What Individuals Need to Do Before Tax Season Starts
Tax season is approaching. Here's your actionable checklist to get organized now, gather documents, and prepare for smooth filing.
John C Thompson, EA
Tag: Tax Planning
25 posts
What Business Owners Need to Do Before Tax Season Starts
Tax season is approaching. Here's your actionable checklist to get your business organized now and make tax filing smoother.
John C Thompson, EA
Should You Hire a Bookkeeper? 5 Signs It's Time
Wondering if you need a bookkeeper? Learn the 5 clear signs it's time to hire professional help. Get expert bookkeeping and tax prep from the same EA for seamless coordination.
John C Thompson, EA
Holiday Business Gifts, Parties, and Tax Implications: What's Actually Deductible
Holiday business spending rules for 2026: the $25 client gift limit, why employee holiday parties are 100% deductible, gift cards as wages, and bonus timing.
John C Thompson, EA
Married Filing Separately vs. Jointly: Making the Right Choice for Your Tax Situation
Should married couples file jointly or separately? Understand the tax implications, credit limitations, and strategic scenarios where filing separately saves money despite higher rates.
John C Thompson, EA
Property Taxes Explained: Why Your Tax Bill Changed and What It Means
Minnesota property tax notices are arriving. Learn how property taxes work, why they change, and what you can do about proposed levy increases.
John C Thompson, EA
Selling Your Home: Tax Treatment and Exclusions Explained
Learn how home sales are taxed and when you qualify for the $250K/$500K capital gains exclusion. Understand basis calculations, reporting requirements, and strategies to minimize taxes when selling your primary residence.
John C Thompson, EA
Charitable Giving Tax Benefits for Minnesota Donors: 2025-2026 Guide
Maximize your charitable giving tax benefits with Minnesota's unique non-itemizer deduction and new 2026 federal changes under OBBBA. Complete guide to strategic giving.
John C Thompson, EA
Tax Planning and Preparation: Your Year-Round Strategy Guide
Learn the difference between tax planning and preparation, and discover how year-round tax strategies can reduce your tax liability, maximize refunds, and eliminate filing season stress.
John C Thompson, EA
Understanding Tax Filing Status: A Complete Guide
Master tax filing status choices including Single, Married Filing Jointly, Head of Household, and more. Learn how your status affects tax brackets, deductions, and credits.
John C Thompson, EA
How Tax Brackets Work: Debunking Common Myths with 2025 Examples
Debunk the myth that earning more money puts you in a higher tax bracket and reduces take-home pay. Learn how progressive taxation actually works with real examples.
John C Thompson, EA
Tax Document Storage Made Simple: What to Keep, What to Toss, and Where to Store It
Organize your tax documents with the 3-7-Forever rule. Learn what to keep, how long to store records, and the best methods for physical and digital document management.
John C Thompson, EA