Taxpayers who claim the Earned Income Tax Credit or the Additional Child Tax Credit may experience a refund hold. According to the Protecting Americans from Tax Hikes (PATH) Act, the IRS cannot issue these refunds before mid-February. The IRS...
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The answer is NEITHER! Why don’t you want a giant refund? Because that means the government has had your money all year, you haven’t, and they have not paid you any interest! And, no, you don’t want to pay taxes for obvious reasons. So, that...
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By: Mark J. Kohler Over the past few years there have been a number of changes and updates regarding the reporting rules for the mysterious 1099-Misc Forms. I say “mysterious” because many business owners simply guess as to what the rules...
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The Auto, SUV & Truck Deduction: Mileage or Actual? The law has changed in 2018 – Big time!! Things got a lot better for business owners with cars/autos…if not AT THE LEAST you have a lot more options. You can actually write-off a...
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Scammers Portray IRS in Latest Phishing Scam Earlier this week, the IRS issued a warning to tax payers regarding a fraudulent email that has been impersonating the agency. The email includes tax transcripts, in an attempt to get the users to...
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How will the new tax law effect you? One of the biggest changes is lowering the tax rate. It should help most folks…but not by much! So don’t get excited. For example, the top rate dropped from 39.6% to 37%. Not bad! Every little...
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Nothing fuels a bottom line better than a revenue stream that’s solid and growing. But to hang onto existing customers, you need to inspire their loyalty. Consumers are always on the lookout for better value. And research suggests that...
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A bookkeeper is someone that is responsible for processing the records of various transactions that occur for a business. The transactions that are recorded are done within a company’s general ledger. This typically involves the use of some sort...
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How long should I keep my business records? This is quite a common question among business owners. The time of retention for different types of documents may largely differ depending on which event, action or expense a particular document...
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Fall is officially here. We are nearly six months away from the personal tax submission deadline in April, which means taxes are the last thing on most people’s minds right now. However, now is actually the best time to start getting ready for...
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