As we approach spring, most of us are focused on filing our 2014 taxes. However, it is never too early to start planning for next year. For example, if you are an employee, you may have a better idea of how much money to withhold so you can avoid being stuck with a tax bill […]
Important Tax Law Changes for 2015 Read More »
January is the start of tax filing season, and for small businesses, this means sending out their W2s and 1099s and getting all their paperwork and receipts together to send over to their accountant. There is another issue for entrepreneurs to consider at the beginning of each year; which entity structure is best for tax
LLC vs S Corp: Which Tax Filing is best for your Small Business? Read More »
Tax filing season is already here. And for individuals, this means that their returns are due by April 15. For businesses, however, certain deadlines are approaching much faster. For example, anyone with employees must send out a W2 (to each employee) by January 31. However, do not forget your contract workers; that is, people who
1099 Tax Filing Requirements for Contract Workers Read More »
Each year we deal with the hustle and bustle of the holiday season and we often fail to realize that there are tax-planning moves we can (and should) be making to minimize our tax burden for the year. While it is true that your taxes are not due until April, the amount you will pay
4 Year End Tax Moves for Individuals Read More »
The economy in recent years has led to many Americans accumulating high amounts of debts. Inevitably, when someone is underwater with credit cards or home mortgages, they often get behind on taxes as well. This is especially prevalent with small businesses; owners often miss quarterly tax payments or fail to meet payroll. What many fail
How to Resolve IRS Tax Debts Read More »
In addition to being the month when we celebrate our nation’s independence, July is also National Anti-Boredom Month. Occurring in mid-summer, July is that ‘in-between’ month when most graduation celebrations are completed and it is a little too early to be thinking about your kids going back to school. Many suggestions are made each year
Overcome Boredom by Organizing your Paperwork Read More »
Working at home is a new experience for many, and in today’s economy, it is becoming more common. If you work from home as an independent contractor (freelancer), you are responsible to take care of your own tax withholdings and keep track of expenses you are able to deduct. Though there are many advantages to
How to Track Expenses for Work at Home Individuals Read More »
There are times when a business decides that moving offices is beneficial for the growth of the business and/or for budgetary reasons. Changing locations can be an exciting time for a growing company, but it can also get expensive. Thankfully, the IRS has several allowable deductions you can take advantage of when you move. What
What Office Moving Expenses Can Be Deducted? Read More »
We have all heard the horror stories of those that have faced an audit from the IRS. Having the most powerful financial agency in the world question the accuracy of your tax return is definitely quite scary. Perhaps the most stressful aspect of an IRS audit is the uncertainty of not knowing what to expect
What Happens During an IRS Audit? Read More »
Being audited by the Internal Revenue Service is something many taxpayers fear; even if your return is entirely above board, an honest mistake here or there can turn an audit into a tax nightmare. So when it comes to filing your income taxes, the best strategy is to do everything possible to avoid IRS red
How to Avoid an IRS Audit Read More »
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