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Understanding Your Potential Write-Offs

If you are like most small business owners, you might be in the dark regarding the taxes you have to pay and the ones that you don't. Write offs and tax codes can be difficult to understand, which is why it is so crucial to work with the right accountants. When I started working with an accountant, it was amazing to see the difference that it made. Overnight, my books made more sense and my accounts were simple to figure out. This blog is all about understanding your potential write offs, and avoiding issues with tax liabilities, mistakes, and audits.

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The Real "Red Alerts" When It Comes To Getting Audited

Posted on 22 December 2016

For the most part, even a certified public accountant can't tell you when you're going to get audited. The Internal Revenue Service has an extraordinary wealth of data that is intended to alert them to potential red flags. But many of the things that people suspect could lead to an audit are actually completely harmless or a nonissue. There are only a few real red alerts when it comes to being audited. [Read More]

Expats! Forgot To File Your Taxes Or FBAR Forms? You May Still Be Able To File And Avoid Penalties!

Posted on 15 November 2016

When you are living abroad, you have a lot to think about, whether you have moved to another country for business purposes or pleasure. Your taxes are likely furthest from your mind. Even though you are not currently living in the United States, you are still a US citizen, and as such, you still have an obligation to file your yearly income tax returns, as well as your FBAR (Report of Foreign Bank and Financial Accounts Report) forms. [Read More]

Three Reasons Why You Need To Hire A Professional Tax Preparation Company When Opening A Business

Posted on 12 October 2016

When you start your own business, it is important to make sure that you properly plan for your taxes. Understanding the tax codes as a private business can be difficult if you have not been properly trained. Fortunately, you can hire a professional business tax preparation company to make the planning easier. Below is a guide that will walk you through the many ways a tax preparation company can help you properly prepare your business for filing taxes. [Read More]

Own a Business? Your Personal Tax Debt Can Impact Your Business

Posted on 7 September 2016

If you own your own business or are a partner in a business with others, your personal tax debt can affect your business if you fail to pay your taxes or own a significant amount of back taxes. Depending on the legal setup of your business, the IRS can seize both cash and assets from your business to resolve the personal tax debt that you owe them. Business Partnerships If you are in a business partnership, your business is not safe from the IRS. [Read More]