averettcpa.com RSS Feed http://averettcpa.com/ Take a look at our recent blog posts and client newsletter articles. en-us Fri, 01 Oct 2021 09:00:00 -0500 Fri, 01 Oct 2021 09:00:00 -0500 Use These Strategies To Pass on Wealth to Heirs http://www.averettcpa.com/newsletter.php#4 Low interest rates and a volatile stock market create additional opportunities for wealthy individuals to transfer money to heirs tax-free. Fri, 01 Oct 2021 09:00:00 -0500 http://www.averettcpa.com/newsletter.php#4 Small Business: Tips for Ensuring Financial Success http://www.averettcpa.com/newsletter.php#2 Learn how cost accounting helps you make smarter business decisions and lead you to financial success. Fri, 01 Oct 2021 09:00:00 -0500 http://www.averettcpa.com/newsletter.php#2 Marginal vs. Effective Tax Rates http://www.averettcpa.com/newsletter.php#1 Understanding marginal and effective tax rates is important for tax planning purposes, but many taxpayers don't fully understand the difference. Fri, 01 Oct 2021 09:00:00 -0500 http://www.averettcpa.com/newsletter.php#1 If You Receive an IRS Letter or Notice http://www.averettcpa.com/newsletter.php#5 The IRS sends millions of letters and notices to taxpayers for a variety of reasons. Many of these letters and notices can be dealt with without calling or visiting an IRS office. Fri, 01 Oct 2021 09:00:00 -0500 http://www.averettcpa.com/newsletter.php#5 Defer Capital Gains Using Like-Kind Exchanges http://www.averettcpa.com/newsletter.php#3 If real estate's your game, did you know that it's possible to defer capital gains by taking advantage of a Section 1031 exchange that allows you to swap investment property on a tax-deferred basis? Fri, 01 Oct 2021 09:00:00 -0500 http://www.averettcpa.com/newsletter.php#3 Ready to Buy Your First Investment Property? http://averettcpa.com/blog.php?id=84 Are you ready to buy your first investment property? Here are some tips that can help. Read more... Mon, 13 Sep 2021 09:00:00 -0500 http://averettcpa.com/blog.php?id=84 What Is a Designated Roth Account? http://www.averettcpa.com/newsletter.php#2 If you are a high-income earner who participates in a 401(k), 403(b), or governmental 457(b) retirement plan that has a designated Roth account, making contributions to that account could be a smart move. Wed, 01 Sep 2021 09:00:00 -0500 http://www.averettcpa.com/newsletter.php#2 Verifying Your Identity When Calling the IRS http://www.averettcpa.com/newsletter.php#4 If you need to contact the IRS, you will be asked to verify your identity. Here's what you need to know before you call. Wed, 01 Sep 2021 09:00:00 -0500 http://www.averettcpa.com/newsletter.php#4 Tax Rules for Divorce and Alimony Payments http://www.averettcpa.com/newsletter.php#5 Tax rules regarding divorce and separation can and do change - as they recently did under tax reform - and the last thing on anyone's mind during a divorce or separation is its effect on their tax situation. Wed, 01 Sep 2021 09:00:00 -0500 http://www.averettcpa.com/newsletter.php#5 Tax Relief for Those Affected by Natural Disasters http://www.averettcpa.com/newsletter.php#1 Tax relief may be available if you've been affected by a natural disaster this year, but only if you meet certain conditions. Wed, 01 Sep 2021 09:00:00 -0500 http://www.averettcpa.com/newsletter.php#1 Six Things To Know Before You Start a Business http://www.averettcpa.com/newsletter.php#3 Starting your own business is an exciting prospect, but there is more to it than simply writing a business plan. Wed, 01 Sep 2021 09:00:00 -0500 http://www.averettcpa.com/newsletter.php#3 Retirement and taxes: Understanding IRAs http://averettcpa.com/blog.php?id=83 Individual Retirement Arrangements, or IRAs, provide tax incentives for people to make investments that can provide financial security for their retirement. These accounts can be set up with a bank or other financial institution, a life insurance company, mutual fund or stockbroker. Read more... Wed, 18 Aug 2021 09:00:00 -0500 http://averettcpa.com/blog.php?id=83 Employers should choose their payroll service provider carefully to protect against fraud http://averettcpa.com/blog.php?id=82 When hiring a company to handle payroll and payroll tax, employers should carefully choose their payroll service provider. This can help a business avoid missed deposits for employment taxes and other unpaid bills. Read more... Mon, 19 Jul 