Taxit Financial Services

Taxit Financial Services Taxit delivers clear, compliant, year-round tax and financial support for individuals, gig workers, and small business owners across Massachusetts.

Welcome to Taxit Financial Services! At Taxit Financial Services, we specialize in providing comprehensive tax and bookkeeping solutions tailored for real estate professionals, self-employed individuals, and clients with complex financial situations. Our mission is to help you navigate the intricacies of tax and financial management so you can focus on what you do best. Our Services:
Tax Advisory:

Expert guidance on tax planning, compliance, and optimization to minimize liabilities and maximize returns. Accounting: Accurate and reliable bookkeeping and accounting services to keep your financials in order. Business Formation: Assistance with the formation of new businesses, including entity selection and registration. Credit Solutions: Personalized credit strategies to help you improve your credit score and secure better financing options. Why Choose Us? Industry Expertise: With a focus on real estate professionals and self-employed individuals, we understand the unique challenges you face. Personalized Approach: We provide customized solutions that cater to your specific financial needs and goals. Comprehensive Support: From tax preparation to business formation, we offer a full range of services to support your financial success. Client-Centered: Your satisfaction is our top priority. We are dedicated to providing exceptional service and building long-term relationships. Whether you’re looking to streamline your bookkeeping, optimize your tax strategy, or start a new business, Taxit Financial Services is here to support you every step of the way. Contact us today to learn how we can help you achieve your financial goals! www.taxitfinancialservices.com

If your estate might exceed the federal estate tax exemption ($15 million for 2026), you’re probably concerned about fut...
09/02/2026

If your estate might exceed the federal estate tax exemption ($15 million for 2026), you’re probably concerned about future estate tax liability. A spousal lifetime access trust (SLAT) may help. A SLAT can allow you to remove wealth from your estate tax-free while providing a safety net if your needs change in the future. Essentially, a SLAT is an irrevocable trust you establish for the benefit of your spouse plus your children or other relatives. Your spouse is granted limited access to the trust’s funds during his or her lifetime, giving you indirect access. Call us at (617) 313-8802 to discuss whether a SLAT makes sense for you.

Many tax law changes went into effect this year. So it’s important to evaluate where your business stands — and where it...
09/01/2026

Many tax law changes went into effect this year. So it’s important to evaluate where your business stands — and where it’s headed — before year end. Tax planning opportunities may still be available, but they’ll become more limited as the calendar winds down. Whether you’re considering equipment purchases, compensation strategies, retirement plan contributions or other tax-saving moves, now is the time to look ahead and review your options. Call us at (617) 313-8802 to bring your 2026 tax strategy into focus.

Running a successful business requires more than keeping up with the day-to-day. It also requires taking time to evaluat...
08/31/2026

Running a successful business requires more than keeping up with the day-to-day. It also requires taking time to evaluate your financial position, identify opportunities and plan for what’s ahead. Whether you need assistance with accounting, bookkeeping, tax planning or strategic business advice, we can help you gain clarity. Our team provides practical guidance tailored to your specific needs, so you can focus on running and growing your business. Contact us at (617) 313-8802 to learn more.

Scholarship awards can provide significant financial relief to families of college-bound students. Most, but not all, of...
08/28/2026

Scholarship awards can provide significant financial relief to families of college-bound students. Most, but not all, of the awards are tax-free. To qualify for tax-free status, scholarships must meet three criteria: 1) The student must be a degree candidate at an eligible educational institution, 2) the award must be used to pay for tuition and fees, books, and certain supplies (not room and board or travel), and 3) the award can’t represent wages for teaching or research. Many graduate student awards have employment compensation components, so they may be taxable. Also, taxable scholarship money could potentially be subject to the “kiddie” tax. Contact us at (617) 313-8802 for more information.

If your trust is subject to high state income tax, you may be able to change its residence (or “situs”) to a state with ...
08/26/2026

If your trust is subject to high state income tax, you may be able to change its residence (or “situs”) to a state with low or no income taxes. Relocating a trust may offer a tax advantage if the trust is an irrevocable nongrantor trust, accumulates (rather than distributes) substantial amounts of ordinary income or capital gains, and can be moved to a state with low or no taxes on accumulated trust income. Call us at (617) 313-8802 for more information.

Grabbing lunch with a client doesn’t just build rapport. It can also trim your tax bill. Under federal tax law, you can ...
08/25/2026

Grabbing lunch with a client doesn’t just build rapport. It can also trim your tax bill. Under federal tax law, you can generally deduct 50% of qualifying business meal costs. Whether you're dining with clients, partners or employees, these deductions can reduce your taxable income. Keep detailed records of the expenses, including receipts. Document the business purpose of each meal and the business relationship of the people you dine with. Contact us at (617) 313-8802 with any questions about this deduction.

One of the easiest ways to reduce the size of your taxable estate is to take advantage of your gift tax annual exclusion...
08/24/2026

One of the easiest ways to reduce the size of your taxable estate is to take advantage of your gift tax annual exclusion. For 2026, you can transfer up to $19,000 per recipient gift-tax-free. And you can double the exclusion to $38,000 per recipient if you split the gifts with your spouse. But it’s critical to understand the rules of gift-splitting to avoid unintended tax consequences. To elect to split gifts, the spouse making the gift must file a gift tax return, and the other spouse must consent by checking a box on the return and signing it. Contact us at (617) 313-8802 for additional details.

The IRS has increased the 2026 cents-per-mile rates for calculating tax-deductible vehicle operating costs due to rising...
08/21/2026

The IRS has increased the 2026 cents-per-mile rates for calculating tax-deductible vehicle operating costs due to rising fuel costs. Effective July 1, 2026, the standard mileage rate for the business use of a car, van, pickup truck or panel truck is 76 cents per mile, up from 72.5 cents per mile for the first half of the year. The revised rate for medical and eligible moving purposes is 23.5 cents per mile, up from 20.5 cents per mile. For charitable driving, the 14 cents per mile rate remains unchanged. These rates apply to gasoline- and diesel-powered vehicles as well as electric and hybrid ones. To protect your deduction, keep detailed mileage records. Call us at (617) 313-8802 with questions.

Are your bills piling up? Managing accounts payable can be challenging for small businesses — especially when payment ob...
08/19/2026

Are your bills piling up? Managing accounts payable can be challenging for small businesses — especially when payment obligations aren’t clearly tracked. QuickBooks Online tools can help by organizing upcoming bills, automating bill entry, and simplifying electronic or check payments. Stronger payables management may reduce missed deadlines and late fees and improve cash flow visibility. We can help your business use QuickBooks Online more efficiently and streamline your payables process. Contact us at (617) 313-8802 to learn more.

Business owners: Should you use cash to pay federal tax debt or keep it for operational needs? Paying the IRS sooner may...
08/18/2026

Business owners: Should you use cash to pay federal tax debt or keep it for operational needs? Paying the IRS sooner may ease stress and reduce penalties, but draining cash can disrupt operations, payroll and growth. There’s no one-size-fits-all answer. In many cases, the IRS offers options — such as installment agreements, temporary collection holds or penalty relief — that may help you stay compliant while preserving cash flow. The biggest risk is choosing extremes, either depleting cash reserves or ignoring the issue. A balanced strategy often works best. Call us at (617) 313-8802. We can review your options and help you create a plan.

Address

Boston, MA

Opening Hours

Monday 10am - 5pm
Tuesday 10am - 5pm
Wednesday 10am - 5pm
Thursday 10am - 5pm
Friday 10am - 5pm

Telephone

+16173138802

Website

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