Ascend November - Gobble up these tax tips
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| Ascend Accounting Group November Newsletter |
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| What's the best way to fix a broken pumpkin? |
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(Scroll down for the answer) |
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| Thanksgiving is right around the corner - let's discuss some potential tax breaks you could take advantage of now |
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| Are you considering converting your house to a rental property? |
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| If you don't structure the transaction correctly, you could cost yourself tens of thousands of dollars in taxes. |
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| Check your flexible spending accounts |
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These are "use it or lose it" accounts so don't miss out! |
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Your company can adopt a grace period which allows you up until March 15th of the following year to spend prior contributions without forfeiture. |
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| Do you have pets in the family? |
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You might be able to deduct expenses related to your pet if they qualify as:
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| - Medical Expense - Service Animals
- Business Expense - Guard Dog
- Charitable Expense - Foster Pets
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| The holidays are all about family! |
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If you are self-employed and report your income on a Schedule C, you need to hire your kids immediately! Contact us for more information on the immediate tax savings available to you. |
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| That's it for this month. We do more than just taxes and are always available to discuss potential tax savings with clients. Don't hesitate to reach out with questions on these issues are any other you might have. |
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"Your referrals are always greatly appreciated" |
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| Visit our website to see what we're up to: |
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| Our office will be closed the week of November 25th in observance of the Thanksgiving Holiday. |
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| Ascend Accounting Group, LLC 3175 Commercial Ave Ste 201 Northbrook, IL 60062 Office Number (224) 330-6700 |
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