Navigating Success: Tax Planning Strategies for Small Businesses
Gary M. Kaplan, C.P.A., P.A. | Boca Raton CPA
by Gary M. Kaplan, C.P.A., P.A.
4M ago
Welcome to the blog of Gary M. Kaplan, C.P.A., P.A., where we strive to empower businesses with knowledge and strategies to optimize their financial health. Today, we delve into the world of tax planning, specifically tailored for small businesses. As a small business owner, understanding and implementing effective tax planning techniques can significantly impact your... The post Navigating Success: Tax Planning Strategies for Small Businesses appeared first on Gary M. Kaplan, C.P.A., P.A ..read more
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Small Business Tax Filing Tips Every Small Business Owner Needs to Know
Gary M. Kaplan, C.P.A., P.A. | Boca Raton CPA
by Gary M. Kaplan, C.P.A., P.A.
3y ago
If you’re a new small business owner (or even if this isn’t your first time around the block), taxes can be a bit overwhelming. It’s a totally different world from managing your taxes while working under an employer. It’s okay to need some help. Everyone was new once. Small business tax filing can be confusing.... The post Small Business Tax Filing Tips Every Small Business Owner Needs to Know appeared first on Gary M. Kaplan, C.P.A., P.A ..read more
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Essential Tax Deductions for Home Office Employees
Gary M. Kaplan, C.P.A., P.A. | Boca Raton CPA
by Gary M. Kaplan, C.P.A., P.A.
3y ago
If you’re one of the 16 million self-employed people in the US, there is a good chance that you find your taxes perplexing. After all, the rules prove different for the self-employed. For example, you must file taxes if you make more than $400 in a year.  Things get even more complicated if you work from a home office.... The post Essential Tax Deductions for Home Office Employees appeared first on Gary M. Kaplan, C.P.A., P.A ..read more
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10 Need-to-Know Tax Tips for Beginners
Gary M. Kaplan, C.P.A., P.A. | Boca Raton CPA
by Gary M. Kaplan, C.P.A., P.A.
3y ago
Tax season is always looming ahead and it is a daunting process. Stepping into it for the first time can leave you confused and open to a lot of issues. Making mistakes on your taxes can lead you to audits and missed opportunities for tax returns. You need to go into the tax season with an eye... The post 10 Need-to-Know Tax Tips for Beginners appeared first on Gary M. Kaplan, C.P.A., P.A ..read more
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How Do Tax Brackets Work: Everything You Need to Know in 2020
Gary M. Kaplan, C.P.A., P.A. | Boca Raton CPA
by Gary M. Kaplan, C.P.A., P.A.
3y ago
According to the IRS, the average taxpayer receives a tax return of $3,000. The thing is, many taxpayers don’t know what to expect when tax season rolls around. Some are even blindsided when they unexpectedly learn they owe the IRS. So long as you are a W-2 employee and claim 0 or 1 on your taxes,... The post How Do Tax Brackets Work: Everything You Need to Know in 2020 appeared first on Gary M. Kaplan, C.P.A., P.A ..read more
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1099-K: Your Guide to Filing Taxes for Online Income
Gary M. Kaplan, C.P.A., P.A. | Boca Raton CPA
by Gary M. Kaplan, C.P.A., P.A.
3y ago
Do you use Paypal for your business? Do you sell products on Etsy or Amazon?  Do you use card processors like Square or Venmo? If you answered yes, most likely you will need to file a 1099-K with your taxes. These forms can get confusing, but we have you covered. Read on to find out... The post 1099-K: Your Guide to Filing Taxes for Online Income appeared first on Gary M. Kaplan, C.P.A., P.A ..read more
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How to Pay Taxes Quarterly: A Simple Tax Guide for the Self Employed
Gary M. Kaplan, C.P.A., P.A. | Boca Raton CPA
by Gary M. Kaplan, C.P.A., P.A.
3y ago
The self-employment tax is just above 15.3%. It usually consists of Medicare and social security.  If you’re self-employed, you have to stay on top of your taxes. You have to know how much to pay and when to pay. This is why it’s helpful to have a software to keep track of your business and personal... The post How to Pay Taxes Quarterly: A Simple Tax Guide for the Self Employed appeared first on Gary M. Kaplan, C.P.A., P.A ..read more
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Filing Back Taxes? Here’s How to Get Old Tax Transcripts and Copies
Gary M. Kaplan, C.P.A., P.A. | Boca Raton CPA
by Gary M. Kaplan, C.P.A., P.A.
3y ago
What is a tax transcript? If you are having a hard time filing back taxes, an IRS transcript is a helpful copy of all the tax returns that you need. Simply put, you’ll need tax transcripts and copies before filing your back taxes. Want to learn how to get a copy of your tax return? Take a look... The post Filing Back Taxes? Here’s How to Get Old Tax Transcripts and Copies appeared first on Gary M. Kaplan, C.P.A., P.A ..read more
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The Independent Contractor Tax Form: Your Guide to the 1099
Gary M. Kaplan, C.P.A., P.A. | Boca Raton CPA
by Gary M. Kaplan, C.P.A., P.A.
3y ago
It is tax season and as deadlines approach, everyone is scouring the internet and bombarding their CPA with questions. And some of the most complex questions will come from independent contractors. The independent contractor tax form, or the 1099 form, some intricacies may not always be straightforward.  In this quick guide, we will show you how... The post The Independent Contractor Tax Form: Your Guide to the 1099 appeared first on Gary M. Kaplan, C.P.A., P.A ..read more
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What You Need to Do Before You Start Preparing Taxes
Gary M. Kaplan, C.P.A., P.A. | Boca Raton CPA
by Gary M. Kaplan, C.P.A., P.A.
3y ago
Filing a tax return is time-consuming. In fact, the average taxpayer spends about 13 hours filling out their return and getting everything in order for the IRS. If you have a more complicated return, it could take you even longer. For most people, this means sacrificing relaxing evenings at home or devoting an entire weekend to the... The post What You Need to Do Before You Start Preparing Taxes appeared first on Gary M. Kaplan, C.P.A., P.A ..read more
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