2021 09:00:00 -0500 http://averettcpa.com/blog.php?id=82 Individual Coverage HRAs promote healthcare choice and competition and make it easier to offer valued benefit http://averettcpa.com/blog.php?id=81 Beginning January 1, 2020 employers can offer an Individual Coverage Health Reimbursement Arrangement (ICHRA) to employees to reimburse individual insurance and out-of-pocket medical expenses. This makes it easier for employers to offer an employee-valued benefit without facing the complexity posed by its predecessor, the Qualified Small Employer HRA (QSEHRA). The Departments of the Treasury, Labor, and Health and Human Services introduced ICHRAs in October 2018; the finalized ruling came out in June 2019. Read more. Fri, 20 Dec 2019 09:00:00 -0600 http://averettcpa.com/blog.php?id=81 Save For Your Children's Education Now (Even If They Haven't Been Born) http://averettcpa.com/blog.php?id=80 College is expensive, as you've no doubt learned for yourself. However, regardless of what your degree cost, your children's education is likely going to cost much more. Even if you're still trying to figure out how to pay for daycare, you can save yourself an enormous amount of stress down the road if you start saving for your children's college education now. Read more... Fri, 23 Aug 2019 09:00:00 -0500 http://averettcpa.com/blog.php?id=80 The 7 Essential Steps You Need to Set Up a Small Business http://averettcpa.com/blog.php?id=79 Are you a parent who is living with a disability and looking for a career change? Thinking of becoming your own boss and starting a small business? Running your own business is a wonderful way to have more control over your career. But getting started can take some work. Here are some steps you should consider as you contemplate starting a small business... Tue, 28 Aug 2018 09:00:00 -0500 http://averettcpa.com/blog.php?id=79 Top 7 Financial Tips for Property Investors http://averettcpa.com/blog.php?id=78 More and more Americans are creating wealth through the property market. Read more... Mon, 06 Aug 2018 09:00:00 -0500 http://averettcpa.com/blog.php?id=78 Starting Your First Home-Based Business http://averettcpa.com/blog.php?id=77 So you want to start a home-based business but you donÃ?¢??t know where to begin? The first thing you need to do is to make sure to choose a business that is the right fit for you. From there, youÃ?¢??ll need time, marketing, and hard word to get it up and running. Read more... Fri, 20 Jul 2018 09:00:00 -0500 http://averettcpa.com/blog.php?id=77 Midyear Review http://averettcpa.com/blog.php?id=76 Every year is a journey for a business. You begin with a set of objectives for the months ahead, probably encounter a few bumps along the way and, hopefully, reach your destination with some success and a few lessons learned. Read more... Thu, 14 Jun 2018 09:00:00 -0500 http://averettcpa.com/blog.php?id=76 Updated Withholding Calculator, Form W-4 Released; Calculator Helps Taxpayers Review Withholding Following New Tax Law http://averettcpa.com/blog.php?id=75 The Internal Revenue Service today released an updated Withholding Calculator on IRS.gov and a new version of Form W-4 to help taxpayers check their 2018 tax withholding following passage of the Tax Cuts and Jobs Act in December. Read more. Wed, 28 Feb 2018 09:00:00 -0600 http://averettcpa.com/blog.php?id=75 Tax credit for hiring from certain â??target groupsâ? can provide substantial tax savings http://averettcpa.com/blog.php?id=74 Can the Work Opportunity tax credit reduce your 2017 tax bill or offset your 2018 hiring costs? Find out. Tue, 20 Feb 2018 09:00:00 -0600 http://averettcpa.com/blog.php?id=74 Your tax-time financial review http://averettcpa.com/blog.php?id=73 It's the new year â?