April 6, 2018

The filing deadline to submit 2017 tax returns is Tuesday, April 17, 2018, rather than the traditional April 15 date. In 2018, April 15 falls on a Sunday, and this would usually move the filing deadline to the following Monday – April 16. However, Emancipation Day – a...

July 1, 2015

How would you like to legally deduct every dime you spend on vacation this year? This financial guide offers strategies that help you do just that.


Tim, who owns his own business, decided he wanted to take a two-week trip around the US. So he did--and was able to legal...

June 2, 2015

Several test are involved when determining if an individual is a Real Estate Professional for tax purposes, however, we have provided the basic test in determining if you may qualify. Consult with Wise Tax Services prior to making the election as a Real Estate Professi...

May 3, 2015

.....Here are some tips to help you keep your tax return on track, now that you’ve filed for a tax extension:


Do as much as you can on your return

If you haven’t already, prepare as much of your return as you can now.

If you’re waiting for information from someone else,...

April 2, 2015

 Can you deduct your moving expenses? Yes, but first you must meet 3 requirements.


1.  Your move is closely related to the start of your work


2.  You meet the distance test (follow the image above to determine if you pass)


3. You meet the time test as shown below:


March 2, 2015

Determining whether you can take a deduction should be easy. Follow this easy flow chart to determine if you qualify to deduct expenses from Business Use of Your Home.

February 2, 2015

 One of the biggest misconceptions is determining what mileage is deductible. Use this easy to follow mileage flowchart to determine if the mileage you have is deductible.


January 2, 2015

Step 1: Gather your documents

  • W-2s for each job held in 2014 for each person in the household, this form reports your name, wages, and other tax information to the IRS.

  • 1099s showing other income (unemployment, social security, school loans, health care reimbur...

December 2, 2014



2014 has been a prosperous year for taxpayers who own stock and mutual funds outside of their retirement accounts. But come April 2015, you’ll probably have to share some of your bull-market bounty with the IRS.

Smart tax planning now can help you reduce the taxes you...

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