Shillingford's Bookkeeping & Tax Services

11/23/2018

Tax Accounting Humor Friday

11/23/2018

Join Shillingford's Bookkeeping & Tax Services in supporting and in Spring on Nov 24.

11/22/2018

We want to say thank you for your support and friendship, and to wish you a happy holiday season!

11/21/2018

Wednesday Wisdom

11/20/2018

If you are planning an expenditure and expect the tax deduction to help cover the cost, please call us in advance to ensure that the tax benefit will be what you anticipate. Learn more.

Individuals are always looking for tax deductions that can reduce their tax liability. But what is the actual tax benefit derived from a tax deduction? There is no straightforward answer because some deductions are above the line, others must be itemized, some must exceed a threshold amount before b...

11/19/2018

Tax Return Errors: Tips To Avoid Them

This video talks about Tax Returns Errors and tips on how to avoid those errors, when preparing a tax return. Visit my Website at https://www.shillingfordboo...

11/16/2018

The tax code provides a variety of tax credits for individual taxpayers, some of which can only be used to offset your tax liability, while others are fully refundable. Don't overlook these substantial tax benefits.

Tax credits are a tax benefit that offsets your actual tax liability, as opposed to a tax deduction, which reduces your income. Congress provides tax credits to individual taxpayers for a number of reasons, including as a form of assistance for lower-income taxpayers, to stimulate employment, and to...

11/15/2018

Year-end tax planning: Have you ever thought about pre-paying your state income and property taxes? Learn more.

11/13/2018

Having an abnormally low taxable income for the year can actually give rise to some interesting tax-planning strategies, including taking or increasing IRA distributions, deferring deductions, doing Roth IRA conversions, taking advantage of the zero capital gains tax rate, and capitalizing rather than expensing business purchases.

If your taxable income is exceptionally low this year, or even if you expect not to be required to file a tax return this year, a number of tax opportunities may be available to you. But time is running short, since these opportunities will require action on your part before year’s end.