¦ and that means it's time to review your financial affairs. Take advantage of all of that top-of-mind tax-time knowledge and increase your changes of a fiscally sound 2018. Mon, 15 Jan 2018 09:00:00 -0600 http://averettcpa.com/blog.php?id=73 Tax reform: what is proposed? http://averettcpa.com/blog.php?id=72 There is now a ton of media chatter about the recently introduced federal tax reform package being passed around in Washington, D.C. While it's still early in the process, here are some of the key elements of the current proposal. Read more. Mon, 06 Nov 2017 09:00:00 -0600 http://averettcpa.com/blog.php?id=72 Is your HSA a retirement tool? The good, the bad, and the ugly http://averettcpa.com/blog.php?id=71 Health Savings Accounts can be a source of retirement funds when properly positioned with other retirement fund options, but it's important to know their advantages and disadvantages. Read more. Thu, 03 Aug 2017 09:00:00 -0500 http://averettcpa.com/blog.php?id=71 Check your credit score http://averettcpa.com/blog.php?id=70 Knowing your credit score can help you avoid a surprise when you attempt to apply for a loan or credit card. Read more. Thu, 29 Jun 2017 09:00:00 -0500 http://averettcpa.com/blog.php?id=70 Single people need financial planning too http://averettcpa.com/blog.php?id=69 Single people have financial considerations that differ from those who are married. But this doesn't mean they should overlook financial planning. Read more. Fri, 16 Jun 2017 09:00:00 -0500 http://averettcpa.com/blog.php?id=69 Embrace Spring Financial Cleaning: Reduce Your Stress And Improve Your Financial Future http://averettcpa.com/blog.php?id=68 Whether you?re a small business owner, a college student, or a working parent, it?s never a bad idea to do some financial spring cleaning, and with April being Financial Literacy Month, now is a great time to take stock and make sure you are on the right track. Read more. Thu, 27 Apr 2017 09:00:00 -0500 http://averettcpa.com/blog.php?id=68 Capital Gains and Losses - 10 Helpful Facts to Know http://averettcpa.com/blog.php?id=67 When a person sells a capital asset, the sale normally results in a capital gain or loss. A capital asset includes inherited property or property someone owns for personal use or as an investment. Here are 10 facts that taxpayers should know about capital gains and losses...read more. Mon, 03 Apr 2017 09:00:00 -0500 http://averettcpa.com/blog.php?id=67 Avoid the Rush: Online Options Help You Avoid Presidents Day Rush http://averettcpa.com/blog.php?id=66 The Presidents Day holiday period marks the peak demand for our toll-free telephone and office services. We receive thousands of telephone calls per hour. But, the vast majority of people calling us or seeking appointments at our Taxpayer Assistance Centers can find their answers faster on IRS.gov. Read more. Wed, 15 Feb 2017 09:00:00 -0600 http://averettcpa.com/blog.php?id=66 Tax Time Phishing Scams http://averettcpa.com/blog.php?id=65 When you think of the months January through April, you usually think about the Super Bowl, Valentine?s Day, and tax time. But it also means an increase in phishing scams. Here?s a quick rundown of the latest scam warnings from the IRS, the Better Business Bureau, and the Consumer Federation of America. Read more... Mon, 06 Feb 2017 09:00:00 -0600 http://averettcpa.com/blog.php?id=65 Clean your financial house for the new year http://averettcpa.com/blog.php?id=64 Out with the old, in with the new. No matter whether you apply the expression to changes in attitude or to life adjustments, the end of the year is a great time to assess your household finances and prepare for new opportunities. Here are suggestions. Read more. Thu, 22 Dec 2016 09:00:00 -0600 http://averettcpa.com/blog.php?id=64 What To Do Before The Tax Year Ends Dec 31 http://averettcpa.com/blog.php?id=63 As tax filing season approaches, the Internal Revenue Service is reminding taxpayers there are things they should do now to get ready for filing season. Read more. Thu, 15 Dec 2016 09:00:00 -0600 http://averettcpa.com/blog.php?id=63 How social security benefits are taxed http://averettcpa.com/blog.php?id=62 Are you wondering if your social security retirement, survivor, and disability benefits will be subject to federal income tax on your 2016 return? Generally, when these benefits are taxed is determined by your "provisional income." Read more. Fri, 02 Dec 2016 09:00:00 -0600 http://averettcpa.com/blog.php?id=62 How to Avoid a Refund Delay; Plan Ahead http://averettcpa.com/blog.php?id=61 As tax filing season approaches, the Internal Revenue Service is reminding taxpayers about steps they can take now to ensure smooth processing of their 2016 tax return and avoid a delay in getting their tax refund next year. Read more. Wed, 16 Nov 2016 09:00:00 -0600 http://averettcpa.com/blog.php?id=61 Who\'s on your team? http://averettcpa.com/blog.php?id=60 Tough financial decisions can affect both current and future tax bills, and lining up a team of professional advisors who are ready