One of the complicated parts of managing your business is knowing and satisfying your tax responsibilities. Unlike personal income tax returns, which are usually completed with certain...
Posted by David Macgregor on 06/15/2020
Ready or not, the tax return changed again during the 2020 tax season. In 2018, the IRS significantly reduced the Form 1040, completely revising the previous traditional version and...
An amended income tax return corrects errors in a federal income tax return. Taxpayers use the IRS 1040X form to file an amended tax return. You might be wondering, "Where is...
Posted by Freddie Cook, CPA on 06/11/2020
With the rising cost of Education each year, student loan seems to be a lifesaver for many. Unfortunately, however, the number of Americans owing student loans increases as each year...
Posted by Advanced Accounting & Tax Planning on 06/10/2020
One of the tasks a person cannot put aside is filing taxes even though this might not be an interesting task to do on a weekend but filing your tax return evades a person from embarrassment...
Posted by Advanced Accounting & Tax Planning on 04/27/2020
The IRS allows individuals, businesses, and properties to file an income tax return after the deadline by obtaining an extension. The correct presentation of an extension means that...
Posted by Larry Hurt on 04/20/2020
Spousal benefits for social security are very confusing. One main reason for the confusion is different social security ruling for a spouse and ex-spouse. The other is the outcome...
Posted by David Macgregor on 04/03/2020
After working with many small and medium business owners, there is a common trend I have noticed. It is the fact that their desire to go into business was not to add the burden of...
Many companies do not earn money, especially during the first year of operation. When this happens, the IRS offers entrepreneurs tax benefits in the form of a net operating loss (NOL)....
Posted by David Macgregor on 02/27/2020