ITIN Update

Individual Tax Identification Number IRS Update to CAA Rules and ITIN’s Certifying Acceptance Agents (CAA) are more in demand than ever been. However, their ability to perform the much needed service to resident taxpayers has been limited by the IRS to certifying the...

Financial record maintenance

The Importance of Maintaining Accurate Business and Personal Records As a tax accountant, I spend countless hours preparing personal and business tax returns. I also, spend much of my time explaining what information is to be maintained within the records used for all...

Tax Outlook

The Congressional budget estimates a deficit of $590 billion for fiscal year 2016 with federal tax revenues reaching $3.3 trillion. Based on this estimate, the 2016 budget exceeds the 2015 budget by $152 billion. Now that I have infuriated so many people (please...
Kiddie Tax

Kiddie Tax

Does your child need to file a tax return? As parents, we all try to do the responsible thing and put money away and/or create investment accounts for our children. A great thing is when the money starts making more money. Everyone likes that. As adults, we know we...

Are you an employee of your own company?

Do you own your own business? Are you on payroll? Should you be? Usually the answer is simple. Payroll vs No Payroll: Sole Proprietor: As a sole proprietor payroll for you, as the business owner, is not on the table, as all monies flow to the personal tax return....