Tax Tips

Keep a notebook in your car to record date, mileage, tolls, parking costs and purpose of trip.
Stay in nice hotels but eat more economically. When traveling for business, remember that the entire cost of the hotel is tax-deductible, but meals can only be deducted at a rate of 50 percent.
If you have a home office to claim for tax purposes, make sure it is only used for business and it is your principal place of business.
Get help ascertaining the best retirement plan option, whether it is a traditional IRA or self-employed 401 (k) or a defined benefit plan.
Stay current on all payroll and sales tax filings.
Make sure you are following the new Affordable Care Act rules.
Understand the difference between an employee and a subcontractor.
Document, document, document.

Document, document, document.
Use your smartphone to photograph tax related losses and documents.
Make sure you get your fair share of your mortgage interest deduction. Use Form 1098 if you paid more than $600 in mortgage interest.
Remember that property damage from weather, fire or theft could be tax-deductible.
If you sold your home, remember that commission paid to your agent is deductible, as are legal fees and closing costs.
E-file your return early to reduce turnaround time.
Remember to take credits for wind, solar and geothermal equipment in the home.
Make sure your filing status boosts your refund. While most married couples file jointly, a joint return may not always be the way to boost your refund. Run the numbers both ways.
Remember credits work better than deductions as a refund booster. For each credit dollar, your taxes go down a dollar.
Stay informed of tax law changes. We will do the same.