U.S. tax law is notoriously complicated both to laymen and those who work in finance but may not specialize in tax preparation. Because of this, it's often worth it to enlist the help of a tax specialist who has an extensive breadth of knowledge regarding the tax code and experience handling
Tax Preparer Red Flags: Telltale Signs of Tax Accountants You Should Avoid
With the proliferation of tax preparation storefronts that are here today and gone tomorrow, the prevalence of tax return scams or unscrupulous tax filing practices is on the rise. While the government is attempting to buckle down on tax scammers, it's incumbent upon you to sort out the bad apples
Bookkeeping and Tax Preparation: The Case for Both
Small businesses have a tendency to try to keep everything in-house. Most business owners agree that a tax professional is essential to running a profitable business but are less convinced that it's worth it to outsource bookkeeping. But as your operations grow, so too does the benefits of having a
Certified Public Accountants: Tips for Saving Money with your CPA
The services of a CPA are invaluable. Not only can they get you bigger tax returns and save you time and hassle, but they can also keep you out of hot water with the IRS and the state tax department. Many tax filers see CPA fees as an investment, since in the end, a CPAs services may pay for
Starting A New Business – A Checklist
Are you looking to start your own business? Below is a quick checklist of things you will need to do when starting your own small business. This is a starting point as there may be other steps required for the business type you select. 1. Apply for your Employer Identification Number (EIN) with
Hire an Unemployed Worker to Save on Payroll Taxes
When an employee gets a paycheck, he or she is quick to notice the difference between gross pay and net pay - the bulk of which is usually due to Social Security and Medicare taxes totaling 7.65% of their gross wages. But what they don't notice is that their employer also has to pay 7.65% on these
CPA, ABA, CFP – Which Credentials Matter?
When choosing a professional to help you file your income taxes - whether you are an individual or are running a small business - choosing the tax accountant with the right credentials is key. Flipping through the phone book or browsing through online business listings, you'll likely encounter a
Tax Accounting: How Hiring a CPA Can Help You Avoid an Audit
As a small business or self employed tax filer, your chances of being audited are somewhat higher than someone merely filing a few W-2s. Part of the reason is that the IRS applies greater scrutiny to certain subsets of tax filers who may be more prone to tax fraud. But it also happens simply