Tag: tax preparation

Tax season is a prime time for IRS scams, with fraudsters targeting unsuspecting taxpayers. These scams can take various forms, including fake IRS emails, phone calls, and letters. Last year, a significant number of identity theft complaints were reported to the IRS, highlighting the growing threat. Scammers exploit personal information to file fraudulent tax returns and claim refunds. As a taxpayer, it’s crucial to recognize the signs of these scams and take proactive steps to protect your personal and financial information. Let’s take a look at how to identify IRS scams and what you can d…

Did you land your first job last year? Congratulations! While a new job is a major milestone, for both your life and your career, it leads to another one – filing taxes. Do you know how to file taxes for the first time? It sounds like a lot, we know. But as CPAs, we’re here to guide you through it, making it straightforward and stress-free. We’ve been in your shoes, facing those forms and tax rules for the first time. It seemed like a lot back then. But over the years, we’ve mastered the process, and now, we’re excited to share our insights with you. Our goal is to explain the tax system in…

Navigating the complexities of small business tax deductions can be a daunting task for business owners. Understanding how to effectively utilize each small business tax deduction available is crucial for minimizing tax liabilities and maximizing profitability. Lucia & Co. CPAs is dedicated to guiding businesses through the intricate pathways of tax deductions, ensuring that every possible avenue for tax savings is thoroughly explored and utilized. What is a Tax Deduction? A tax deduction is a critical aspect of the taxation system, allowing businesses to subtract certain expenses from …

Managing financial records is crucial for any company, no matter the size. You may think a CPA (Certified Public Accountant) isn’t necessary, but keeping accurate financial records is essential for success. Fortunately, there’s a solution tailored for small businesses. Lucia & Co. provides small business QuickBooks training, designed to help you manage finances and various other operational aspects with ease. We understand the importance of financial management. That’s why we strongly advocate for and offer QuickBooks training tailored for small businesses. What is QuickBooks? QuickBoo…