May 30, 2020 | Accounting, General IRS Information, General Tax Information, Income Taxes
The Internal Revenue Service announced today that later this summer taxpayers will for the first time be able to file their Form 1040-X, Amended U.S Individual Income Tax Return, electronically using available tax software products. Making the 1040-X an electronically...
Apr 21, 2020 | Accounting, General IRS Information, General Tax Information, Income Taxes
It is important as a business owner you properly determine whether the individuals providing your services are employees or independent contractors. I am an independent contractor or in business for myselfIf you are a business owner or contractor who provides services...
Mar 25, 2020 | Accounting, General Tax Information, Income Taxes, International
Under the Eligibility Test, if you have both owned and lived in your home for at least two of the last five years, then you are eligible to exclude a gain of up to $250,000 ($500,000 for married taxpayers) from tax If you don’t meet the Eligibility Test, you may...
Oct 21, 2016 | Business Tax, General Tax Information, Income Taxes
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...
Sep 9, 2016 | Income Taxes
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...
Aug 26, 2016 | Income Taxes
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...
