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Tax Preparers vs. Tax Planners

Tax Preparers vs. Tax Planners

Tax preparers and tax planners are both professionals who work with individuals or businesses to help them manage their tax obligations and potentially save money on their taxes. However, they serve different roles and have different responsibilities. Tax preparers...
Did Your Tax Advisor Ruin Your 2022?

Did Your Tax Advisor Ruin Your 2022?

It’s January, it’s a new year! The month of January is named after the Roman god Janus. In Roman mythology, Janus is the god of beginnings, gates, transitions, time, duality, doorways, passages, and endings. He is usually depicted as having two faces, one looking to...
What is the 179D Tax Deduction?

What is the 179D Tax Deduction?

This is great news for commercial building owners and design firms. Taxpayers who began construction before January 1, 2023 may apply the reference standard 90.1-2007 regardless of when the building is placed in service. IRS Announcement regarding 179D tax deduction...
What is a Tax Deduction vs. a Credit?

What is a Tax Deduction vs. a Credit?

A tax deduction is a reduction in an individual’s taxable income, which can lower the amount of tax that the individual owes to the government. There are many different types of tax deductions, and they can be used by individuals, businesses, and organizations...