Koffi Bona Taxes&Accounting Services

07/18/2020

Most self-employed are unaware that by moving to an S-Corp, they can become their own W2 employees, and by doing so they reduce their self-employment taxes and save thousands of dollars every year. Tax savings is the most obvious reason for self-employed to become an S Corp, however, there are many benefits to the S-Corp structure.

03/20/2020

BREAKING NEWS: Treasury secretary says tax filing deadline moved to July 15

03/20/2020

Treasury Tax Updates:

IRS Filing Deadlines remain the same: Apr 15 for U.S.-based taxpayers,
If you owe tax, the deadline to pay has been extended (interest-free) for 90 days to Jul 15.

We hope things will be back to normal soon. Until then, stay safe.

02/07/2020

Top 7 Mistakes that Rideshare Drivers make at Tax Time

1. Drivers don’t deduct all the mileage they’re entitled to

2. Drivers don’t write off all or any of the expenses they're allowed to deduct

3. Drivers aren’t prepared when they start filing

4. Drivers pay taxes on Uber or Lyft’s fees rather than deducting them

5. Drivers double deduct vehicle expenses. This means that you have to choose between deducting your mileage, and deducting those “actual car expenses”

6. Drivers underestimate their tax prep costs for the first year

7. Drivers try to deduct personal expenses

01/25/2020

FYI

Taxpayers who claim the Earned Income Tax Credit or the Additional Child Tax Credit may experience a refund hold or delay. Learn more.

01/14/2020

The IRS will begin accepting individual tax returns on January 27.

Local business

01/01/2020

May the new year be only about prosperity and profit! You work very hard, and deserve all the best. Can't wait to see you soon, by the end this month. Happy New Year!

08/11/2019

Happy Eid to all my Muslim clients!

07/01/2019

This for you my self-employed clients looking for a way to buy house.

Speak with one of our local experts today.

04/07/2019

The deadline to file your taxes is almost here. If you've not already filed your taxes and need someone else to do them for you, please check with us for an appointment.

02/08/2019

Drivers aren’t prepared when they start filing

In reality, you can deduct your mileage on the way to the first passenger, between passengers, and on the way home at the end of the day. This usually results in doubling your deductible mileage.

Do yourself a favor and start tracking your mileage as soon as possible.

Mileage isn’t the only deduction that drivers leave on the table. Deductions for car cleaning, passenger goodies, cell phone bills, and a whole lot more are available to rideshare drivers. You could end up reducing your effective tax rate significantly if you take advantage of all of them!

02/05/2019

01/25/2019

IRS announces e-file open day! IRS will begin processing tax returns on Monday, January 28, 2019.Be the first in line for your tax refund. Call or text for your appointment.

01/01/2019

Happy new year 2019

12/22/2018

New tax law upped standard deduction by double for both indiv.and married couples, which expected to result in fewer itemizing .

12/09/2018

Friday, I was able to help my client at Denver IRS office. Happy client is the most rewarding part of this business.

12/06/2018

Tax season is around the corner.