Are you thinking about turning a business trip into a family vacation this summer? This can be a great way to fund a portion of your vacation costs. But if you’re not careful, you could lose the tax...
We are proud to announce Brown Edwards has been voted as the BEST ACCOUNTING FIRM in Southwest Virginia in Virginia Living Magazine’s 2016 Best of Virginia reader’s poll.
By investing in qualified small business (QSB) stock, you can diversify your portfolio and enjoy two valuable tax benefits:
Now that the April 18 income tax filing deadline has passed, it may be tempting to set aside any thought of taxes until year end is approaching. But don’t succumb. For maximum tax savings, now is the...
What 2015 tax records can you toss once you’ve filed your return? The short answer is: none. You need to hold on to all of your 2015 tax records for now. But this is a great time to take a look at...
Yes, the federal income tax filing deadline is slightly later than usual this year — April 18 — but it’s now nearly upon us. So, if you haven’t filed your return yet, you may be thinking about an...
Starting a new business is an exciting time. But before you even open the doors, you generally have to spend a lot of money. You may have to train workers and pay for rent, utilities, marketing and...
Tips for deducting losses from a disaster, fire or theft If you suffer damage to your home or personal property, you may be able to deduct these “casualty” losses on your federal income tax return. A...
Tax credits reduce tax liability dollar-for-dollar, making them particularly valuable. Two valuable credits are especially for small businesses that offer certain employee benefits. Can you claim one...
When it comes to deducting charitable gifts, all donations are not created equal. As you file your 2015 return and plan your charitable giving for 2016, it’s important to keep in mind the available...