Savant Tax & Business Services

12/20/2019

The added busyness of the holiday season can leave all of us frustrated with our lack of time and organization. One of these tools might be just what you need? Hope it's helpful!

Make your days more manageable and your goals more achievable with these tools.

12/19/2019

Did you know...

When you only pay the minimum amount each month on your credit card, your balance could continue to rise, even though you stop using your card.

12/18/2019

This may burst some bubbles, but it must be said: there is no minimum amount for income that makes it reportable on your taxes. Yes, you owe on every dollar you make. While it may be tempting to let that small side-gig slip under the rug, don't do it. It's not worth the heavy conscience or the back-tax bill (plus interest) you very well may get hit with later.

12/17/2019

Some of the most common red flags for tax fraud investigations:

1) Keeping two sets of books

2) Making false entries in books and records

3) Claiming personal expenses as business expenses

4) Claiming false deductions or credits against taxes owed

5) Hiding or transferring assets

12/16/2019

Ever wonder what those "taxes and fees" are that get tacked on to your holiday flight bill? Flying domestically with no layovers will garner the least amount of those extra taxes and fees that you have to pay.

The holiday season is approaching and millions of Americans are booking their flights to see family over Thanksgiving or Christmas.

12/11/2019

If you come across a charity that you know is a scam, the IRS recommends the following:

1) Don't reply.

2) Don't open attachments. They might carry malware that will affect your computer or phone.

3) Don't click any links.

4) Forward the scam email, preferably with its full headers (to, from, subject, etc.), to the IRS at [email protected].

5) Delete the original email.

12/10/2019

Do you get a knot in your gut when your spouse asks you how the finances are looking? Do you practice a financial policy of "Don't ask, Don't tell"?

One of the best tools we've seen to keep your spouse or business partner in the loop about your finances is the simple concept of the monthly financial report. Here are some of the major benefits...

12/09/2019

Do you AGREE or DISAGREE?

The IRS is taxing me a fair amount in order to fund necessary public service programs.

12/06/2019

Q&A Friday: What questions do you have for us today?

12/04/2019

Until you've had a tax professional on your side (particularly when facing extra scrutiny from the IRS), you may not realize the relief it will bring. The IRS is not something to "take on" by yourself. Surround yourself with a quality team.

12/03/2019

On this Giving Tuesday, be aware that fake charities abound in this country. Many individuals set up nonprofits for the sake of financial gain -- and some are really good at the disguise. Charity Navigator is a simple online tool to look up the validity of various charities (or lack thereof).

Charity Navigator is the largest and most-utilized evaluator of charities in the United States providing data on 1.8 million nonprofits and ratings for close to 10,000 charities.