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...]

Everything You Need to Know About 1099 to Avoid Tax Penalties

SJ Gorowitz 1099 tax advisor

1099 forms can be perplexing, but small business owners neglect them at great risk and cost. If you made a payment during 2015, you may be required to file. And as of 2015, not doing so, doing so late, or doing so incorrectly will cost you the most significant penalties ever experienced.  … [Read more...]

What IRS Budget Cuts Mean for Small Business Taxpayers

SJ Gorowitz IRS Advisory

Policymakers have continued to cut the budget of the IRS despite repeated warnings from sources like the IRS Commissioner, National Taxpayer Advocate, Treasury Inspector General for Tax Administration. At this point, the ability of the IRS to carry out its mission has been severely diluted, and US taxpayers are feeling the results.   … [Read more...]