Shaw, Hull and Navarrette, CPA's

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Financial Fraud Scams

It seems like nearly every week the news warns us of a new identity theft or financial fraud scam.  There are several schemes currently ciruculating with fraudsters impersonating IRS representatives.  Straight from the IRS website, here are a few scams you need to...

Tax updates – Fall 2017

Tax updates - Fall 2017 The following is a summary of a few important tax developments that have occurred in the past three months. President Trump and key lawmakers reveal tax reform plan. The document provides some detail but leaves many specifics to be worked out...

Summer IRS Update

As we move into the fall season, we want to take time to discuss a few summer updates from the IRS.  Today we talk about the ability to amend returns for expensing election, the recently released 2018 inflation adjustments for Health Savings Accounts and information...

Revised I-9 required for new hires

The U.S. Citizenship and Immigration Service (USCIS) published a revised I-9 form in July 2017. On September 18, 2017 employers must use the revised form with a revision date of 07/17/17 N. The new form was modified with the intention to make it easier to navigate and...

Deductions for business meals

Deductions for business meals and entertainment expenses require you to jump through a couple extra hoops to qualify as deductible and they may be subject to limitations. Nevertheless, if you pay careful attention to rules outlined below, the expenses should qualify...

How long to retain income tax records?

How long should you retain your personal income tax records? You may have to produce those tax records if the IRS or a state taxing authority audits your return. In addition, lenders or other parties may require that you produce copies of your tax returns as a...

LLC: a popular entity choice

The LLC is becoming a popular entity structure.  Today we discuss some of the major reasons it might be appropriate for a business to operate as a limited liability company. A limited liability company (LLC) is somewhat of a hybrid entity in that it can be structured...

Home Office Deduction

Are you eligible for a home office deduction?  If you're self-employed and work out of an office in your home, and if you satisfy the strict rules that govern those deductions, you may be entitled to above-the-line business expense deductions for the following: the...

Winter Tax Update

This winter tax update is a summary of important tax developments that have occurred in the past few months that may affect you. If you would like to know more about how any of these developments please Contact Us On December 13, President Obama signed into law the...

Employee or Independent Contractor?

Employee or independent contractor?  The question of whether a worker is an independent contractor or employee for federal income and employment tax purposes is a complex one. It is intensely factual, and the stakes can be very high. If a worker is an employee, the...

Countdown to Tax Day!








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