Tag Archives: IRS

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

Are You Using the Right Business Structure?

The business structure you use – sole proprietor, LLC, etc. – has tremendous impact on how your company operates and pays taxes. A business structure is simply an organizational framework. The IRS requires you to select one for your company, … read more

What You Need to Know About Estimated Taxes

It’s not just self-employed individuals who are required by the IRS to pay estimated taxes. There are numerous advantages to being self-employed. The top benefit that most full-time, must-report-to-the-office employees envy the most is your ability to establish your own … read more

Hiring Your First Employee? 5 Tax-Related Steps

Be prepared for a mountain of paperwork, much of it related to income taxes. Adding your first employee to your small business comes with good and bad news. The good, of course, is that you’re succeeding so well that you … read more

Mileage Rate Changes for 2014

This article is reprinted from the IRS website.   IR-2013-95, Dec. 6, 2013 WASHINGTON — The Internal Revenue Service today issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, … read more

W-9’s and 1099’s

2013 is coming to a close, which means taxes will be due soon.  If you are a small business it is important to meet with your tax professional BEFORE the end of the year to review your current accounting methods, … read more

Avoid a Problematice Audit with Complete and Accurate Books

While Tax law does not require businesses to maintain books and records in any particular way.  It does require them to keep accurate and complete set of books.  Businesses are also required to keep supporting evidence for those records (i.e. … read more