The home office deduction may not be all that it seems

Home Office Deduction Rancho Cucamonga - Tax Officer

Taxes are something that we cannot completely avoid. Working with a skilled tax specialist, however, you can learn how to make the most of what you have. One thing you may have but haven’t been taking advantage of is a home office. If you do, you’re not alone. It is estimated that 26 million taxpayers in our country have home offices, and yet only 3.4 million claim deductions for a home office. Many tax experts agree that taxpayers make a mistake by not claiming home office deductions. At the same time, there is understanding that the potential reason for forgoing … Continue reading

What are qualified educational expenses?

What are Qualified Educational Expenses in Rancho Cucamonga - Man with laptop

With the rising costs of an extended education, post-secondary students and their parents could use whatever help they can get in maximizing expenditures. The Internal Revenue Service has two different credits that may be of assistance. The trick is learning which tax credit will provide you with the most benefit. Whyte and Associates is a tax and accounting service that has been serving the Inland Empire since 1956. We are here to help you make sense of qualified educational expenses. Tuition and other expenses incurred as a direct result of college attendance are considered qualified educational expenses. As mentioned, there … Continue reading

Tax deductions: to itemize or not

Itemizing Tax Deductions in Rancho Cucamonga - Tax Free Person

We all have the same capabilities to itemize our taxes if we so choose. The issue is that, for many, let’s face it, taxes can be frightening. It is easy to think that itemizing deductions would be A, difficult, and B, a red flag. In reality, one in every four taxpayers would benefit by itemizing deductions, keeping more of their hard-earned money for their own needs. We understand that the pressure and uncertainty that many people feel about paying taxes may keep them from exploring the potential for advantageous deductions, such as charitable donations, property taxes, and mortgage interest. At … Continue reading

Why you may want to trade software for a personal tax accountant in Rancho Cucamonga

Personal Tax Accountant Rancho Cucamonga - Tax Advisor

When faced with an important job, you must ask yourself whether you can achieve the result you want by doing the work yourself, or if you need the help of an experienced professional. While it is possible to prepare taxes using software, millions of people continue to choose preparation by a personal tax accountant. The team at Whyte & Associates in Rancho Cucamonga can explain why. Tax preparation using software is an affordable option that lets you quickly identify your tax obligations in a given year. In most cases, this process is simplified and convenient. However, there are numerous reasons … Continue reading

Should I hire a business consultant service near me for my personal and corporate tax preparation?

Should I hire a business consultant service near me for my personal and corporate tax preparation?

Many small business owners think about self-preparing both their personal and corporate taxes. Numerous websites and tax software companies promise a seamless and easy experience using their service. However, many professionals reach a point where they ask, “Is there a business consultant near me that could make this process easier and more effective?” The professionals at Whyte & Associates have helped countless clients prepare their annual tax documentation. While there are services available that can help with simple tax preparation, they don’t work well for every person or business. These systems also aren’t designed to provide advice or help a … Continue reading