Author: Brian Kelsch

We hear of a new threat, scam or hack every day. As overwhelming as this subject is, there are things that you can do that will reduce the risk of your personal and financial information from being compromised.

If you regularly use your home to conduct business, you may be eligible for the home office deduction. Contrary to what some people may think, the home office deduction does not set off red flags with the IRS or make an individual more prone to being audited. This deduction allows…

The Fourth of July has come and gone and for many business owners the mid-summer season is an excellent time to start to look ahead and begin making decisions in preparation of the end of the tax year. Part of this process should include a review of how any recent…

The IRS allows a deduction for charitable contributions made during the tax year to qualified charitable organizations. However, understanding how and when a charitable contribution is deductible can be confusing. Commonly asked questions include such topics as what is deductible as a contribution, how are the deductions claimed, and what…

Deciding which retirement plan is best for you and your business can be challenging. There are many different factors to weigh depending on your overall financial position. It is important to consider, how to start the plan, who the plan will cover, how much if any you plan to contribute,…

Small Business gets  a Break on Start Up Expenses When and how do I deduct expense incurred before I opened my business? Most new business and rental property owners will pay or incur expenses for investigating the viability of a business and expenses before actually opening the business or renting…

As of December 9, 2014 there are more than 50 temporary tax provisions that have not been extended for 2014. This normally would not be an issue as tax laws change frequently. The problem is that many taxpayers are expecting them to be extended for 2014, but without Congressional action…

As usual there are plenty of unknowns and changes as we close the 2014 tax year and prepare to file tax returns in 2015. First, the good news. Tax rates are unchanged for the first time in a while — the bottom rate remains at 10 percent and the top…

The child and dependent care credit is designed to assist working parents and guardians with some of the expenses involved in raising a child or caring for a disabled dependent. The credit, which varies depending on the taxpayer’s earned income, is based on the expenses paid to provide child or…