How Long Should I Keep My Tax Records?
Some tax documents can go in the shredder after three or four years. Others you might want to hold onto forever.
View ArticleIgnore Tax Code Revisions At Your Own Peril
Tax law changes almost on a daily basis. As a self-employed individual you are required to keep up with those changes. It’s difficult to do, but not keeping up can be costly.
View ArticleGood Luck Resolving Issues with the IRS
This year especially, when budget cuts have resulted in poor customer service, resolving issues with the IRS can be stressful and take much longer than anticipated.
View ArticleIs Your Business Being Audited? What the IRS is Looking For
If you are self-employed your chances of being audited are three times higher than the average wage earning taxpayer.
View ArticleIRS Auctions Great for Bargains, Or Not
When the IRS seizes assets, it offers the property for auction. This property could consist of automobiles, art, jewelry, collectibles, real estate, business assets, and even notes and patents. But...
View ArticleEmployer Responsibility for Identity Theft and Taxes
A ruling recently released by the US Department of the Treasury now allows for identity protection measures called ‘Truncated Taxpayer Identification Numbers,’ also known as ‘SSN Masking,’ to be...
View ArticleSmall Business Guide to Deducting Charitable Donations
Businesses can make tax deductible donations to bona fide nonprofit organizations. But you may be surprised to learn how it is deducted on your tax return.
View ArticleS Corporations Cannot Always Write off Losses
Did you know that you can write off corporate losses only to the extent of basis in the corporation?
View ArticleFiling Taxes: There's an IRS2GO App for That
IRS2GO can help you keep track of your taxes.
View Article7 Tax Extenders That Affect You
The tax laws that expired at the end of 2013 benefited many taxpayers. Congress will now determine if they are worthy of revival. Here’s what you need to know.
View ArticleTaxes and Divorce, What You Need to Know
Call a lawyer and a tax professional if you’re going through a divorce.
View ArticleDivorce and Taxes Can Be Complicated
A good rule of thumb is that your marital status at the end of the year determines your filing status.
View ArticleShould You File Your Own Tax Return?
Beware. Unless you understand the highly complex U.S. tax code, you may miss valuable deductions or send up a red flag for audit.
View ArticleWhat ACA Has in Store for Entrepreneurs in 2015
2015 is sneaking up on us rapidly, and it’s important to know what your business must do when it comes to ObamaCare's employer mandate.
View ArticleBuy American, Watch Your Taxes Go Down
Former Cheers star John Ratzenberger encourages American shoppers to ask where the “made in America” section is. “And if they don’t have one,” he says, “walk out!”
View Article10 Year-End Tax Strategies
Congress’s habit of waiting until the last minute to vote on important tax legislation leaves very little wiggle room for tax planning.
View Article5 New Year's Resolutions to Save on Taxes
By keeping track of tax documentation during the year, you cut down on the stress of preparing your data for the following year.
View ArticleGetting Organized for Tax Preparation
If you provide your tax pro with well-organized, complete, and totaled data, your fee may be lower.
View ArticlePayroll Automation Begets Complacency
Accounting for business income and expenses has become streamlined.
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