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The Dana McGuffin CPA Promises

When An Extension Makes Sense

While most people should file a tax return by April 17th, you have the option of delaying your filing date until Oct. 15 with a tax extension. When to file an extension Missing or incorrect information. If one of the forms you need to file your return has an error on it, it is often…

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Alert: Expired Home and Education Tax Breaks Revived

Congress passed a federal budget bill in early February that revived dozens of expired tax breaks for the 2017 tax year. They include a deduction for education expenses as well as several tax breaks for homeowners. If you have not yet filed your 2017 tax return, please be aware these late changes are retroactive to…

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Taxes and Virtual Currencies: What You Need To Know

Virtual currencies are all the rage lately. Here are some tax consequences you must know if you decide to dip your toe in that world. The IRS is paying close attention The first thing to know is that the IRS is scrutinizing virtual currency transactions, so if you live in the U.S. you’ll have to…

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Tips For When Your Employees Are Family Members

Working with family can be a pleasure. It can also be a pain, especially if you have to terminate a family member’s employment. Here are tips to help you ease the strain of mixing your family and employee relationships: Hire for the right reasons. Make your hiring and firing decisions based on the skill sets…

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