and willing to help makes a difference. For the most benefit, make sure your advisors know each other and work well together. Read more. Fri, 28 Oct 2016 09:00:00 -0500 http://averettcpa.com/blog.php?id=60 Five Tips for Starting a Business http://averettcpa.com/blog.php?id=59 Understanding your tax obligation is one key to business success. When you start a business, you need to know about income taxes, payroll taxes and much more. Here are five IRS tax tips that can help you get your business off to a good start. Thu, 25 Aug 2016 09:00:00 -0500 http://averettcpa.com/blog.php?id=59 Five Tax Tips about Hobbies that Earn Income http://averettcpa.com/blog.php?id=58 Millions of people enjoy hobbies. Hobbies can also be a source of income. Some of these types of hobbies include stamp or coin collecting, craft making and horse breeding. You must report any income you get from a hobby on your tax return. How you report the income from hobbies is different from how you report income from a business. Read more. Fri, 05 Aug 2016 09:00:00 -0500 http://averettcpa.com/blog.php?id=58 Four Reasons You Should Not Wait Until Extension Deadline to File Your Return http://averettcpa.com/blog.php?id=57 If you filed for an extension of time to file your 2015 federal tax return and you also chose to have advance payments of the premium tax credit made to your coverage provider. If you fall into this category, it?s important you file your return sooner rather than later. Here are four things for these taxpayers to know: Thu, 28 Jul 2016 09:00:00 -0500 http://averettcpa.com/blog.php?id=57 Accountable plans are a win-win business idea http://averettcpa.com/blog.php?id=56 Are you looking for a way to give your employees a tax-free benefit that is also tax-deductible for your business? Read more. Mon, 18 Jul 2016 09:00:00 -0500 http://averettcpa.com/blog.php?id=56 Improve productivity with happy employees http://averettcpa.com/blog.php?id=55 Happy employees can have a positive impact on your operations, customer support, and profit level. Here are suggestions for keeping your workforce upbeat. Read more. Tue, 14 Jun 2016 09:00:00 -0500 http://averettcpa.com/blog.php?id=55 Things You Should Know about Filing Late and Paying Penalties http://averettcpa.com/blog.php?id=54 April 18 was this year?s deadline for most people to file their federal tax return and pay any tax they owe. If you are due a refund there is no penalty if you file a late tax return. If you owe tax, and you failed to file and pay on time, you will most likely owe interest and penalties on the tax you pay late. To keep interest and penalties to a minimum, you should file your tax return and pay the tax as soon as possible. Here are some facts that you should know... Mon, 09 May 2016 09:00:00 -0500 http://averettcpa.com/blog.php?id=54 Here's What You Need to Do with Your Form 1095-C http://averettcpa.com/blog.php?id=53 This year, you may receive one or more forms that provide information about your 2015 health coverage. These forms are 1095-A, 1095-B and 1095-C. This tip is part of a series that answers your questions about these forms. Wed, 16 Mar 2016 09:00:00 -0500 http://averettcpa.com/blog.php?id=53 Here's What You Need to Do with Your Form 1095-B http://averettcpa.com/blog.php?id=52 This year, you may receive one or more forms that provide information about your 2015 health coverage you had in 2015. These forms are 1095-A, 1095-B and 1095-C. This tip is part of a series that answers your questions about these forms. Tue, 08 Mar 2016 09:00:00 -0600 http://averettcpa.com/blog.php?id=52 Here's What You Need to Do with Your Form 1095-A http://averettcpa.com/blog.php?id=51 This year, you may receive one or more forms that provide information about your 2015 health coverage. These forms are 1095-A, 1095-B and 1095-C. Read more... Fri, 26 Feb 2016 09:00:00 -0600 http://averettcpa.com/blog.php?id=51 Eight Facts about New ACA Information Statements http://averettcpa.com/blog.php?id=50 Many individuals will receive new ACA information statements for the first time in 2016. Here are eight facts about these forms: Tue, 05 Jan 2016 09:00:00 -0600 http://averettcpa.com/blog.php?id=50 2015 Tax Extender Bill FINALLY Passed by Congress http://averettcpa.com/blog.php?id=49 For those of us waiting with bated breath to see what the extenders bill would do for our year-end tax planning, here is a list