New And Improved
Welcome to our new website! We are excited to offer a new and improved web experience for our clients. Check out some of our new features below.
The Latest From Our Business Posts
Check out the latest collection of articles from our business section
Why an LLC might be the best choice of entity for your business
The business entity you choose can affect your taxes, your personal liability and other issues. A limited liability company (LLC) is somewhat of a hybrid entity in that it can be structured to resemble a [...]
Is your business required to report employee health coverage?
As you’re aware, certain employers are required to report information related to their employees’ health coverage. Does your business have to comply, and if so, what must be done? Basic rules Certain employers with 50 [...]
How to treat business website costs for tax purposes
These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on when website costs can be deducted. Fortunately, established rules that generally apply to the deductibility of business costs provide business [...]
Important considerations when engaging in a like-kind exchange
A business or individual might be able to dispose of appreciated real property without being taxed on the gain by exchanging it rather than selling it. You can defer tax on your gain through a [...]
The tax obligations if your business closes its doors
Sadly, many businesses have been forced to shut down recently due to the pandemic and the economy. If this is your situation, we can assist you, including taking care of the various tax responsibilities that [...]
Businesses will soon be able to deduct more under the standard mileage rate
Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The average nationwide price of a gallon of unleaded regular gas on June 17 was $5, [...]
The Latest From Our Individual Posts
Check out the latest collection of articles from our individuals section
Interested in an EV? How to qualify for a powerful tax credit
Sales and registrations of electric vehicles (EVs) have increased dramatically in the U.S. in 2022, according to several sources. However, while they’re still a small percentage of the cars on the road today, they’re increasing [...]
Five tax implications of divorce
Are you in the early stages of divorce? In addition to the tough personal issues that you’re dealing with, several tax concerns need to be addressed to ensure that taxes are kept to a minimum [...]
Estimated tax payments: Who owes them and when is the next one due?
If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments. This is the case if you receive interest, dividends, self-employment income, capital gains [...]
Your estate plan: Don’t forget about income tax planning
As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in estate [...]
Is it a good time for a Roth conversion?
The downturn in the stock market may have caused the value of your retirement account to decrease. But if you have a traditional IRA, this decline may provide a valuable opportunity: It may allow you [...]
Social Security benefits: Do you have to pay tax on them?
Some people who begin claiming Social Security benefits are surprised to find out they’re taxed by the federal government on the amounts they receive. If you’re wondering whether you’ll be taxed on your Social Security [...]
Welcome to Fullaway Lamphear & Sauve PLLC. Our Firm has been dedicated to superior client service and tax and accounting knowledge since 1978. In addition to providing you with a profile of our firm and the services we provide, this Website has been designed to become a helpful resource tool. Check back often for updated articles on recent tax legislation in our Newsletter section.
Small Business? Let us be your part-time CFO!
Small Businesses don’t always need or have the resources to hire a full-time CFO. We have staff available to help on an as-needed basis. Contact your tax professional by phone or check out our Contact Info link for our staff’s e-mail addresses. We look forward to working with you!
Need help with Quickbooks?
We have in-house QuickBooks Certified Pro Advisors to help train you to use their software packages or just answer a quick question.