Havig Tax & Consulting Blog
Why It’s Important to Start Tax Planning Early in the Year
The IRS received about 73 million phone calls during the 2022 filing season, with just one in 10 calls reaching a Service employee. The IRS had a backlog of 21.3 million unprocessed paper tax returns, an increase of 1.3 million over the same time last year. The U.S....
What are your goals, and how can we help you reach them?
Every small business owner has different goals, and we'd like to help you reach them. What are your business goals? Expand and grow to the moon? Take your company public someday? Pass it down to your children? No matter how big or how small, there are solutions for...
Are you happy with your tax bill?
Be honest: are you happy with your tax bill? Most of you will say "NO!" Luckily, there are several strategies small business owners can utilize to legally minimize their tax bill before the end of the year. Tax planning involves structuring your business, finances,...
Here’s How to Reduce Your Self-Employment Taxes
Wondering how to reduce those self-employment taxes? Here's how! When you're self-employed, you don't have taxes withheld from your pay like an employee does. You also don't have an employer to pay their portion of the FICA taxes, meaning you have to pay it...
Auto Related Expenses for Small Business Owners
You know what they say: More Miles, More Money! Ok, maybe only tax pro's say that. If you use your vehicle for work (and you're self-employed) then you'll be able to deduct your auto-related expenses. Mileage is a big deduction. Even if it doesn't seem...
Does the IRS owe YOU money?
Does the IRS owe you money? During much of 2020 and 2021, you may have qualified for the Employee Retention Credit (ERTC). Lawmakers created this tax credit in response to the COVID-19 pandemic. With the ERTC, you found (or could find) tax credits of up...
Top Three Small Business Tax Tips
Here at Havig Tax & Consulting, we focus on helping small business owners and self-employed individuals save money on taxes. When we meet with clients, sometimes they ask what our favorite tax tips are? And we have a lot! But here are just a few to get you...
Tax Planning for Beginners
Tax planning goes beyond just tax prep, it optimizes your life and business so you can pay less in taxes! As you begin to tax plan, you need to first have a grasp on two basic terms: Tax deductions: These are what you can subtract from your taxable...
Lining up a Tax Pro for the New Year
If you're ready to switch to another tax professional, now's the time. You don't have to wait until tax time to switch to a new tax preparer, bookkeeper, or accountant. In fact, a lot of firms may stop accepting new clients shortly after the first of the year....
Happy Holidays from Havig Tax & Consulting
We want to wish all of our clients, colleagues, referral partners, and friends a happy holidays! Our firm will be closed the week between Christmas and New Years to spend time with our families, but we'll be back after that ready to tackle your taxes.
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Anoka, Minnesota 55303
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