Retirement Plan Selection and Design That Keeps Money in Your Pocket

SJ Gorowitz Retirement Tax Planning

You’re a business owner. Every decision you make has an effect on your taxes. Particularly if you own a closely held business, your long-term personal and professional outcomes are inextricable. If your goals are to keep more of what you earn and establish a foundation for ongoing financial health, retirement plan selection and design should be at the top of your to-do list. … [Read more...]

The Most Complete List of 2016 Business Tax Deductions

SJG Tax Advisor Atlanta

Whether you have a new business or you have been filing taxes for your organization for years, it’s always wise to take a moment to study the list of write-offs and tax savings available to you in the current year. You’re only getting farther into the 2016 tax season. If you haven’t already, it’s time to pay attention to your existing savings areas and any recent tax changes that could impact your returns. We’ve combed through every possible resource to provide you with the most comprehensive list of tax deductions available, from A (Accounting Fees) to Z (well, actually to T – Travel Expenses). Use it like a checklist. Note which of these tax breaks you are eligible to deduct, and be sure to contact our tax experts for additional guidance so you’re confident that you’re taking full advantage of each opportunity to save your hard earned money. … [Read more...]

Maximize Your Tax Refund: How to Avoid 5 Common Pitfalls

SJG Tax Advisor Atlanta

It’s been said that the only certainties in this world are death and taxes. And sure enough, tax season is upon us once again. Even if you’ve been around the block a time or two, it’s always good to review common taxpayer mistakes to make sure you are positioned to get the most financial benefit possible. Our team of tax specialists has compiled a list of common pitfalls and added suggestions to help you build your tax action plan – and your confidence. … [Read more...]

January 2016 Newsletter

It's officially tax season! Are you prepared? Tax season can be stressful and confusing - but it doesn't have to be if you're informed and organized. Here is some important information our tax experts think should know to face the season head on. Announcing the IRS Standard Mileage Rates for 2016 As of January 1, 2016, the 2016 mileage rates for standard use of a vehicle (including vans, pickups, and panel trucks) are as follows: Business Miles Calculate the standard mileage rate based on an annual study of the fixed and variable costs of operating a vehicle. For 2016, the rate is 54 cents per mile for business miles driven, (down from 57.5 cents in 2015). Medical and Moving Miles Calculate the standard mileage rate based on variable costs. For 2016, the rate is 19 cents per mile driven for medical or moving purposes (down from 23 cents in 2015). Charitable Service Miles Calculate the rate based on statute. For 2016, the rate will remain steady at 14 cents … [Read more...]