by | Jul 4, 2016 | Accounting & Bookkeeping, Income Taxes, Personal financial planning, Small Business Owners, Surviving an IRS Audit Series
No one likes to get a letter from the IRS stating that you are being audited. The good news is that there are less than 1% of all people that file income taxes making less than $200,000 that will ever get one of these letters on any given tax year. However, if you...
by | Jun 14, 2016 | Accounting & Bookkeeping, Income Taxes, Small Business Owners
It is always a bit of a challenge with everything going on in your life to keep tax planning in your thoughts throughout the year. The good news is that if you work with an accountant he or she will typically send you newsletters or emails that will help you remember...
by | Jun 13, 2016 | Accounting & Bookkeeping, Income Taxes, Personal financial planning, Small Business Owners, Tax Tip of The Week
It seems that many people think that having an accountant is something that is only necessary if you have your own business, a large investment portfolio or if you are one of the very wealthy. In fact, having an accountant that does your taxes on a yearly basis is...
by | May 25, 2016 | Accounting & Bookkeeping, Cost Cutting, Income Taxes, Small Business Owners
Every year millions of taxpayers overpay their income taxes because they didn’t take deductions they were legally allowed to claim. Here is a list of the most commonly missed tax deductions. Use it as a checklist to ensure you pay the lowest tax...
by | May 16, 2016 | Accounting & Bookkeeping, Income Taxes, Small Business Owners
Those who are self-employed are known as Independent Contractors. They may act as a consultant or a virtual staff member for a company or corporation. Meaning they do work on behalf of the company but aren’t considered an “employee” as far as benefits go – this means...
by | Apr 25, 2016 | Accounting & Bookkeeping, Income Taxes, Small Business Owners, Tax Tip of The Week
When tax time rolls around, many tax payers have a difficult time determining if the deductions they think they are entitled to are really business deductions or just hobby expenses. The Internal Revenue Service has a very definitive answer to help determine...
