D&A Tax Service LLC

10/03/2022

Do you make any of these common bookkeeping mistakes?

09/30/2022

When life changes arise, it’s crucial to consider their implications on your financial health. This article showcases eight real-life examples can drastically alter your tax situation:
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Fluctuating taxes are one of life's certainties. Legislative changes can reduce or increase the amount of taxes you owe, but that isn't the only factor that can alter your tax situation. A variety of life events can impact your tax liability by altering your filing status, changing your tax bracket,...

09/29/2022

In order to file your tax return properly, it is important to keep track of these financial records.

09/28/2022

One of the most common questions we hear from business owners is, "How can I finance my business?" Feel free to contact us if you have any other questions!

09/27/2022

Bookkeeping Tip - Make sure you have a separate bank account for your business.

09/26/2022

Knowing your rights as a taxpayer is essential. Here is a guide from the IRS that will help you get to know them better.

As recommended by the National Taxpayer Advocate, the IRS has adopted a Taxpayer Bill of Rights.

09/23/2022

The IRS publishes a list of acceptable business expenses, known as Publication 535, to help business owners properly track their spending and file taxes. However, if you’re still unsure about whether a purchase is considered a business or personal experience, it’s best to confirm with an experienced tax professional to avoid future problems with the IRS. https://bit.ly/3xBWbYy

As a first-time business owner, you might be unfamiliar with the concept of separating personal and business expenses. Mixing the two not only makes it hard to determine your business' financial health but also causes tax complications. Other than cost savings, separating your expenses shields you f...

09/22/2022

Do you have virtual assets like Bitcoin? Don't know what needs to be reported? Find out in this article

Investors in digital assets like cryptocurrency and non-fungible tokens (NFTs) will face new IRS questions. Here's what to know.

09/21/2022

Don't get caught off guard by your tax bill in retirement, read about estimating your taxes in retirement here:

Do you have to pay taxes in retirement? Use this guide to determine how types of retirement income are taxed so you can plan accordingly.

09/20/2022

The Earned Income Tax Credit (EITC) helps low- to moderate-income workers and families get a tax break. If you qualify, you can use the credit to reduce the taxes you owe – and maybe increase your refund. See if you qualify here

If you’re a low- to moderate-income worker, find out if you qualify for the Earned Income Tax Credit (EITC) and how much your credit is worth.

09/19/2022

This interview will help you determine if your residential rental income is taxable and/or if your basic expenses associated with the rental property are deductible.

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Determine if your residential rental income is taxable and/or if your basic expenses associated with the rental property are deductible.

09/16/2022

There are two primary accounting methods you can use as a small business owner: cash and accrual accounting. Even if you don’t handle your own accounting and bookkeeping tasks, it’s vital to know how each of these accounting methods works so you can choose the correct bookkeeping practices for your company.
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Precise accounting is a critical component of running a successful business. There are two primary accounting methods you can use as a small business owner: cash and accrual accounting. Even if you don't handle your own accounting and bookkeeping tasks, it's vital to know how each of these accountin...