​Choosing the right Certified Public Accountant (CPA) is one of the most important decisions you’ll make for your financial well-being. Whether you’re a small business owner, an independent contractor, or an individual looking to streamline your taxes, a good CPA can save you time, money, and stress. However, not all CPAs are created equal. To help you make an informed decision, here are some common pitfalls to avoid when shopping for a new CPA. ​1. Focusing S ..read more

​When it comes to managing finances, hiring a Certified Public Accountant (CPA) can make a world of difference. Yet, many myths and misconceptions surround CPA services, causing some people to miss out on the full benefits they offer. Today, we're debunking the top 5 myths about CPA services to help you understand how a CPA can be a valuable ally year-round. Myth 1: CPAs Are Only Needed During Tax Season Fact: While CPAs are invaluable during tax season, their expertise extends far beyond just filing taxes. CPAs provide a wide range of services, including financial planning, auditing, and bu ..read more

​When it comes to filing your taxes, every deduction counts. Deductions reduce your taxable income, potentially saving you a significant amount of money. However, many taxpayers overlook some valuable deductions simply because they are unaware of them. Here’s a list of top tax deductions you might be missing and how you can take advantage of them. 1. Student Loan Interest Deduction If you’re paying off student loans, you might be eligible to deduct up to $2,500 of the interest paid on these loans. This deduction can be taken even if you don’t itemize your deductions. Just make sure you meet t ..read more

​In today's ever-evolving economy, freelancing and gig work have become increasingly common ways to earn a living. While these flexible opportunities offer freedom and autonomy, they also come with unique tax considerations. As a freelancer or gig worker, understanding how to navigate the tax landscape can help you maximize your savings and stay compliant with the law. 1. Keep Detailed Records: One of the most crucial aspects of tax preparation for freelancers and gig workers is keeping detailed records of income and expenses. Maintain organized records of all payments received, invoices sent ..read more

Welcome to the exhilarating world of cryptocurrency! Whether you're a seasoned crypto trader or a curious newbie dipping your toes into the digital waters, navigating the realm of crypto gains and taxes can feel like exploring uncharted territory. But fear not, because in this post, we're diving headfirst into the fascinating intersection of crypto investments and tax obligations. So, grab your virtual helmets and join us on a journey through the taxation station – where Uncle Sam keeps a watchful eye on your crypto gains. 1. Decrypting Crypto Gains: Understanding Taxable Events In the dyna ..read more

Photo by Leeloo The First: https://www.pexels.com/photo/documents-for-calculating-taxes-8970297/ ​Today, let's explore some essential strategies to sidestep common tax pitfalls and maintain financial stability. In this discussion, we'll focus on practical steps to help you navigate the intricacies of taxation with ease. Organized Record-Keeping: Keeping track of financial documentation is a fundamental aspect of responsible tax management. Misplacing receipts may seem innocuous, but it can lead to complications. Maintain an organized record-keeping system, be it physical or digital, to enh ..read more

​If you're a small business owner, you may have nightmares about getting a letter from the IRS saying that your tax return has been selected for an audit. But don't panic. An audit doesn't have to be a scary or stressful experience if you know how to prepare for it. Here are some tips to help you get ready for an IRS audit and avoid any unpleasant surprises. ​1. Understand why you were audited. The IRS uses various methods to select returns for audit, such as random selection, computer scoring, or matching information from third parties. Sometimes, you may be audited because of a mistake or d ..read more

Starting a business is an exciting endeavor, but before you dive headfirst into the world of entrepreneurship, there's an essential decision to make: choosing the right business structure. Think of it as the foundation upon which your business will stand. It affects everything from how you pay taxes to your personal liability. It's important to pick the best option for you, so let's take a look at the choices: 1. Sole Proprietorship: The One-Person Show If you're a solo act and want to keep things simple, the sole proprietorship is your go-to structure. You're the boss, and you're in charge o ..read more

​Congratulations, lovebirds! Your recent wedding marks the beginning of an incredible adventure together. While the thought of accounting may not sound like the most thrilling aspect of newlywed life, fear not! In this blog post, we'll infuse a dash of fun into the world of finances, providing you with essential accounting tips to ensure your journey as a couple is both prosperous and enjoyable. Let's dive in and discover how to master the art of managing your money while having a blast along the way! The "Money Talk" Date Night: Who says discussing finances can't be fun? Transform the drea ..read more

Tax season is finally over! For many people, it’s a big relief to have their taxes filed and off their to-do list. But have you ever wondered what happens next for your finances after tax season ends? This is a great time to evaluate your financial situation and make a plan for the future with the help of your CPA at Warner Tax Group. ​ Here are five ways Warner Tax Group can help you after tax season: Tax Planning: Now that tax season is over, it's the perfect time to start thinking about tax planning for next year. Our team at Warner Tax Group can help you develop a plan to minimize your ..read more