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A Guide To Form 990 For Tax-Exempt Organizations

What is Form 990? Although many nonprofit organizations are exempt from paying federal taxes, the IRS requires tax-exempt organizations to file Form 990 for informational purposes. The IRS uses this informational return to determine whether you're still exempt from...

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....

THE SMART BUSINESS OWNER’S LIST OF TAX DEDUCTIONS

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...

How to make filing your 2015 taxes a stress free experience

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Just saying the word taxes is enough to make some people cringe. Taxes have existed for much of  human civilizations, and no matter how much you may dislike paying your taxes or how confusing the tax code may seem to you, the bottom line is that they aren’t going anywhere. April 15th is just around the corner.  s we enter the 2015 holiday season, now is the time to start thinking about your expenses from the past year and to take care of any last minute needs before the year comes to an end.

Here is a quick guide to what you can do now to prepare for the tax season in the spring:

  • Organize tax documents: Don’t leave your receipts in a mess until it is time to officially file in the spring. Go ahead and start organizing your receipts now. Add up your spending and determine if there are any outstanding costs that need to be taken into consideration before December 31st.
  • Make a checklist: Take a look at your taxes from last year and see what deductions you applied for, and more importantly what deductions you almost qualified for but weren’t eligible for. Make a checklist of things you need to do to be prepared to do your taxes next spring. This might include taking care of medical expenses or addressing certain business costs.
  • Don’t procrastinate: The closer it gets to the tax deadline, the more difficult it is to get your taxes in line. So many people miss out on deductions and end up paying too much in taxes year after year simply because they wait too long to get started.

 

Tax codes seem almost intentionally confusing. There are a lot of nuances and exceptions, and all sorts of minor rules and deductions that can have a huge impact on your tax bill. What is worse, getting your taxes wrong can lead to a major headache if an audit turns up. This is why it is best to consult with a professional. An accountant can give you the tools and support necessary to get through tax season without a headache. Every year, millions of Americans overpay on their taxes simply because they don’t understand tax codes. Don’t make the same mistake. Contact MBS accountancy to learn more about getting ahead on your 2015 taxes.

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