Think you know what income tax bracket you fall into? Think again! President Trump signed a new tax plan into law in December 2017, which has effectively changed the federal income tax brackets for the 2018 tax year. Here is everything that you need to know:

Let’s face it – nobody likes paying income tax. If only there was a way to reduce the amount you were paying each year. The good news is that there is! Below, we provide you with a few handy tips on how income tax can be saved without very much effort required on your part.

tax

With the new income tax law, filing your taxes may have changed slightly. If your annual income is below a certain threshold, you may not have to file your taxes. However, in order to claim a refundable tax credit or a refund on income tax, you are going to need to file a tax return. In this regard, Georgen Scarborough Associates, PC is here to help you.

tax deduction

With the tax season in full swing, filing your tax return should be at the top of your agenda. While this may seem like a daunting prospect, Georgen Scarborough Associates, PC is here to help. With our extensive knowledge in tax, we hope to shed some light on some of the more complex aspects of filing your tax return. In this case, the difference between standard and itemized deductions as well as when to file which.

interim report with calculator

Time flies when you’re busy running a business. But it’s important to occasionally pause and assess interim performance — otherwise you’re likely to be surprised by the year-end results. When reviewing midyear financial reports, however, recognize their potential shortcomings. These reports might not be as reliable as year-end financials, unless a CPA prepares them or performs agreed-upon procedures on specific accounts.

Working with GSA’s bookkeeping services has allowed us to closely monitor the financial health of our company without hiring a full time resource. GSA took the time to learn our business processes and how we manage our projects. I would highly recommend them!

Lenny Berger
Chief Mensch
The Handy Mensch

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Georgen Scarborough Associates, PC
243 Church Street NW, Suite 100E
Vienna, VA, 22180
(703) 319-3990