Sue Johnson Business Services

03/20/2019

On this first day of spring, here's a financial item to put on your spring cleaning list:

Logon to your online banking and download your monthly statements for the past year (or however long it's been since you last did so).

The bank won't keep these records forever, but they are something you should have. The rising trend of paperless statements means you likely don't have a bulging file cabinet at home with papers from the bank, but that doesn't mean you won't need these records. (And of course, be sure to backup those records on an additional external hard drive.)

03/19/2019

If you turned 70 1/2 in 2018, you are required to start taking payments from IRAs and workplace retirement plans by April 1.

There are some exceptions, so give us a call if you want to know about your specific situation. http://bit.ly/2TzZ9tK

03/18/2019

Start a new business last year? Will the IRS think so too? There are actually 9 factors that the IRS uses to determine if you have a business. We can help you figure this out and get things ordered properly on your tax return. Our White Paper here gives a handy summary to help get you started thinking about taxes.

The top seven post-tax-reform tax strategies profiting Lubbock business owners.

03/14/2019

We know many adults in that season of life where taking care of their aging parents has become a primary concern. Tax help is available, but the rules have changed a bit with the TCJA this year. The adult dependent exemption is gone, but a new family tax credit is available. Take a look at the requirements, and be sure to bring this up when you come in for your tax filing.

My mother and my furry little brother Willie having a conversation. While walking Willie last October, my mom fell and broke her leg, a common occurrence among older dog owners. That accident has prompted ongoing discussions (OK, fights) on possible more hands-on care options for my octogenarian mot...

03/13/2019

As softwares and auditors expand their reach, time is running out for businesses to figure out and enact sales tax requirements for their remote sales.

If your business needs help determining the new tax obligations, we're here for you.

Close to 30 states have passed laws requiring out-of-state sellers to tax their sales into the state. How do state tax authorities know whether such businesses are collecting and remitting tax as they should?

03/12/2019

Can your tax software do this? ;)

03/11/2019

If you don’t use an Education Assistance Plan to help your employees with continuing education, you're missing out on over $5,000 in tax deductions PER employee. It's one way of many to offset taxes for your business; read about more tips like these in our White Paper.

The top seven post-tax-reform tax strategies profiting Lubbock business owners.

03/08/2019

Thinking of self-filing this year? Take a look at this first...

TurboTax customer service ranks based upon user reviews and complaints - compare TurboTax customer support ratings to other companies

03/07/2019

Tax Deadline Alert for Businesses: Big tax deadline coming in about a week on March 15 for Partnerships and S Corporations. Is this you? Are you ready? Call us for any last-minute help you might need.

03/06/2019

Consider your entity status under the new tax law. With the tax on C-corporations set at a flat 21%, there are more opportunities to consider in your choice of entity. In addition to the corporate rate reduction, there is a corresponding 20% deduction on "qualified business income" for pass-through entities which fall under certain categories. Look at your options in our White Paper.

The top seven post-tax-reform tax strategies profiting Lubbock business owners.

03/05/2019

41 days until the tax deadline...

(But who's counting?) ;)