Category Archives: Be Tax Wise

Getting Ready for Year end – October/November

If you haven’t noticed 2017 is looming very near! Stay tuned and I will give you some reminders & tips to get to the end a little bit smoother this year. One this that is really important this year is that you … read more

Are You Saving for Your Retirement?

You didn’t get in to business to work 24/7 and then just walk away broke right?  Yes its expensive to be a sole proprietor but that doesn’t mean you should neglect saving for your retirement. The IRS offers a handful … read more

If You Have Filed Your Taxes, Good Job!! If You Haven’t, Here are Some Last Minute Tips!

Are You Claiming All of Your Tax-Deductible Business Expenses for 2015? Haven’t completed your 2015 taxes yet? You’re cutting it close. Don’t short-change yourself on business expenses, though. If you’ve been in business for several years, you have a pretty … read more

Did You Get a Letter From The IRS?

Why You Might Get a Letter from the IRS, and What to Do Don’t panic: It isn’t necessarily bad news. But you may need to deal with it. Getting a letter actually addressed to you personally is becoming a thing … read more

All About Tax Returns

All About Past Due Tax Returns Taxpayers neglect to file returns for countless reasons. If you’re one of them, here’s what you need to know. Believe it or not, there are individuals who don’t file tax returns even though they’re … read more

Mileage Rate Changes for 2016

The IRS has adjusted the mileage rate for 2016. Beginning on Jan. 1, 2016, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 54 cents per mile for business miles driven, … read more

Do You Need to File Form 1099s?

There are a number of situations where you’ll have to create and/or file Form 1099s. Are you affected? If you’ve been sending Form 1099s for years, you’re probably already working on them or have completed them. If you receive them … read more

Notes on Filing an Amended Tax Return

Oops!  Did you determine that you made an error on an income tax return that you already filed?  It’s not unusual.  That’s why the IRS has a special form that will fix it. Maybe a 1099 that you had forgotten … read more

Should You Claim the Home Office Deduction?

It can reduce your income tax obligation, but be sure you understand the IRS’s rules. One of the many ways the internet has changed business over the last two decades is the increasing numbers of part-time entrepreneurs.  Simple do-it-yourself website … read more

How to Avoid — and Deal with — Tax Identity Theft

Even if you guard that critical 9-digit number carefully, you can still have a fraudulent tax return filed using it. Your first thoughts when you become the victim of a tax identity thief might go along the lines of: Did … read more