by Danielle K. Robinson CPA | Jan 11, 2022 | #AskACPA
Question: What are the advantages of starting my business as a LLC? For new businesses, I highly recommend incorporating as a LLC. Here are some items a business owner should consider: 1. It is relatively inexpensive and easy to setup by filing an articles of...
by Danielle K. Robinson CPA | Dec 30, 2021 | #AskACPA
Question: Can I purchase a vehicle for my business that weighs more than 6,000 pounds for $50K and deduct the amount on my tax return? I get a lot of questions on this topic pretty frequently. The answer is “Yes” you can deduct up to $50K BUT with some...
by Danielle K. Robinson CPA | Dec 21, 2021 | #TaxTipThursday
We are switching it up and giving Tax Tips on a Tuesday! For those that dabble in trading Virtual Currency aka Bitcoin, Ethereum, Dogecoin, Luna, etc. this one is for you. With the recent volatility in the market, you can deduct a maximum of $1,500 ($3,000 for Married...
by Danielle K. Robinson CPA | Dec 9, 2021 | #TaxTipThursday
It’s the Season of Giving! And what better way to get into the Holiday Spirit than by giving a cash contribution to your favorite charitable organization. Not only are you supporting their mission but you’ll be able to deduct the amount on your tax return....
by Danielle K. Robinson CPA | Nov 18, 2021 | #TaxTipThursday
Calling all Dreamers, Jack of all Trades, and Entrepreneurs! Turn whatever you love to do into a legit business. A Business is defined by the IRS as an “activity carried on for a livelihood or in good faith to make a profit.” And with that, you can deduct...