of over 50 tax provisions extended either permanently, two more years, or five more years. Mon, 21 Dec 2015 09:00:00 -0600 http://averettcpa.com/blog.php?id=49 Tips from IRS for Year-End Gifts to Charity http://averettcpa.com/blog.php?id=48 The Internal Revenue Service today reminded individuals and businesses making year-end gifts to charity that several important tax law provisions have taken effect in recent years. Mon, 30 Nov 2015 09:00:00 -0600 http://averettcpa.com/blog.php?id=48 Need money to pay bills? Raiding your 401(k) is not a good idea http://averettcpa.com/blog.php?id=47 When you're short of cash, raiding your 401(k) plan may seem like a good idea. Here are two reasons why it isn't. Read more. Tue, 10 Nov 2015 09:00:00 -0600 http://averettcpa.com/blog.php?id=47 New IRS Resource helps Employers Understand the Health Care Law http://averettcpa.com/blog.php?id=46 The new ACA Information Center for Applicable Large Employers page on IRS.gov features information and resources for employers of all sizes on how the health care law may affect them if they fit the definition of an applicable large employer. Fri, 18 Sep 2015 09:00:00 -0500 http://averettcpa.com/blog.php?id=46 IRS Tax Tips for Starting a Business http://averettcpa.com/blog.php?id=45 When you start a business, a key to your success is to know your tax obligations. You may not only need to know about income tax rules, but also about payroll tax rules. Here are five IRS tax tips that can help you get your business off to a good start. Thu, 06 Aug 2015 09:00:00 -0500 http://averettcpa.com/blog.php?id=45 Bartering and trading? Each transaction is taxable to both parties http://averettcpa.com/blog.php?id=44 Sometimes, when the right opportunity presents itself, people are able to pay for goods and services they need or want by trading goods, or providing a service that they can perform in return. Wed, 08 Jul 2015 09:00:00 -0500 http://averettcpa.com/blog.php?id=44 Six Tips to Help You Pay Your Tax Bill this Summer http://averettcpa.com/blog.php?id=43 If you get a tax bill from the IRS, don?t ignore it. The longer you wait the more interest and penalties you will have to pay. Here are six tips to help you pay your tax debt and avoid extra charges... Tue, 30 Jun 2015 09:00:00 -0500 http://averettcpa.com/blog.php?id=43 Tax Tips for Students with Summer Jobs http://averettcpa.com/blog.php?id=42 Students often get a job in the summer. If it?s your first job it gives you a chance to learn about work and paying tax. The tax you pay supports your home town, your state and our nation. Here are some tips students should know about summer jobs and taxes: Thu, 18 Jun 2015 09:00:00 -0500 http://averettcpa.com/blog.php?id=42 Every estate plan should have these basic documents http://averettcpa.com/blog.php?id=41 Estate planning is not just a task for the wealthy. Even though federal tax implications kick in only if your estate exceeds $5,430,000, there are other issues that make estate planning important for most individuals. Read more. Thu, 07 May 2015 09:00:00 -0500 http://averettcpa.com/blog.php?id=41 IRS, National Tax Groups Offer Help Selecting a Tax Preparer; Tips, New Web Page Unveiled http://averettcpa.com/blog.php?id=40 With the filing season approaching, the Internal Revenue Service joined with national tax organizations to provide people with new options to get information and tips on selecting tax professionals and avoiding unscrupulous preparers. Read more... Fri, 19 Dec 2014 09:00:00 -0600 http://averettcpa.com/blog.php?id=40 Tips from IRS for Year-End Gifts to Charity http://averettcpa.com/blog.php?id=39 WASHINGTON ― The Internal Revenue Service today reminded individuals and businesses making year-end gifts to charity that several important tax law provisions have taken effect in recent years. Read on for some of the changes taxpayers should keep in mind. Tue, 02 Dec 2014 09:00:00 -0600 http://averettcpa.com/blog.php?id=39 Self-employeds get tax breaks http://averettcpa.com/blog.php?id=38 When it comes to taxes, being self-employed has some advantages. Whether you work for yourself on a full-time basis or just do a little moonlighting on the side, the government has provided you with a variety of attractive tax breaks. Read more. Mon, 10 Nov 2014 09:00:00 -0600 http://averettcpa.com/blog.php?id=38 How to go into business with your spouse and succeed