We specialize in bookkeeping, payroll, income tax return preparation, and retirement planning, and serve a nationwide clientele consisting of individuals and businesses of all types and sizes (LLC, partnerships, C & S Corporations), as well as trusts and estates. As financial problem solvers, we provide practical advice and proactive solutions with personalized service. We are affordable, experienced, and friendly, and we tirelessly study and research the ever-changing world of tax law and regulation so that we can help every client realize the greatest possible savings and return on investments. Our office is conveniently located in Dover, Delaware. Please contact us today to find out more about how we can make YOUR life less taxing!Tax
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"Remember, diamonds are only lumps of coal that stuck to their jobs." -B.C. Forbes
Whether you're trying to stick to a budget, a business plan, a parenting strategy, or an exercise plan, envision the end result and keep at it.
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๐ช๐ต๐ ๐ถ๐ ๐ด๐ฒ๐๐๐ถ๐ป๐ด ๐ฎ ๐ฏ๐ถ๐ด ๐๐ฎ๐
๐ฟ๐ฒ๐ณ๐๐ป๐ฑ ๐ฏ๐ฎ๐ฑ?
Because it means you gave the government too much of your paycheck all year.
We get it. A refund feels good when it hits your account.
But that money was yours the whole time! So, with a few adjustments, you could make that money work for you now.
1. ๐ฌ๐ผ๐๐ฟ ๐๐ถ๐๐ต๐ต๐ผ๐น๐ฑ๐ถ๐ป๐ด
This is the amount your employer takes out of each paycheck for taxes. If too much is coming out, updating your W-4 can help bring that number closer to what you actually owe.
2. ๐ฌ๐ผ๐๐ฟ ๐๐ถ๐ฑ๐ฒ ๐ถ๐ป๐ฐ๐ผ๐บ๐ฒ
If you freelance, drive for an app, sell online, or earn income outside your W-2 job, itโs better to plan for those taxes during the year instead of being surprised later.
3. ๐ฌ๐ผ๐๐ฟ ๐ฒ๐
๐๐ฟ๐ฎ ๐ฐ๐ฎ๐๐ต
Money sitting with the IRS all year could have been in a savings account, retirement account, HSA, or another place where it had a chance to work for you.
True or false: Iโd rather get a smaller refund if it meant keeping more money in my paycheck each month.
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๐ฟ๐ค ๐ฎ๐ค๐ช๐ง ๐๐ค๐ค๐ ๐จ ๐ข๐๐ฉ๐๐ ๐ฎ๐ค๐ช๐ง ๐๐๐ฃ๐ ๐๐๐๐ค๐ช๐ฃ๐ฉ ๐ง๐๐๐๐ฉ ๐ฃ๐ค๐ฌ?
We donโt mean โclose enoughโโฆ Do they actually match?
Because if they donโt, expenses never make it into your books, income can get counted twice, your profit ends up looking higher (or lower) than it really is, and you wind up paying taxes based on the wrong number.
We see this more than youโd think. It comes down to having regular reconciliation.
A simple monthly check fixes most of this, soโฆ
โข Do it the same day each month
โข Match your bank balance to your software
โข Review anything that hasnโt cleared
โข Clean up old or duplicate transactions
If you waited until tax time to sort things out this year, this is your chance to stay ahead of it for next year.
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First State CPAs & Associates |
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|
18 S. State St, Dover, DE 19901 |
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| (302) 736-6657 | |
| Business Hours | |
| January 1st January 31st | |
| MondayโFriday: | 8amโ5pm |
| Saturday & Sunday: | closed |
| February 1st April 15th | |
| MondayโThursday: | 8amโ6pm |
| Friday: | 8amโ5pm |
| Saturday: | By appointment |
| Sunday: | closed |
| April 16th December 31st | |
| MondayโThursday: | 8amโ5pm |
| Friday, Saturday & Sunday: | closed |