ARTICLES

Oct 23, 2023

The Tax Implications of Winning Money or Valuable Prizes?

If you gamble or buy lottery tickets and you’re lucky enough to win, congratulations! But be aware there are tax consequences.

Steve Julal

Oct 20, 2023

Casualty Loss Tax Deductions

Before the TCJA, eligible casualty loss victims could claim a deduction on their tax returns; however now, there are restrictions. Read More

Steve Julal

Oct 16, 2023

Green Leases

More recently, businesses are looking for ways to improve their environmental footprint, and green leases are top of the list.

The Fringe Benefits Related to Smartphones

Steve Julal

Oct 13, 2023

The Fringe Benefits Related to Smartphones

Businesses, who offer smartphones to employees for business use may want to consider claiming its usage under fringe benefits.

Non-Deductible Business Expenses - Expenses that CAN'T be Written Off

Steve Julal

Oct 11, 2023

Non-Deductible Business Expenses - Expenses that CAN'T be Written Off

To deduct business expenses on your tax returns, your expenses must be ordinary, necessary, and reasonable.

Steve Julal

Oct 10, 2023

Are Health Savings Accounts Beneficial?

Here are the benefits to using a Health Savings Account (HSA).

Steve Julal

Oct 4, 2023

How are Mergers & Acquisitions Taxed?

If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed.

Running an Unincorporated Business with your Spouse - The Tax Implications and Tax Solutions

Steve Julal

Sep 27, 2023

Running an Unincorporated Business with your Spouse - The Tax Implications and Tax Solutions

Do you and your spouse operate an unincorporated small business together? If so, there are tax implications you will face.

Three Critical Factors of Succession Planning

Steve Julal

Sep 25, 2023

Three Critical Factors of Succession Planning

Considering retiring from you business? There are 3 critical factors you'd need to consider when planning your succession retirement.

Steve Julal

Sep 25, 2023

Tax Consequences to Getting a Divorce

Getting a Divorce? Understand the tax consequences to separating your personal assets.

Steve Julal

Sep 18, 2023

Depreciating Business Assets

Understand how your business assets depreciate and are calculated on your 2023 taxes.

The Tax Rules to Selling your Home for a Big Profit?

Steve Julal

Sep 13, 2023

The Tax Rules to Selling your Home for a Big Profit?

If you’re planning to sell your home or you sold one in 2023, be aware of the tax implications.

Plan Now for Year-End Gifts with the Gift Tax Annual Exclusion

Steve Julal

Sep 11, 2023

Plan Now for Year-End Gifts with the Gift Tax Annual Exclusion

Thinking of making a large donation? Consult with your VAAS Tax Consultant beforehand to make sure this tax exclusion applies.

Could your Business Benefit from Interim Financial Reporting?

Steve Julal

Sep 8, 2023

Could your Business Benefit from Interim Financial Reporting?

Engaging in interim financial reporting more frequently may help your company stay better attuned to the nuances of running your business.

Steve Julal

Sep 6, 2023

Reasons to Hire a CPA

Hiring a CPA for your business is important and a necessary for any business. There are many benefits to working with a CPA.

Earn more than $10,000 in Cash for your Business? Here’s how to Report it on your Tax Returns.

Steve Julal

Aug 28, 2023

Earn more than $10,000 in Cash for your Business? Here’s how to Report it on your Tax Returns.

Do you receive $10,000 in cash, or cash equivalents, for your business? Here's what the IRS says about reporting it.

Advantages of Using an LLC for your Small Business

Steve Julal

Aug 23, 2023

Advantages of Using an LLC for your Small Business

You can operate your small business in several ways, but there are advantages of using an LLC. Here they are.

Make Energy-Efficient Home Improvements to Receive a Tax Break

Steve Julal

Aug 15, 2023

Make Energy-Efficient Home Improvements to Receive a Tax Break

Thanks to the Inflation Reduction Act of 2022, you may be eligible to receive an enhanced residential energy tax credit next tax season!

Student Loan Interest - Are they Deductible?

Steve Julal

Aug 13, 2023

Student Loan Interest - Are they Deductible?

The student loan pause is coming to an end. If you've begun making payments, your interest paid may offer additional tax deductibles.

Nakita Rowell-Stevens

Aug 2, 2023

Two Sides of the Same Coin

Best practices for managing your accounts payables and receivables as a business owner.

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