue reading →

Posted in General | Tagged , , , , , , , , , | Leave a comment

Deductible Sex Changes

Posted on August 17, 2017 by Camron Hoorfar

One exception to deducting medical expenses for changing one;s appearance is that taxpayers have been allowed a deduction for a sex change operation. The taxpayer in the O’Donnabhain case was diagnosed with a gender-identity disorder because he felt he was … Continue reading →

Posted in General | Tagged , , , , , , , , , | Leave a comment

Things To Do with Your Income Tax Refund

Posted on March 21, 2017 by Camron Hoorfar

Each year, around this time, you may be getting a tax refund.  Instead of spending it on a big screen TV or a new IPhone, here are a few other things to spend your refund on: Start a savings account … Continue reading →

Posted in General | Tagged , , , , , , , , | Leave a comment

Do You Believe in Miracles

Posted on February 24, 2017 by Camron Hoorfar

The United States Olympic Committee awards cash prizes for bringing home the gold, and silver and bronze. These prizes are taxable despite complaints from lawmakers that, like the games themselves, roll around every couple of years. However, for most athletes … Continue reading →

Posted in General | Tagged , , , , , , , | Leave a comment

No Tax Refunds until February 15, 2017

Posted on January 23, 2017 by Camron Hoorfar

Due to a new law, the IRS will not be issuing tax refunds on the Earned Income Tax Credit and the Additional Child Tax Credit until February 15, 2017.  The IRS will hold the entire refund until February 15, 2017. … Continue reading →

Posted in General | Tagged , , , , , , , , , | Leave a comment

End of the Year Tax Tips

Posted on December 5, 2016 by Camron Hoorfar

According to Xero.com, here are a few end of the year tax tips for everyone to consider: Determine employee bonus payments and withhold the required tax amounts. Pay all vendors by year end. Prepare all payroll records. Review your profit … Continue reading →

Posted in General | Tagged , , , , , , , , | Leave a comment

Children: All for the Sake of the Tax Breaks

Posted on August 25, 2016 by Camron Hoorfar

Hiring your kids at your business can have many benefits from teaching kids valuable life skills to getting some awesome potential tax breaks. First, payroll and unemployment taxes may not apply. If you run a single-member LLC, a spousal partnership, … Continue reading →

Posted in General | Tagged , , , , , , , , | Leave a comment

Ways to Get Paid

Posted on August 11, 2016 by Camron Hoorfar

While there are many ways to pay the IRS, there are only a few methods to get money out of the IRS. The first method, direct deposit, is the most popular and most-favored by taxpayers.  It is a free service … Continue reading →

Posted in General | Tagged , , , , , , , , , , | Leave a comment

Your Shopping Habit is NOT Tax Deductible

Posted on July 19, 2016 by Camron Hoorfar

While it may seem that the clothes you have to wear to work every day should be allowed as an unreimbursed employee business expense, more than likely the IRS is going to tell you no. There are strict guidelines that … Continue reading →

Posted in General | Tagged , , , , , , , , | Leave a comment

Protecting Americans from Tax Hikes

Posted on July 14, 2016 by Camron Hoorfar

The IRS will be implementing new plans for processing tax returns for the 2017 filing season. The Protecting Americans from Tax Hike Act will no longer allow the IRS to issue credit or refunds to early filing tax payers if … Continue reading →

Posted in General | Tagged , , , , , , , , , , | Leave a comment