http://averettcpa.com/blog.php?id=37 Starting and running a business is rarely a safe or simple process, and doing so with one's spouse creates an additional layer of complexity. Whether that complexity will have a positive or negative effect depends on several factors. Read more. Wed, 13 Aug 2014 09:00:00 -0500 http://averettcpa.com/blog.php?id=37 Should you ask the cost of a gift? http://averettcpa.com/blog.php?id=36 Imagine this scenario. Your wealthy Uncle John is something of an art collector, buying paintings and sculptures from promising young artists. When he retires, he moves into a small condo in a retirement community and has to downsize his art collection. Read more. Wed, 16 Jul 2014 09:00:00 -0500 http://averettcpa.com/blog.php?id=36 Should you incorporate your business? http://averettcpa.com/blog.php?id=35 One of the first decisions you face as a new business owner is whether or not to incorporate the business. Read more. Wed, 30 Apr 2014 09:00:00 -0500 http://averettcpa.com/blog.php?id=35 2014 UPDATE: Affordable Care Act (ACA) http://averettcpa.com/blog.php?id=34 The Affordable Care Act, the health care reform legislation passed in 2010, originally mandated health insurance coverage for everyone starting January 1, 2014. But the law?s complexity soon made it evident that the requirements would have to be revised. Read more... Tue, 07 Jan 2014 09:00:00 -0600 http://averettcpa.com/blog.php?id=34 Tax strategies for charitable giving http://averettcpa.com/blog.php?id=33 Now that the holiday season has arrived, you might decide to step up your charitable donations to boost your deductions for 2013. Here are six timely strategies. Read more. Thu, 26 Dec 2013 09:00:00 -0600 http://averettcpa.com/blog.php?id=33 Don't Let Taxes Cloud Your Economic Decisions http://averettcpa.com/blog.php?id=32 Some tax-cutting strategies make good financial sense. Other tax strategies are simply bad ideas, often because tax considerations are allowed to override basic economics. Read more. Wed, 20 Nov 2013 09:00:00 -0600 http://averettcpa.com/blog.php?id=32 A cash reserve adds to your financial security http://averettcpa.com/blog.php?id=31 Many of us are living close to our financial limit these days. We pay our bills on time, but there's not a lot left over. But that's a dangerous situation. Without a cash reserve, you could find yourself in serious trouble. Read more. Fri, 08 Nov 2013 09:00:00 -0600 http://averettcpa.com/blog.php?id=31 IRS Warns of Pervasive Telephone Scam http://averettcpa.com/blog.php?id=30 The Internal Revenue Service today warned consumers about a sophisticated phone scam targeting taxpayers, including recent immigrants, throughout the country. Read more... Thu, 31 Oct 2013 09:00:00 -0500 http://averettcpa.com/blog.php?id=30 IRS Tax Tip: Reduce Your Taxes with Miscellaneous Deductions http://averettcpa.com/blog.php?id=29 If you itemize deductions on your tax return, you may be able to deduct certain miscellaneous expenses. You may benefit from this because a tax deduction normally reduces your federal income tax. Read More... Tue, 06 Aug 2013 09:00:00 -0500 http://averettcpa.com/blog.php?id=29 Customer Service Tip: How to keep your customers coming back http://averettcpa.com/blog.php?id=28 Every successful business relies on a core group of customers who keep coming back on a regular basis. Sure, you're always trying to find new customers and expand your market. But chances are that it's the "regulars" who provide the bulk of your revenues. It's important not to forget this group. Read more. Thu, 25 Jul 2013 09:00:00 -0500 http://averettcpa.com/blog.php?id=28 Make the most of your professional advisors http://averettcpa.com/blog.php?id=27 Who's on your team? No, not your sports or reality-show dancing team, your business team, that group of professional advisors who are ready and willing to help you tackle tough financial decisions. Read more. Mon, 03 Jun 2013 09:00:00 -0500 http://averettcpa.com/blog.php?id=27 Are you giving the IRS an interest-free loan? http://averettcpa.com/blog.php?id=26 Will you be among the thousands of taxpayers who get a big tax refund this year? While most Americans happily accept their tax refund checks, smart taxpayers understand that refunds actually cost them money. Read more. Fri, 01 Mar 2013 09:00:00 -0600 http://averettcpa.com/blog.php?id=26 Pay attention to restored deductions for 2012 