Category Archives: tax advice

Becoming a smarter renter

Renting an apartment, condo or house; leasing a piece of equipment; renting business property; and leasing a car all involve the common practice of renting something that is owned by someone else. To make sure you always have a good … Continue reading

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Tips on tip reporting

If you are like millions of taxpayers who work in the service industry, you may receive tips. The tax code is clear; if you receive tips you must report them as income. Some employers have systems to make this easy, … Continue reading

Posted in Business Owner, customer service, Employee Benefits, employees, Filing Taxes, Payroll, Penalty, tax advice, tax planning, taxes, Uncategorized | Tagged , , , , | Leave a comment

Do a business valuation when you’re ready to sell your company

Well before you’re ready to sell your company, you’ll want to determine its fair market value as a starting point for negotiations. Of course, obtaining a reasonably precise value for your business is often a complicated and time-consuming task. Accurate … Continue reading

Posted in Business, business help, Business Owner, Financial Planning, Investing, investment, IRA, save on taxes, tax advice, tax planning, Tax Return, Uncategorized | Tagged , , | Leave a comment

Know the facts about IPOs

Do you know anybody who has tripled his or her money investing in the initial public offering (IPO) of a hotshot new company? It can happen. Yet the truth is, most investors don’t make money playing IPOs. It’s just that … Continue reading

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Five home office deduction mistakes

If you operate a business out of your home, you may be able to deduct a wide variety of expenses. These may include part of your rent or mortgage costs, insurance, utilities, repairs, maintenance, and cleaning costs related to the … Continue reading

Posted in audit, Business, business help, Business Owner, deductions, Filing Taxes, New Business, Operational Accounting, real estate, record keeping, save on taxes, Tax, tax advice, tax exempt, Tax Fraud, tax planning, Tax Return, taxes, Uncategorized | Tagged , , | Leave a comment

Don’t assume it’s correct, just because it’s the IRS

Quotes from actual IRS correspondence received by clients: “Our records show we received a 1040X…for the tax year listed above. We’re sorry but we cannot find it.” “Our records show you owe a balance due of $0.00. If we do … Continue reading

Posted in audit, Filing Taxes, Financial Planning, IRS Articles, Penalty, record keeping, Tax, tax advice, tax bill, Tax Return, taxes, Uncategorized | Tagged , , | Leave a comment