Overview: If you use part of your home as an office, chances are good that you may be qualified to score a home office tax deduction. Here’s a quick guide to what can be claimed, how claims are calculated, and how it works! The onset of COVID-19 has...
Overview: Learn what accounting software is best for small businesses and startups It’s been 2 years since we bid goodbye to Covid, but the horrors continue to haunt our economy. Congress has passed legislation to lift the enterprises, but the effects of the virus...
Please take a moment to read through the list below. Do any of those changes impact your situation either for 2020 or 2021? Maybe you are not sure? Did you already file for 2020 and may or may not have taken advantage of those changes, especially bullet points 2...
Life is full of deadlines. From monthly bills to project due dates, one’s calendar can fill up fast. And it seems that no matter our organizing genius or planner mentality, some important dates can get forgotten. However, when it comes to your taxes, these are the due...
We’d Like to Introduce Ourselves Here at Prospect Financial Solutions, we have a passion for taxes & bookkeeping and a drive to ensure your business thrives in this competitive marketplace. We believe in a holistic approach to taxes & bookkeeping, and our...
To answer that question is to define the two words. Mortgage interest, property tax, and unreimbursed employee expenses are common Itemized Deductions. Or, if you don’t have enough Itemized Deductions, you will get a deduction called the Standard Deduction. When...
