Helpful Links

Tax Tips if You’re Starting a Business

Tax Tips if You’re Starting a Business

If you plan to start a new business, or you’ve just opened your doors, it is important for you to know your federal tax responsibilities. Here are five basic tips from the IRS that can help you get started.

Read More
Accrued Bonuses

Accrued Bonuses

Deduct these expenses before they are paid. The IRS has ruled in favor of accrual-method businesses deducting unpaid bonuses at the end of the year. The company must pay the accrued bonuses within 2½ months of the end of its tax year.

Read More
Fraudulent Mail

Fraudulent Mail

One of the latest scams comes through the postal mail and poses as an official IRS Notice of Tax Lien. If you receive a notice from the IRS, or individuals posing as the IRS, be sure to consult with your tax professional before responding.

Read More
1099-K Reporting

1099-K Reporting

Depending on your type of business, you may receive a 1099-K form in your mailbox. Don’t throw it out! Your tax professional will need it to prepare your taxes.

Read More
Personal Cell Phone

Personal Cell Phone

When a business provides the employee with a cash allowance or reimbursement to pay for a personal cell phone used for business purposes, the amount is also considered an excludable fringe benefit and nontaxable.

Read More
Visit Us On FacebookVisit Us On TwitterVisit Us On Google PlusCheck Our Feed