Internal Revenue Service

Taxes for Military Personnel

With Veterans Day approaching, we wanted to dedicate this month’s blog post to our military men and women. We salute and honor you this month and thank you for your sacrifice. Whether it be sacrificing time with your family, or putting yourself at risk, BASC Expertise wants you to know that we are thankful for […]

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Six Overlooked Tax Breaks for Individuals

Confused about which credits and deductions you can claim on your 2016 tax return? You’re not alone. Here are six tax breaks that you won’t want to overlook. 1. State Sales and Income Taxes Thanks to the PATH ACT of 2015, taxpayers filing their 2016 returns can deduct either state income tax paid or state

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Self Employed Individuals Must Track Business Expenses

Self-employed individuals enjoy unique benefits, but they also have the burden of proving to the Internal Revenue Service that the expenses claimed are legitimate. Business owners need to keep proof of the expenses as well as a business record that backs up the need for that particular expense. Your accounting professional will also tell you

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Year-End Financial Wrap Up Plans For Business Owners

Taking the time to have your paperwork in order will not only make your accountant’s job simpler, it allows you to track items throughout the year. Entrepreneurs need to be cognizant of the need for precise record keeping, especially if they find the need to seek financing.

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Small Business Owner Start-Up And Business Plan Preparation Steps

Taking the time to thoroughly explore and answer these questions may just get your business off on the right foot and will certainly provide you the information necessary to compile a business plan and strategy.

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Seven Online Safety Shopping Tips For Holidays And Year-Round

Sitting in traffic, wading through crowds, and choosing the perfect gift from the selections in the local shopping mall, lead many holiday shoppers to turn to the Internet for holiday and gift shopping. Many e-retailers offer free shipping, discounts, and loyalty reward pricing to lure shoppers to the sites. Online shopping can save time and

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Gift Giving In The Workplace: Hints and Tips

The holidays are fast approaching and as an employer you may be wondering, “What is an appropriate gift for my employee?”  “How much should I spend?”  “Do I spend more on my personal assistant than I do for the line worker?” or “Are the gifts tax deductible?” To make the gift-giving season less stressful, here

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Protect Yourself From IRS Fines: Independent Contractor Versus Employee Differentiations

It is estimated that there are more than eight million individuals claiming the independent contractor status for tax filing and of those, close to 90% are not paying the correct amount of taxes according to the IRS.

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What Financial Records Should You Keep And For How Long?

With the week of September 17 having been designated as “National Love Your Files Week” we wanted to pass along information on which files/records to love and keep and for how long. As accountants we understand the need to not only properly keep and store records, but the need to get rid of paperwork that

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Grow Your Business with These Marketing Tips

While there are marketing ideas that will work for most businesses, there is no one-size-fits-all approach to promoting your business. It may be a trial and error process to find where your marketing time and dollars are best spent. Make certain though, that for every marketing plan you undertake that you track the results.

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