The US legislature is still deciding whether original BOI reporting is necessary. There are also current court cases pending, regarding filing requirements... Please see my update to the prior BOI reporting blog article published November 30, 2024. Garland

Garland Taylor CPA, Pres. Garland R Taylor CPA PC

Before you start lamenting your empty wallet, take a moment to consider this: you might be sitting on hidden cash without even realizing it. That’s right—your household or business could be a treasure trove of untapped resources just waiting to be discovered.

Have you ever gone to the store for a carton of milk and come home with a new air fryer, a potted plant, and a throw pillow you didn’t even need? If so, welcome to the club! Impulsive spending has an uncanny way of sneaking into our lives, charming us with shiny objects and limited-time sales.

Running a home business isn’t without its own unique challenges. For all the conveniences that operating a business out of your home brings, there are some pitfalls that all small business owners have in common should strive to avoid.

New BOI reporting requirements for 2024. Most businesses are required to file (please see links for 23 exempt entity types). Penalties for non-filing are severe...

Please see my earlier blog article posted 1-31-24 & info in my 10-31-24 tax planning blog

Being married brings many advantages besides having someone to help fold the laundry or comfort you when you’re having a rough day. Tax benefits are another benefit, although people don’t get married to save on taxes, thankfully.

Preparing taxes isn’t most people’s idea of a good time. Usually, tax time is considered something of a downer, especially for anyone trying to do their own taxes. If you make the sound choice to hire a CPA, the entire process can be a lot easier, though.

Failing to file your taxes for several years can feel overwhelming. Whether you missed deadlines due to life circumstances, a misunderstanding of tax obligations, inability to pay your tax liability or simply procrastination, you may be worried about the consequences of not filing.

Despite the changing economy, real estate remains one of the most reliable ways to build wealth. The downside to that is, the more wealth you build, the more taxes you usually have to pay. For many, finding legal ways to lower taxes is an ongoing hunt.

Tax planning - do it BEFORE 12-31-24

 Hello again clients & friends!

 This is 2024's main tax planning blog...