Spring is here, and with it comes the idea of new beginnings. This is the time of year when temperatures warm up and we look forward to our summer vacations. It is also the time when we do our spring-cleaning;
According to the Joint Congressional Committee on Taxation, the average U.S. taxpayer pays 10.1% in income taxes. Many at the bottom pay little or no income tax at all, and some even receive more back in credits than they pay
During tax season, one of the biggest worries taxpayers have is being audited. The idea of having your return singled out for extra scrutiny strikes fear into many. As an accounting firm, our job is not to help our clients
This month, millions of Americans will be getting tax refunds back from the IRS. Some will receive a few hundred dollars while others may get several thousand. For many taxpayers, their refund is the largest lump sum they will receive
Many taxpayers that fall into the lower income brackets are not required to file a return. For the 2014 tax year, a single person under age 65 with an income of $10,150 or less is not required to file, and
On July 1 2014, the Foreign Account Tax Compliance Act of 2010 (FATCA) was fully implemented. This act requires foreign financial institutions to report to the IRS the name, address, taxpayer identification number, account number, year-end account balance, and any
Keeping accurate records is critical for small businesses for a number of reasons. First of all, when you have a complete picture of how much money is coming in, how much is being spent and what it is being spent
Entering retirement is a completely new phase of life not only in terms of career and possibly in terms of your living situation, but financially as well. Employer income typically replaced with Social Security and combined with either a pension
Filing taxes for self-employed entrepreneurs and small businesses can be quite complicated. In addition, tax liabilities can vary widely depending on the accuracy of your record keeping and which deductions you take. Since small business people are required to pay
Bitcoin and other digital currencies have increased in popularity in recent years. The number of people holding Bitcoin is now in the millions, and many online retailers, such as Dell, Microsoft, and Overstock.com are now accepting the currency as payment
