Tax Information

2 Ways to Look At The American Tax Payer Relief Act (ATPRA)

A time to forfeit from fright or forge ahead with fight. The American Tax Payer Relief Act (ATPRA) was passed and there remain many unanswered questions. One answer we all know for sure is most everyone’s taxes will increase. Small businesses are not exempted from the revenue taxing arm of Congress. We will scramble to(…)

Taxes and Holiday Gift Giving

Better to give (a gift) and receive (a tax break)! There are an increasing number of small business owners increasing their donations. And that is a good idea because we have all heard that it is better to give then to receive: You have you heard this, haven’t you? The tax law supports and emphasizes(…)

TAX Identity Theft: Why You Should Be Concerned About Your Tax Return

TAX Identity Theft: Why you should be concerned about your tax return. In 2011 over 5 Billion dollars in refund checks were delivered. That’s a large sum of money considering all of it went to the Identity thieves. Even though many of the fraudulent returns were filed using social security numbers of children, the deceased(…)

3 Ways To Keep The IRS Away!

IRS Proof your taxes with 3 simple actions. 1. Don’t commingle your funds – Make sure your business account and personal account are separate. This makes it easier to keep track of your expenses and income. And it will also allow you to keep track with how your business is doing. And this will allow(…)

Tax Debt Reported to Credit Bureaus

Congress to consider allowing the IRS to report bad debt to credit bureaus Congress is considering allowing the IRS to report tax debt to the three credit bureaus. Equifax, Experian and TransUnion. The stated reason according to sources is because to promote earlier payment of debt. I look at it from the standpoint of a(…)

Let’s Talk Audits!

Tax Audits: What is an audit? As defined by the An IRS audit is a review/examination of an organization’s or individual’s accounts and financial information to ensure information is being reported correctly, according to the tax laws, to verify the amount of tax reported is accurate. In other words the audit is a just(…)

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