OCEANSIDE — Small business owners with tax filing questions are invited to attend monthly lunchtime Tax Talks at MainStreet Oceanside.
H&R Block tax specialists will provide lunch and answer tax questions as part of the company’s community outreach efforts.
Sherry Weishaar, enrolled agent and H&R Block office manager, said the talks are open question and answer sessions.
Business owners are encouraged to come with questions, and last year’s tax forms.
One of the biggest changes for business owners this year is reporting requirements for the Affordable Care Act. Companies with 100 or more employees must show they provide health insurance.
Next year businesses with 50 or more workers will need to provide proof of health insurance.
“Eventually it will be every company,” Weishaar said. “It’s not beyond 50 (or more employees) at this point.”
There are also changes in allowable deductions. Weishaar said these fluctuate from year to year.
“My advice is always save everything,” Weishaar said. “You don’t know if it’s going to be deductible until you get to tax time.”
One deductible business owners need to know the rules about is credit card interest. Weishaar said credit cards must be designated solely for business purchases for interest to be deductible, no percent of purchase interest is allowed.
There are also rules about how much of cell phone costs can be deducted.
Another piece of advise Weishaar shared is get a second opinion on your taxes.
“Just like you would ask a doctor for a second opinion,” Weishaar said. “We (H&R Block) do that for free.”
For those who attend the talks and have additional questions, a one-on-one consultation can be arranged.
Tax Talks will be held at MainStreet Oceanside, 701 Mission Avenue, from noon to 1 p.m. on Jan. 13, Feb. 10, March 9, and April 13.
This year’s tax filing deadline is April 18.
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