The Internal Revenue Service has issued another warning to taxpayers and tax professionals to be on the alert for fake emails claiming to contain IRS tax bills related to the Affordable Care Act. In the email scammers are attaching fraudulent versions of the CP2000 tax notice for the year 2015 requesting payments be made by […]
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Starting January 1st, 2016 the IRS is introducing new rules in regards to how repairs and maintenance expenses are deducted on your business tax return. Below is an explanation of the biggest changes and how they might impact you and your business’s tax return. The Big Changes 1. With the rules come new ways […]
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Attention Tax Payers ! It has been brought to our attention by some of our clients that there is a telephone scam currently going around. In the phone call an automated message is saying that the tax payer is being sued by the Internal Revenue Service and that a warrant will be issued for their […]
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What is Bookkeeping? Bookkeeping is a necessary tool for any business owner that wants to be successful in the long run. This is because accurate bookkeeping does much more than generate the financial statements needed to prepare your tax return. Maintaining your books throughout the year can help you in other areas such as inventory […]
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Welcome Back! It is almost February so you know what that means…..that’s right tax season has started and is in full swing! As with every year, we are here at the ready waiting to service all of your tax needs. Whether that means taking care of your personal taxes, your business taxes, or everything else […]
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There are two types of payroll taxes. The first are taxes that employers are required to withhold from employees’ wages. These withholdings are often advance payments of federal and state income taxes, social security contributions, and other various insurance payments. The second kind of payroll taxes are paid from the employers own funds and are […]
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In simple terms bookkeeping is the recording of financial transactions. These transactions usually include sales, purchases, and payments made by a person or an organization. It is often misunderstood that bookkeeping and accounting are the same. Bookkeeping is done by a bookkeeper, not an accountant, although many accounting offices offer these services. While bookkeeping is […]
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Getting Ready For The 2011 Tax Season
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In order to help you organize all of the required documents for filing your taxes this season, these are the most common documents we will need you to gather. A backup copy of your accounting software (Quickbooks, Peachtree, etc.) Year end bank statements (for all bank accounts) Year end reconciliation (for all bank accounts) Copy […]
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