http://averettcpa.com/blog.php?id=25 A number of tax breaks that had expired at the end of 2011 or were to expire at the end of 2012 were extended by the recently passed law, the "American Taxpayer Relief Act of 2012." Keep these deductions and credits in mind as you gather the paperwork for filing your 2012 tax return. Those that apply to you or your business could cut your 2012 tax bill. Read more. Fri, 01 Feb 2013 09:00:00 -0600 http://averettcpa.com/blog.php?id=25 When can you deduct a business bad debt? http://averettcpa.com/blog.php?id=24 It happens to butchers, bakers, and candlestick makers. It probably happens in your business, too: A customer doesn?t pay what they owe and you end up with a bad debt. Can you take a tax deduction? Read More. Fri, 18 Jan 2013 09:00:00 -0600 http://averettcpa.com/blog.php?id=24 Starting a business? Here\'s your to-do list http://averettcpa.com/blog.php?id=23 There is an almost endless list of things to do when you start a new business. Here is a brief list of some of the most important ones: Read more. Wed, 02 Jan 2013 09:00:00 -0600 http://averettcpa.com/blog.php?id=23 Tips for cutting costs in your business http://averettcpa.com/blog.php?id=22 Keeping costs under control is crucial in today?s challenging business environment. Without a doubt, one of the quickest ways for a business to cut costs is through staff reduction. But cutting jobs is not always the best cost-cutting strategy. Read more. Mon, 22 Oct 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=22 Six Tips for Charitable Taxpayers http://averettcpa.com/blog.php?id=21 Read on for six things the IRS wants taxpayers to know about deductibility of donations. Wed, 26 Sep 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=21 How to succeed in a new business http://averettcpa.com/blog.php?id=20 If the current job market has you thinking about starting a business of your own, take some steps to increase the odds that your business will succeed. Thu, 06 Sep 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=20 Ten Tax Tips for Individuals Selling Their Home http://averettcpa.com/blog.php?id=19 Here are 10 tips from the IRS to keep in mind when selling your home. Fri, 31 Aug 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=19 The Taxpayer Advocate Service: Helping You Resolve Tax Problems http://averettcpa.com/blog.php?id=18 Here are 10 things every taxpayer should know about Taxpayer Advocate Service (TAS): Tue, 28 Aug 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=18 What\'s your company\'s breakeven point? http://averettcpa.com/blog.php?id=17 The figures on an income statement report the sales, expenses, and net profit or loss of a business. But these figures can be helpful in another way. They can be used to compute the breakeven point for the business. Knowing your breakeven point can help you run your operations more efficiently and profitably. Read more. Wed, 22 Aug 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=17 Eight Tips to Determine if Your Gift is Taxable http://averettcpa.com/blog.php?id=16 Many gifts are not subject to the gift tax, but the IRS offers the following eight tips about gifts and the gift tax. Thu, 16 Aug 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=16 IRS Offers Tips on How to Fix Errors Made on Your Tax Return http://averettcpa.com/blog.php?id=15 Here are 10 tips from the Internal Revenue Service about amending your federal tax return: Wed, 08 Aug 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=15 Managing Your Tax Records After You Have Filed http://averettcpa.com/blog.php?id=14 Five tips from the IRS about keeping good tax records. Thu, 02 Aug 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=14 Supreme Court Rules on Health Care Law http://averettcpa.com/blog.php?id=13 On June 28, the Supreme Court ruled that the "Patient Protection and Affordable Care Act of 2010" was constitutional, including the provision in the law requiring individuals to have health insurance coverage starting in 2014. Read more. Wed, 18 Jul 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=13 How to get slow-paying customers to pay up http://averettcpa.com/blog.php?id=12 You?ve done your part. The job is complete, your customer is satisfied -- but a month has gone by, and your invoice is still outstanding. You?d like to work with the customer in the future. So how do you get your money