W-2s must be coming in! Time to get all your tax information together and come in to Balcom Consulting Services!—The tax season has begun! Come to Balcom Consulting Services! So we can help get you a great refund!
Tax Tips
The following tax tips address frequently visited topics. If you have questions you should feel free to call. You may qualify to file form 2106 if you have expenses for your job or business that are non reimbursable. Many taxpayers have this and do not even realize it. This is an itemized deduction.
If you have self–employed income from a schedule C or you were issued a form 1099. You should strongly consider making a SEP contribution rather than and IRA contribution, A SEP contribution (Simplified Employee Pension) is fully tax deductible and can usually be larger in amount than an IRA. Further, the SEP gives you other options an IRA does not If you are self-employed or have self –employed income, you may be eligible to deduct part of your health insurance premiums directly against your income .This could be a big tax saver.
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