Depreciating Rental and Commercial Properties

When you own rental property, depreciation is your best friend. One reason depreciation is so valuable is that, unlike deductible rental property expenses such as interest and maintenance, you get to claim depreciation year after year without having to pay anything beyond your original investment in the property.

Tips for How to Structure Your Business Entity

A business entity is an organization created by an individual or individuals to conduct business, engage in a trade, or partake in similar activities. A business’s entity type dictates both the structure and how that business is taxed. Here at Havig Tax &...

The Deductions Small Business Owners Often Miss

Your life as a small business owner is busy. Are you sure you’re getting all the credits and deductions that you’re entitled to? Here are a few examples of the deductions that small business owners often miss: Annual Meeting Expense (if your business is an...

Tax Filing Extension Deadline is Approaching

Those who filed an extension for their personal tax returns have until 10/17/2022 to file their 2021 tax return.  No need to wait until the last minute! Filing before the extension deadline can avoid a major headache in trying to squeak in before the last bell, will...

What’s an S Corporation, anyways?

The deadline for S Corporations to file (if you filed a six month extension back in March) is September 15th, 2022. But don’t worry, that is plenty of time to get your S Corporation tax return done! Electing to have your small business file as an S Corp is one...