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

Category Archives for Tax Tips

The Convenience of Employer Rule: Tax Implications of Working Remotely from Another State

Amid the global pandemic, the face and nature of work quickly evolved from in-office to a work-from-home, remote employment landscape. While the new arrangement offers a number of key benefits — including convenience — these benefits are coming at a tremendous cost. Remote workers in New York and the surrounding states may be subject to double […]

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Answering the Most Common Tax Questions for Businesses & Individuals

If you’re a business owner, you most likely have tax questions and tax concerns. Simply put, it makes dollars and sense to partner with an experienced tax professional for personalized guidance and advice.Whether it’s a question about your personal taxes, including earned income tax credit, child tax credit, or a question about your business taxes, […]

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The Top 5 Most Overlooked Small Business Tax Tips

Each year when tax income time rolls around, small business owners start looking for ways to maximize their deductions and minimize their tax liability. After all, nobody likes to pay taxes in excess —if they can avoid it. But if you wait until tax filing time to start preparing, it’s already too late for you to […]

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What Are the Benefits of Doing Taxes Quarterly?

As a self-employed professional or business owner, paying estimated taxes quarterly on your business income provides many benefits. When you earn money over the course of the year as a self-employed business owner, the government requires that you pay taxes, so that they can collect revenue from your earnings.One of the best ways to pay […]

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The Simple 5-Minute Cryptocurrency Tax Guide You Can Understand!

As if taxes weren’t already confusing enough, cryptocurrency trading adds a new, complex dimension. Fortunately, John F. Dennehy CPA has created a simple cryptocurrency tax guide you can actually understand. Let’s take a closer look at the crypto tax guide. And if you would like more personalized guidance and tax-saving strategy assistance, don’t hesitate to reach […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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