5 Critical Tax Tips For Nonprofits in 2019

No one enjoys filing taxes, but it can be especially problematic for nonprofits. Many nonprofits focus on their cause so much that they neglect proper organization. As a result, they deal with disorganized records and systems, and a lack of clarity around tax issues....


For a business owner, taxes can be overwhelming and cumbersome. Tax deductions allow you to save thousands of dollars each year on your taxes and make tax filing a much more bearable experience. In this post, we'll list some of the tax deductions you can use to...

The Smart Business Owner’s List Of Tax Credits

One of the best ways to cut costs as a business owner is to take advantage of all the tax deductions and tax credits for which you're eligible. As a business owner, you're concerned with the bottom line--increasing your net profits. That probably means you spend most...

PRESS RELEASE: Cassidy Jakovickas, CPA of Fresno, CA Appointed to Intuit’s Accountant Council

Select Panel Advises on Products and Services that Accountants and Their Clients Want Most             FRESNO, CALIFORNIA – June 4, 2019 –Today, Intuit, Inc (Nasdaq: INTU) announced that Cassidy...

Beyond The Numbers: What We’ve Been Reading

Although our team loves using numbers and spreadsheets to help our clients make the best financial decisions, we also enjoy reading great books. Staying well read on both fiction and non-fiction books helps us hone our imagination and introduces us to new, sometimes...

Looking Back At April

It’s hard to believe that we’re at the end of April, but it’s true! This month, we helped our clients wrap up another great (and busy) tax season. There was, as always, a lot of paperwork, emails, and nail-biting involved in the days preceding April 15, but that’s all...

5 Last-Minute Tips For Filing Taxes in 2019

Well, April 15 is almost here, and the tax-related panic is thick. If you haven’t filed your 2018 tax paperwork and are rushing to get your taxes in by the deadline, we’ve decided to give you some last-minute tax advice that will hopefully help ease your stress....

An Introduction To Cybersecurity for Business Owners

Keeping your sensitive business and customer data secure has never been more critical. Whether you are a small business or a national corporation, you can't relax your defenses against those criminals seeking to take advantage of lazy cybersecurity policies. Virtually...

March News Roundup

Wow! It seems like we just started March and we’re already moving into April! As we move into the final stretch of tax season, we’re recapping this month’s news for you, just in case you missed it amid the tax-related hubbub. MBS Accountancy: November Review This...

4 Key Changes To Depreciation Under The TCJA

As the Tax Cuts and Job Act (TCJA) continues to be unraveled by tax professionals, it’s important to review the changes and their implications on business operations and tax strategies. In this article, we’ll highlight TCJA’s changes to first-year bonus depreciation,...

Don’t Overlook These 5 Business Deductions As You File for 2018

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As the old saying goes, “you gotta spend money to make money”. The topic of expenses and deductions is likely a major part of your meetings and discussions with your CPA (if you don’t have a CPA, read this) in these first months of 2019. In this article, we’ll list five business expenses to discuss with your CPA as you plan for your 2018 tax filing day.

Membership Fees In Professional Clubs & Organization

This deduction only applies to clubs and organizations that are directly related to your profession (trade organizations, etc.), not golf clubs or airline clubs. These fees would be reported on either Schedule C or Form 1065, depending on your business type.

Employee Education & Training

Any costs incurred in keeping yourself and your employees current on the best practices in your industry is important and – fortunately – deductible on your business taxes. This is considered a “fringe benefit” for your employees and are reported on either the Schedule C, Form 1065, or Form 1120, depending on your business type.


Though income tax payments are never deductible, there are a number of taxes that are deductible. For instance, you can deduct portions of your payroll taxes (typically only the employer portion), license taxes, import or customs tax, and taxes on business-related travel expenses.

Business Debt Interest

You are also able to deduct the cost of interest on business debts, though this has been limited by the 2017 tax reform. For 2018, companies who have an annual gross income of at least $25 million are only able to deduct up to 30% of their EBITDA.

Advertising Expenses

Costs for advertising and other marketing activities are deductible, along with any meal costs or entertainment at public events for marketing purposes. It’s important to note that advertising costs are not selling costs. Discuss this deduction with your CPA if you have any questions.



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