Where is my refund

Dude, Where is my refund?! – LNK Tax Group

Great Question! This is one we get on a weekly basis. There a handful of reason why you have not received your refund. To start, the best and fastest way to get your tax refund is to combine electronic filing with direct deposit. Paper filing your return can take up to 16 weeks to process…
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Maximizing Deductions - Home Office

Maximizing Deductions – Home Office – LNK Tax Group

If your office space is located in your house, you can deduct your bills for utilities, homeowners’ insurance, homeowner’s association fees, security, and general repairs & maintenance. Mortgage interest and property taxes are deductible expenses if you qualify for home office deductions. You can deduct the percentage of the square footage of the office divided…
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Maximizing Deductions - Travel Expense

Maximizing Deductions – Travel Expense – LNK Tax Group

Business travel is allowed for several reasons for business owners. Often business owners are reluctant to take travel deductions for business or are unaware with more simple strategies, they can deduct travel combined with vacation. Travel for new business. Traveling to identify new locations, potential M&A or to acquire new investment property is all deductible…
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tax filing deadline

Tax Day: The July 15th Deadline – LNK Tax Group

The filing deadline for 2019 taxes is right around the corner, so it is time to start thinking about taxes. If you haven’t prepared your 2019 taxes yet, now is the time to get started. The IRS extended the 2019 tax deadline to July 15 as a result of the COVID-19 pandemic and  now the…
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Strategic Tax Planning - Selling Stock to Buy a Home

Strategic Tax Planning – Selling Stock to Buy a Home – LNK Tax Group

Buying a home with stock still requires that you pay capital gains tax. Paying taxes on stock gains is unavoidable whether or not you plan to use your gains as a down payment on a house. The tax rate on long-term capital gains, the stocks you held onto for more than one year, is lower…
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Strategic Tax Planning - Record Keeping

Strategic Tax Planning – Record Keeping – LNK Tax Group

Good records will help you monitor the progress of your business, prepare your financial statements, identify sources of income, keep track of deductible expenses, keep track of your basis in property, prepare your tax returns, and support items reported on your tax returns. You may choose any record keeping system suited to your business that…
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