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Sherry S. Borshoff, EA

Lottery and Taxes | What You Need to Know about Your Winnings

Lottery and Taxes | What You Need to Know about Your Winnings

The lottery and taxes go together like peanut butter & jelly, although it does not taste nearly as good. In 2018, when the lottery was up in the billions – that’s right, billions with a “B”, there was much discussion about the amount of tax that would be owed from the winner would owe. Sandra …

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Claiming Dependents | Your How-to Guide

Claiming Dependents | Your How-to Guide

Claiming Dependents Claiming dependents can be very beneficial. The government realizes that having dependents costs you money, and they have worked to ensure that you receive the best benefits, including credits, deductions, and other benefits.  In this article, we will look at what qualifies a dependent and all of the benefits you can receive for …

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Business Startup Costs & Taxes What and How to Make Deductions

Business Startup Costs & Taxes: What and How to Make Deductions

If you are starting a new business, you are probably facing a lot of business start-up costs. This can be very confusing when it comes to taxes. What can you deduct in year one, and how do you make deductions in the following years? It’s an overwhelming situation.  Luckily, the government allows you to deduct …

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7 Things the IRS Doesn't Want You To Know cover

7 THINGS THE IRS DOESN'T WANT YOU TO KNOW

Download our guide to ensure you know everything you need to and are prepared to deal with the IRS.