By SaraKauai December 11, 2014
I have been using them for years and I absolutely love their entire staff. Not sure how I would make it without them. Special thanks to Jason for taking such great care of me. ...read more
By SaraKauai December 11, 2014
Jason set up my non-profit and has taken care of all my filings since then. I am extremely happy with his work and care. This really wouldn’t have been possible without him. Thanks a million – Shelly ...read more
By SaraKauai December 11, 2014
I had Jason come in and work with me on cutting some expenses. I started this company out of love for my profession but didn’t know much about running a business. After 10 years of letting the staff decide everything because I didn’t want the hassle, I found myself in trouble. Jason came in on a weekend and we spent 2 days going through everything top to bottom. I feel so thankful to have found him and able to start over again. This time in complete control over my business and finances. I really didn’t have a friend to help me and give me unbiased guidance until now. I would recommend Pioneer in a heartbeat!!!!! ...read more
CenturyLink is more than local phone service. Save on services for high speed internet, data, networking, satellite TV and more. ...read more
By CenturyLink Solution Center March 13, 2017
Which key deductions and credits will not be available to taxpayers on this year’s tax returns? 1. Medical Expense Deduction Thresholds Under the old rules, those who itemize could deduct medical expenses exceeding 7.5% of their adjusted gross income. Obamacare has now increased this threshold to 10%. For example, an individual with an adjusted gross income of $50,000 can only deduct expenses over $5,000, rather than the $3,750 limit that would have applied under the old rule. The primary exception is that the 10% threshold does not yet apply to people aged 65 and over and their spouses. These folks may continue to use the 7.5% threshold through tax year 2016, at which time they will default to the 10% framework along with everyone else. 2. Education Tuition Expense Deductions The higher-education tuition deduction, which allowed taxpayers to deduct between $2,000 and $4,000 of qualified tuition expense has expired and will likely not return in the near future. This puts an even greater burden on the parents and grandparents who are affording the bill. 3. Tax-FREE IRA Charitable Contributions IRA owners aged 70 1/2 and older can no longer distribute up to $100,000 of IRA funds tax-free to charitable organizations. As of 2014, those distributions must be taxed as ordinary income to the account owner before they can go to charity. 4. Teachers Education Supply Deductions Teachers are losing above-the-line deductions of up to $250 for unreimbursed educational expenses. With school and daycare budgets sinking to an all-time low, the teachers have been picking up the slack. However, with this new loss of our educational supply deductions I would bet that you will start seeing a lot less teachers volunteering to catch extra supply cost. 5. Homeowners Mortgage Insurance Premium Deductions As of 2014, homeowners are no longer able to deduct mortgage insurance premiums as interest. The mortgage debt exclusion has expired, which allowed underwater homeowners to exclude from taxable income the amount of any mortgage debt forgiveness granted to them by a bank. 6. Energy Efficient Home Improvement Deductions Many of the tax credits available for energy-efficient home improvements also expired at the end of 2013, including those for home heating and cooling systems, insulation, windows and sealing — although credits for certain plug-in electric vehicles and solar and wind technologies will remain in effect through 2016. Contact Pioneer Business Solutions at YakimaTaxService.com or YakimaBookkeeping.com ...read more
By Yakima Bookkeeping & Yakima Tax Service December 10, 2014
There are so many rules and regulations pertaining to charitable contributions. The IRS takes these things very seriously! If you get caught unintentionally donating to an unauthorized organization, all of your respectable deductions may be withdrawn. This could have an extraordinary impact on your previous tax filings; let on alone the fines on the monetary value once the effected tax return is adjusted to exclude the illegal contribution. Rules for Charitable Contributions: 1. Household contribution items include furniture, furnishings, electronics, appliances and linens. Items donated to charity generally must be in good used condition or better to be tax-deductible. A clothing or household item for which a taxpayer claims a deduction of over $500 does not have to meet this standard if the taxpayer includes a qualified appraisal of the item with the return. 2. Donors must receive a written acknowledgement from the qualified charity for all gifts worth $250 or more. It must include, among other things, a description of the items contributed. For all donations of property, including clothing and household items, get from the charity, if possible, a receipt that includes the name of the charity, date of the contribution, and a reasonably-detailed description of the donated property. If a donation is left at a charity’s unattended drop site, keep a written record of the donation that includes this information, as well as the fair market value of the property at the time of the donation and the method used to determine that value. Additional rules apply for a contribution of $250 or more. The written acknowledgment required to substantiate a charitable contribution of $250 or more must contain the following information: • Name of the organization; • Amount of cash contribution; • Description (but not value) of non-cash contribution; • Statement that no goods or services were provided by the organization, if that is the case; • Description and good faith estimate of the value of goods or services, if any, that organization provided in return for the contribution; and • Statement that goods or services, if any, that the organization provided in return for the contribution consisted entirely of intangible religious benefits, if that was the case. In addition, a donor may claim a deduction for contributions of cash, check, or other monetary gifts only if the donor maintains certain written records. 3. Make sure to look up weather the charity is qualified under the IRS database. Only donations to eligible organizations are tax-deductible. In addition, churches, synagogues, temples, mosques and government agencies are eligible to receive deductible donations. That is true even if they are not listed in the tool’s database. Contact Pioneer Business Solutions at YakimaTaxService.com or YakimaBookkeeping.com ...read more
By Yakima Bookkeeping & Yakima Tax Service December 10, 2014
Small businesses can benefit from accepting credit cards. Credit card processing companies now recognize that you may need to take a credit card while away from your office and have made that easy to do with your phone. Credit card machines come in a number of sizes, and small businesses have a variet... ...read more
Making a living from home offers independence and unlimited potential. To improve a home business strategy, explore the areas of your business that might benefit from a change. Home office organization, marketing strategies or communication with clients may be areas in need of improvement. ...read more