January 23, 2020

As you know, Tax Season is just about here and January is almost over. 
 

Rushing Tax forms out in the last minute is never a good idea, especially if you don't understand the complicated tax rules and regulations that could cost you thousands of dollars if you make mis...

December 1, 2019

Recently, a business owner asked, “Why do I need tax planning? What strategies can I implement to reduce taxes? Since you do my taxes, won’t tax planning be part of your scope?” Majority of business owners who utilized the services of CPAs to prepare and file taxes bel...

November 28, 2019

Running a practice is not easy. Some days I felt discouraged when things did not turn out to be how it was supposed to be. However, over the years, I have learnt to press on, and continue to help the clients who are in need of our services. To all XQCPA clients, you ar...

November 23, 2019

Time is running out. You have worked very hard for your business. Imagine you now have less than a month before the year ends and your business is profitable. You know that you will have a tax balance and you are worried about how much is your tax bill. You obviously d...

June 3, 2019

Recently, a new client reached out to me for help on preparing his 1040. He has been using TurboTax and wants to pay less taxes. When I took a look at his personal tax return, I noticed a severe error. He was claiming the child and dependent care tax credit without pro...

January 16, 2019

For many of us, the days leading up to April 15 can be overwhelming on our calendar. To avoid this frustration, you need prepare ahead with the right information and knowledge. This video highlights important information that you will need to keep in mind when preparin...

January 29, 2018

Dear Clients and Friends,

If you hire independent contractors and have paid your contractors $600 or more during 2017, it is important that you file 1099 for each of these contractors. Prior to issuance of 1099s to contractors and submission to IRS, you will need to obt...

January 9, 2018

To ALL our clients and friends,

For those of you who want to get your taxes done as early as possible, we have some great news for you! The IRS will begin accepting tax returns on Monday, January 29. As the tax season is quickly approaching, we understand that it can...

January 2, 2018

To ALL our clients and friends,
 
If you wonder how the new tax bill will affect your tax and financial positions going forward, it is official! On Friday, Dec 22, President Donald Trump signed the bill at 11am before leaving for his Christmas break. The Tax Cuts and J...

November 14, 2017

You have worked hard in 2017 and time flies… It’s already November and there’s only less than 50 days left before the year ends. Have you taken all the business deductions you need to lower your taxes this year?

If not, the good news is it is not too late! In this artic...

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