Taxes are so annoying. How awful is it that you have to save all of your documents for seven years? There almost always seems to be no point in doing taxes ever because you are always going to have to pay out and not give back no matter how hard you try to make it [...]

US citizens are struggling in the weak economy but so is the US government. In an effort to raise tax collection from enforcement efforts, the IRS is eager to make payment arrangements on taxes owed by individuals unable to pay in full.The IRS has pledged to extend more agreements for paying tax with installments. Sometimes [...]

People who have enough deductions to itemize on their tax returns frequently miss the small items that add up to significant tax savings. A percentage of every additional deduction is money in the bank for a taxpayer who itemizes. The benefit these individuals obtain by hiring professional tax preparation is having experts who know about [...]

An accountant is one who records, interprets and reports financial transactions. Every single business whether it is big or small, new or old MUST be able to keep proper records of every financial transaction. There are several aspects of accounting such as managerial accounting, tax accounting and financial accounting. Tax accountants play a key role [...]

If you own an S Corporation, you must file Form 1120S every year to report income and expenses to the IRS. Part of Form 1120S is a balance sheet. Read on to find out whether you have to complete this report in order for the tax return to be complete.First, let’s review the purpose of [...]

Sales Tax Checklist for Technology Companies Do you make internet sales? (On all internet sales, sales tax is due…assuming the product/service is taxable. The issue is whether the seller has a duty to collect and remit or whether the buyer is required to self report.)Do you have affiliate relationships (for generating sales) with out-of-state companies?Do [...]

It’s interesting how, as a presidential election approaches, certain key issues almost invariably come to the fore. For example, many of you have probably been hearing a lot about taxes, with the Obama administration even proposing a Buffett Tax on those making over a $1 million a year to collect even more from the rich [...]

It’s a win-win situation – you cut your tax bill, and a charity gets the money they need to help people in your community. The Federal Tax Code changes yearly, but the IRS continues to allow you to write off contributions to charity…as long as you make them to an IRS approved organization, and you [...]

Roads and highways are the lifeblood of any country. They are the passageways that serve as the arteries through which different types of merchandise and materials pass through on their way to their intended destinations. Yes, roads and highways are primarily there to act as routes for the transportation of your regular traveling public. It [...]