Good Guys Tax and Bookkeeping LLC

12/30/2024

We have a a few spots open for 2024 tax return preparation. If you wish to secure a spot on my calendar, please send a DM.

Thank you!!

Send a message to learn more

02/12/2024

Incomplete records lose vehicle expense and
depreciation deductions.

The case: P had several businesses as
proprietorships, for which he took expense
deductions for his car and truck. He also took
depreciation deductions for both as well as for other
assets. The IRS denied a number of deductions, so P
went to court.

Held: For the IRS. In the records supporting the
deductions, the court said the estimated miles
driven were not contemporaneous with the
expenditures and did not include the date and
business purpose of miles driven. So, the records
did not meet the minimum standard to support
vehicle deductions.

Likewise, the records to support depreciation
deductions for different assets were incomplete,
often not specific enough to identify the asset
depreciated, and did not establish that the
property was used specifically for business and not
nonbusiness purposes. The records also failed to
establish the property’s depreciable basis, recovery
period (number of years of depreciation allowed),
and previously taken depreciation. Because he did
not prove any of these elements, no depreciation
deductions were allowed. [Polete v. Commissioner, T.C.
Summ. Op. 2023-25]

12/11/2023

Thinking about 2024? Make it better for your long-term financial health ;)

CREATE A BUDGET

If you don’t already have one, creating a budget for 2024 is a wise financial move. It’s crucial to know where your money is going every month, where you can tighten up, and/or where you can save. If you already have a budget, now is the perfect time to review it and see if you need to make any changes.

11/01/2023

Did you know a tax return is considered filed only when it is delivered to the IRS. When mailed, it is considered delivered to the IRS on the date it was mailed—but ONLY if it was sent by certified or registered mail or by one of the IRS-identified private delivery services.

01/14/2022

I am still working with tax clients that engaged us in 2021. You do not have to go elsewhere.

If you landed here looking for a new tax preparer I can refer you to another firm in the area.

10/18/2021

The Internal Revenue Service is continuing to focus on self employed businesses aka Schedule C filers.

Are you prepared with receipts for all expenses, vehicle mileage logs, checking (personal & business) and credit card statements for ALL business expenses and more?

If not, you need to get ready - you're more likely to get audited by the IRS than win the lottery.

Talk to us today and see how we can help you.

10/02/2021

Is your business an S Corporation?

We can provide you a report to prove your salary is "fair and reasonable". The IRS will be watching your tax returns more closely. Let us help you.

The Internal Revenue Service has stepped up efforts to collect employment taxes from S corporation officers, but business owners are still getting away with avoiding billions of dollars in taxes.

08/26/2021

You can take shortcuts, cheat and do it your own way when it comes to employee hiring and payroll related issues but it will catch up to you!

The investigation began with a Kansas Department of Labor inquiry about employment practices at Bravos Mexican Grill, an Overland Park restaurant.

04/09/2021

We are changing our service level to focus more on bookkeeping service.

If we interview you and find we're not a match for tax work we can refer you to a firm with CPA's, Enrolled Agents and other tax professionals able to handle any situation.

Thank you to our clients for continuing to refer us!!

03/08/2021

Limited availability for the rest of this tax season.

01/15/2021

Don't wait to get your information to us due this.

We prepare and submit your file which is held an a batch file until processing begins.

Timeframes for refunds will be normal with the filing date of Feb 12, 2021 or the actual e-filing date, whichever is later.

IRS Notice: "WASHINGTON ― The Internal Revenue Service announced that the nation's tax season will start on Friday, Feb. 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns.

The Feb. 12 start date for individual tax return filers allows the IRS time to do additional programming and testing of IRS systems following the Dec. 27 tax law changes that provided a second round of Economic Impact Payments and other benefits....."