Tax Tips Archives - John F. Dennehy Jr., CPA, PC
John F. Dennehy Jr., CPA, PC

Category Archives for Tax Tips

5 Overlooked & Little-Known Tax Write Offs for Businesses

As a business owner, you have a lot to consider. But if you’re not taking advantage of our top five overlooked and little-known tax write-offs, you could be missing significant opportunities. In fact, you could be overpaying in taxes and giving Uncle Sam funds that could be reinvested into your business. In either case, a tax […]

Continue reading
Tax Tips

Quick Guide to Long-Term vs Short-Term Capital Gains Tax Rate for 2020

When it comes to your taxes, it’s important to understand the impact of long-term vs short-term capital gains tax. This distinction is key because the Internal Revenue Service taxes each type of income at different rates. Certain types of capital gains, such as those from the sale of stock or mutual funds you have had for […]

Continue reading

Should I File Taxes Quarterly or Yearly

As a business owner, it’s imperative you know whether you should pay your taxes quarterly or yearly. While individuals pay their federal income tax as they receive or earn income throughout the year, the process can look a little to a lot different for small businesses and individual contractors. This difference is due to the […]

Continue reading

Individual Tax Strategies

When it comes to taxes, most people take the most obvious tax deductions, pay their tax bill, and move on. However, what if there are individual tax strategies you could be utilizing to lower or eliminate your tax liability outright? At John F. Dennehy CPA, we are a team of experienced tax accounting professionals who specialize […]

Continue reading
Business Entities

What Are the Most Common Types of Business Entities?

If you’re looking to start a business, it behooves you to understand the most common types of business entities. Understanding and choosing the right type of business entity can help you achieve your short term and long term goals, such as: Keep your personal and business assets separate Establish and build business credit Enjoy the […]

Continue reading

How to Form an S Corporation in New York & Other FAQs?

Are you looking to learn how to form an S Corporation in New York? If so, the experts at John F. Dennehy CPA offer several decades of experience helping business owners make the most intelligible decision. We will work closely with you to help you understand all of your options, and we’ll provide tailored suggestions […]

Continue reading
Tax Return

How to File and Read a Tax Return Like a Seasoned Pro

Looking to learn how to read a tax return and tax forms like a pro? If so, you’ve come to the right place. We understand how preparing your individual tax returns can be a daunting, challenging and downright intimidating process. Execution of this mandatory financial undertaking requires a significant degree of focus, legwork, and comprehension.  The slightest […]

Continue reading
Bookkeeping Mistakes

Beware Don’t Make These Common Bookkeeping Mistakes

Common bookkeeping mistakes can easily drive business owners crazy! Similar to common tax mistakes for small businesses, bookkeeping mistakes can be expensive and have long-running implications. Instead of falling victim and dealing with the ramifications, the experienced accounting experts at John F. Dennehy CPA have you covered! We are a team of professional accounting specialists […]

Continue reading
Prepare for Next Year’s Taxes

4 Simple Tips to Prepare for Next Year’s Taxes

Savvy business owners understand tax season is a year-round event; and as soon as the tax deadline passes, they’re able to shift their focus more toward preparing for next year’s taxes. Failure to prepare for next year’s taxes early often results in you paying Uncle Sam way more than you should.  However, when you proactively […]

Continue reading
Common Tax Mistakes

5 Expensive Common Tax Mistakes for Small Businesses

While few businesses enjoy doing taxes, making common tax mistakes can turn an already painstaking process into a nightmare. In either case, your business is your livelihood, and you’ve worked tirelessly to put best practices in place to ensure your success. Because you wear so many hats each and every day, the chances of you […]

Continue reading
1 2 3 4