without losing the customer? Read more. Tue, 03 Jul 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=12 IRS Tax Tip 2012-39: Mortgage Debt Forgiveness: 10 Key Points http://averettcpa.com/blog.php?id=11 Canceled debt is normally taxable to you, but there are exceptions. One of those exceptions is available to homeowners whose mortgage debt is partly or entirely forgiven during tax years 2007 through 2012. Mon, 11 Jun 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=11 Tips for starting a home business http://averettcpa.com/blog.php?id=10 In these tough economic times, many people are taking a hard look at employment alternatives -- some, because they've lost their seemingly stable jobs in the corporate world; others, because they dream of striking out on their own. Read more. Mon, 04 Jun 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=10 Ten Things to Know About Capital Gains and Losses http://averettcpa.com/blog.php?id=9 Did you know that almost everything you own and use for personal or investment purposes is a capital asset? Capital assets include a home, household furnishings and stocks and bonds held in a personal account. When you sell a capital asset, the difference between the amount you paid for the asset and its sales price is a capital gain or capital loss. Wed, 23 May 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=9 New businesses have tax filing requirements http://averettcpa.com/blog.php?id=8 The IRS wants to educate new small business owners about their federal tax responsibilities. "Understanding and meeting their tax filing requirements is one of the biggest challenges faced by people starting out in business," says the head of the IRS Small Business Division. Read more. Thu, 17 May 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=8 Tax questions after you file your tax return http://averettcpa.com/blog.php?id=7 Once you have filed your 2011 tax return, you may still have a few tax questions. The IRS provides these answers to commonly asked questions. Read more. Fri, 04 May 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=7 April 17 -- a big day for taxes http://averettcpa.com/blog.php?id=6 Tuesday, April 17, is the deadline for filing certain returns and taking certain tax-related actions. Mon, 09 Apr 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=6 Tips for managing part-time employees http://averettcpa.com/blog.php?id=5 Part-time employees can play a valuable role in a small business, especially while a business is waiting for general economic recovery. Part-timers can help you deal with variations in workload without having to hire a full-time employee. And often, when there are many job applicants for any opening, you can find a person with above-average skills for the position. Read more. Mon, 26 Mar 2012 09:00:00 -0500 http://averettcpa.com/blog.php?id=5 There\'s still time to cut your 2011 tax bill! http://averettcpa.com/blog.php?id=4 Are you still dealing with your 2011 tax return? Do you owe a bigger tax bill than you expected? Are you missing a tax break because your adjusted gross income is too high? Would you like a bigger refund? Don't despair. You might still have time to make some changes. Read more. Thu, 01 Mar 2012 09:00:00 -0600 http://averettcpa.com/blog.php?id=4 Use adjusted tax numbers for 2012 planning http://averettcpa.com/blog.php?id=3 The IRS is required by law to adjust certain tax numbers each year. Here are some of the adjusted numbers you'll need for your 2012 tax planning. Thu, 23 Feb 2012 09:00:00 -0600 http://averettcpa.com/blog.php?id=3 Be diligent about saving your tax records http://averettcpa.com/blog.php?id=2 You're probably getting ready to sort out last year's financial records and prepare for this year's recordkeeping. But what should you keep and what can you throw away? Here are some suggestions. Read more. Mon, 13 Feb 2012 09:00:00 -0600 http://averettcpa.com/blog.php?id=2 Some deductions are available even if you don?t itemize http://averettcpa.com/blog.php?id=1 If you?ve given up itemizing deductions, you?re not alone. These days over half of all taxpayers find they?re better off using the standard deduction. But even if you take the standard deduction, you can also deduct some individual expenses on your 2011 tax return, including the following: Read more. Fri, 10 Feb 2012 09:00:00 -0600 http://averettcpa.com/blog.php?id=1