Not your average tax and accounting firm.
Using QuickBooks Online can sometimes be intimidating, especially if you are new to the accounting platform. However, there are some best practices when it comes to making the most effective use of your time. These guidelines are not enforceable rules, though some managers may build them into their official policies. They just describe the way …
Using QuickBooks Online Effectively: 7 Best PracticesRead More
Have you recently received an IRS reminder letter about your eligibility to claim credits or a refund? If you are an active client of Nissen and Associates – don’t panic! Rest assured, those credits have been claimed. We have diligently asked all the right questions to ensure you have claimed all the credits you are …
Video Tips: Have You Received The IRS Reminder Letter? Ignore it.Read More
The IRS is gearing up to go after abusive ERTC claims. Have you seen those ads on television promoting a large tax credit? The large tax credit they are referring to is the employee retention tax credit (ERTC). The ERTC is a government-sponsored program to keep workers employed during 2020 and 2021 because of the …
The recent Social Security cost of living increase is going to help millions of beneficiaries. This year, Social Security beneficiaries will get an 8.7% increase to their benefits in 2023. This is the highest increase in 40 years, thanks to the current high inflation. Also it is the second year in a row that there’s …
2023 Social Security Cost Of Living Increase Highest In 40 YearsRead More
The Increased Child Tax Credit is available through the end of 2022. This article explains the increased allowances and who qualifies to receive it. The American Rescue Plan Act of 2021 was a $1.9 trillion bill passed by Congress to stimulate the U.S. economy as the country emerges from the pandemic. Included in that legislation …
Are You Missing Out On The Increased Child Tax Credit?Read More
The federal solar tax credit for the purchase and installation costs of residential solar-power systems is back! The Inflation Reduction Act signed into law by President Biden on August 16, 2022 provides new guidelines as well. This includes allowing batteries to also qualify for the credit. What is the Solar Tax Credit? The solar tax …
If your tax deductions normally fall short of itemizing (or if you itemize, but only marginally) consider using the strategy of bunching deductions to provide bigger tax benefits. The tax code allows most taxpayers to either utilize the standard deduction or itemize their deductions – whichever provides a greater benefit. As a rule, most taxpayers …
Consider Bunching Deductions To Provide Big Tax BenefitsRead More
We’ve just finished putting together our annual mid-year tax planning checklist for Nissen and Associate clients. All too often, taxpayers wait until December to think about their taxes. But when you wait that long, you’re bound to miss opportunities that could reduce your tax liability. Worse, you miss out on options that you can financially …
Throughout your life there will be certain significant life changing events that will significantly impact your taxes. Here are a few of those tax-affecting occasions: Getting Married – The Most Common of Life Changing Events Just got married or are considering getting married? Be aware that once you are married you no longer file returns …
