Yes! What records you need for your business should be shaped by the needs of your business (not the IRS). If you need detailed records of inventory or customer receivables, then keep them. And […]
Yes. Very important! Financial reports provide you a way to know how your business is doing at a detailed level and the bookkeeping activity is what provides the detail for these financial reports. This […]
There are a lot of great apps and programs for tracking expenses/deductions. Here are a few we suggest. Mint.Com: This is a free online system that allows you to link your bank accounts to […]
As we approach the tax deadline, taxpayers are anxious to receive their tax refunds. Rumors about refunds often circulate online. The IRS dispelled five of these myths about tax refunds. We’ve summarized these myths […]
If you have a question you would like featured on the blog, email [email protected] If your private information has been stolen or compromised, you can request an Identity Protection PIN (IP PIN) from the […]
If you have a question you would like featured on the blog, email [email protected] Funds from any retirement account may be withdrawn early without a penalty if certain exceptions apply (like $10K for a […]
There’s an important, but subtle difference between a Pass-Through entity and a Disregarded entity. An entity that has been organized under the laws of its applicable state can elect to be “disregarded” for tax […]
If you have a question you would like featured on our TAX FAQ series, please email [email protected]. First, you should be aware that in 2018 the laws associated with dependents and related deductions changed […]
Below is a list of the approaching tax deadlines: S-Corporation and Partnership Returns are due on March 15, 2019. Extension allowed to September 16, 2019. C-Corporation returns are due on April 15, 2019. Extension […]
If you have a question you would like featured on our TAX FAQ series, please email [email protected]. A: If you owe federal tax, the IRS offers many easy ways to pay. Make sure you […]