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A Year-End Accounting Checklist for your Business
With year’s end fast approaching, now is the time to get a handle on your business finances by creating a year-end accounting checklist. This will ensure that your financial records…
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4 Tax-Saving Strategies You Can Implement This Year
If you’ve done your own taxes or hired an accountant, you’ll no doubt be familiar with the term itemized deductions. The strategy involves using specific expenses that can be subtracted…
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Tax Changes in 2024 That You Should Know About
While the 2023 tax filing season is underway, we believe that it’s prudent to know about the tax changes in 2024 that have already been implemented. At Tuffy & Associates,…
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Filing Your Tax Return: How to Make it Go Smoothly
The IRS officially kicked off the 2024 tax season in late January by announcing that it is expanding the filing options for taxpayers. At Tuffy & Associates, we are here…
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6 Year-End Financial Strategies You Need to Consider
As the year draws to a close, here at Tuffy & Associates we are thinking about all the ways that our clients can save money. With that in mind, here…
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Buying or Leasing Your Vehicle: The Tax Implications of Both
If you are trying to decide between buying or leasing your vehicle, you might be wondering, which option is best and what provides the most tax savings? The Difference between…
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Employing Your Spouse: 5 Things to Keep in Mind
If you have your own business, one of the smartest tax moves you can make is to hire your spouse to work as your employee. Here are 5 things you…
Health Savings Accounts: What You Need to Know
Most people have heard of flexible spending accounts that are typically used to pay for healthcare costs like deductibles, copayments, coinsurance, and some drugs, but have you heard about Health…
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Helping Our Clients Streamline Payroll, Benefits and More
As a business owner, you are no doubt aware of the complexities of handling payroll, HR issues and other matters as you expand and employ additional workers. At Tuffy &…
The Employee Retention Credit: Does Your Business Qualify?
There is a lot of talk these days about the Employee Retention Credit, originally established by Congress as part of The Coronavirus Aid, Relief, and Economic Security (CARES) Act to…