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Tips on Taxes and Tax Planning – Bakken CPA is Your Online Advisor
We all need tips on taxes and tax planning, QuickBooks and finances. Where do you go for help? Bakken CPA PC has a page on our website called Online Advisor. Visit Online Advisor to find tips on Taxes, Business and Finances. We post new tips each month. Some of...
Tax Planning Tip: The Cost of Cigarettes – Your money up in smoke!!!
Tax planning? Yes, bear with me for a second! Let's look at a tax planning tip. Ok, I’m not going to preach about the benefits of quitting smoking. We all know that smoking is unhealthy. But, with the cost of living rising and the fact that it is getting harder...
Did you receive your social security benefit statement for your tax return?
If you receive social security benefits then by the end of January you should receive a statement, Form number SSA-1099, from the Social Security Administration. You need this form to prepare your IRS income tax return. But don’t panic you still have another option....
3 Questions about Taking a Home Office Deduction on your Tax Return
Tax planning can be challenging and finding ways to reduce your taxes can by frustrating. Here are 3 common questions I am asked when it comes to the Home Office Deduction when filing tax returns. Can I take a Home Office Deduction to reduce the tax I owe? If you...
You Gambled and WON – do you have to report the income on your tax return?
The answer is YES!!! No matter whether you go to the casino, the race track or play the slots when you win, the IRS will be holding out its hands for its cut. Gambling income also includes any prizes you win like cars, trips or jewelry, all of which should be...