The 2022 Tax Return Season is here. Let our experienced tax professionals at Downs & Associates help you get your taxes ready. For more information on the 2022 tax season, visit the IRS.gov website.
If you are going to Shop Online, be sure that you shop smart and safely.
For Online Shopping Tips, read more here at LifeLock.
Tax Tip: Keep track of Business Purchases.
You need to be able to prove your business purchases in case of a tax audit.
Be sure and keep written documentation, receipts, etc., so that if you were audited there would be no changes in the taxes due.
Not sure what purchases are deductible? Click here to visit Intuit's 2022 Complete List of Small Business Deductions.
Having a healthy budget is just as important as maintaining a healthy body. To get your finances in order, try the 50/30/20 rule. Divide your budget into 50%, 30% and 20%.
To read more about the 50/30/20 rule, click here for the Intuit Blog.
Have you ever received an email urging you to reply by clicking on a link, otherwise your bank account or credit card might be suspended? If so, you have been solicited by a technique thieves use that is known as "phishing." Phishing emails request you to reply with personal information such as your credit card number or PIN to confirm your identity. Once the thieves receive your personal information, your identity could be at risk.
Thankfully, there are ways to recognize "phishing" emails.
How to recognize a "phishing" email:
Downs and Associates CPAs, LLC