2019

Get Ready To Open Your Tax Preparation Business

A tax preparation business can be a lucrative career decision and will be helpful to many people who are in need of filing their yearly returns. After choosing where your business will operate from and acquiring all of the licensing needed to legally run your tax preparation service, you need to register through the Internal Revenue Service and should acquire tax software that will allow you to accurately and quickly file each return.


3 Receipts You Should Give To Your Accountant But May Forget As A Writer

You have established yourself as a writer, and you may have even published a few books. Without a doubt, there were probably some expenses involved along the way, and some of these expenses can be deducted from your tax bill at the end of the year. Take a look at some of the receipts you should be giving your accounting service when they work on your taxes if you earn an income as a writer.


Two Reasons Why You Should Always Have Your Taxes Done By A Professional Preparation Service

One of the greatest aspects of living in the digital age is having the ability to go online and get pretty much anything you need at a moment’s notice. It’s great to have food delivered with a few keystrokes, find the perfect outfit for your weekend date without leaving the house, and set up a delivery service so you will never run out of kitty litter again. However, using the Internet for these types of things is certainly okay, but you have to know your limits.


Hiring An Enrolled Agent: Common FAQs

There are few things more disconcerting for any business owner, large or small, than filing and paying taxes. You can bring in the aid of a CPA, but it may be much better if you work with an enrolled agent. Enrolled agents are designated by the IRS and have an excellent level of training and expertise to share. Take a look at some of the most common questions about enrolled agents.


Do You Need A Tax Attorney?

A tax attorney is a type of lawyer who specializes in the world of tax and how it applies to certain things. Taxes are applied to business ownerships, estates, and other things, and sometimes getting the assistance of a tax lawyer over an accountant is necessary. You don’t need a tax attorney for everything, but certain things require this legal assistance. Here are signs you need a tax attorney.  You have a business


3 Tips For Dealing With A Large Tax Debt

Being in debt is stressful, but it can be even more stressful when that debt is owed to the IRS. If you end up with a bigger-than-expected tax bill, owe a large amount of back taxes, or otherwise owe a large debt to the IRS, it’s time to take action and get your debt under control. Otherwise, you risk getting behind, the debt becoming larger due to fees and penalties, and even potentially facing a tax levy or wage garnishment.


Have Bad Business Debts? How They Can Help Your Taxes

Unfortunately, for nearly all business owners, bad debts are a fact of life. But when they occur, you can use them to aid your bottom line for tax purposes. How? Here is what you need to know about deducting bad debts at tax time.  You Must Use Accrual Accounting If you or your business uses accrual-based accounting, you include income and expenses when they are earned rather than when you receive or pay the money.


Own A Small Business? 4 Things You Must Know About Collecting Sales Tax

If you own a small business, you can’t afford to take chances or make mistakes with your sales tax. As a business owner, the first thing you need to do is register as a business owner. The registration process provides a way for the government to monitor your business dealings and track your profits. Without the proper tax registration services, you can’t legally conduct business. In addition to registering for tax services, you also need to ensure that you follow the guidelines provided below.


How To Make Online Payments Benefit You

Everything is beginning to go digital, making life a little bit more convenient. However, there are sometimes charges for that convenience and paying your property tax online has some charges that can affect you later. If you chose to make online property tax payments, you will want to consider how it will affect your federal income tax return the following spring. Paying with your Bank Many governments are now accepting the ability to make ACH Payments for property tax.


3 Tax Tips For Cryptocurrency Investors

From stocks and bonds to real estate and precious metals, there are many ways to invest your money. Today, more and more people are investing in cryptocurrencies, an alternative form of currency that can be sent to others in a more secure manner. Bitcoin, for example, is the most popular and most valuable form of cryptocurrency at this point in time. Of course, as with any investment, taxes are important when you invest in cryptocurrency.


Qualifying For Innocent Spouse Tax Relief

When you and your spouse report your income to the Internal Revenue Service on a joint tax return, then you trust and expect your spouse to be upfront about his or her income. However, not all spouses are honest about what they make, and they hide income from both you and the IRS. When this happens and the IRS discovers the under-reporting, then either one of you is on the hook for the penalty.


How To File A Better Tax Return This Year

The tax season is a nerve-racking period, for many Americans. Any mistakes made when filing tax returns can have serious implications, for you or your business. Thanks to the diverse nature of finances and the fact that tax laws change from time to time, some people don’t have a clue about what they’re doing when they file their tax returns. However, it doesn’t have to be this difficult. You can ensure that tax return you file this year is immensely better than the one you filed last year.


Starting A Tax Business? 5 Elements Of The Right Prep Software

As a paid tax preparer, one of your most valuable tools will be the tax preparation software you choose. How can you choose the right one to make your work easier and your clients happier? Here are five things to look for. Intuitiveness. The software you work with should be intuitive for you. Buttons, menus, and other tools should be easy for you to find and to navigate. Because you and your staff will be the only ones using this software, focus on what is relevant for the way you enter data.