When working with clients on tax preparation and tax planning, one of our focuses is to minimize the likelihood of an Internal Revenue Service (IRS) audit. It is surprising how many business owners do … [Read more...] about ANNUAL PHYSICAL INVENTORY REQUIREMENT
IRS Tax Planning Ideas, Tips & News
TAX PROBLEMS OF ACCIDENTAL AMERICANS
A tax attorney recently shared this story with us. It illustrates the complexity of the Internal Revenue Code and how ignorance of the tax laws can be devastating for someone who doesn’t use a tax … [Read more...] about TAX PROBLEMS OF ACCIDENTAL AMERICANS
PROFIT MOTIVE NEEDED TO DEDUCT TAX LOSSES
If you are using your tax professional only for tax preparation services, you are short-changing yourself. An experienced tax professional is an excellent resource for tax planning strategies. One … [Read more...] about PROFIT MOTIVE NEEDED TO DEDUCT TAX LOSSES
PROCRASTINATION – PROBLEMS ARISE WHEN FILING FORM 1040 LATER RATHER THAN SOONER
When working with clients on tax preparation and tax planning, we recommend that our clients file their individual tax return, Form 1040, as early as possible. The due date for filing Form 1040 is … [Read more...] about PROCRASTINATION – PROBLEMS ARISE WHEN FILING FORM 1040 LATER RATHER THAN SOONER
OBAMA & CONGRESS WANT TO CLOSE 3 RETIREMENT LOOPHOLES
Reuters has reported Click Here to Read Full Article that President Obama and Congress are looking to close 3 tax loopholes. The first loophole is one that we discussed in our March 7, 2012 Blog … [Read more...] about OBAMA & CONGRESS WANT TO CLOSE 3 RETIREMENT LOOPHOLES
DO YOU REALLY WANT THE IRS TO PREPARE YOUR TAX RETURN?
If you as a taxpayer fail to file a tax return, the Internal Revenue Code authorizes the Internal Revenue Service (IRS) to prepare a return for you. Now before you begin to jump in jubilation thinking … [Read more...] about DO YOU REALLY WANT THE IRS TO PREPARE YOUR TAX RETURN?
