Filing your taxes on time is essential to avoid potential problems and penalties. Late tax filers may face various consequences, such as additional fees, interest charges, and even legal issues. By filing your tax returns promptly, you demonstrate your responsibility as a taxpayer and ensure compliance with the law. Timely tax filing also helps you […]
Owing taxes can be financially painful which often leads to physical and relationship problems and more. Tax delinquency can cause feelings of embarrassment and make others lose respect they had for you. Whether you are an individual who may not be affected as emotionally as others when dealing with tax issues, working with a professional
3 Steps Towards the Path to Resolving Your Tax Issues Read More »
In this article, we give some ideas you can take into consideration when determining your salary as an S-Corporation owner. These suggestions are based on you already having a basis for determining what your reasonable compensation range would be based on the factors we discuss in our previous article, “Reasonable Compensation – What No One
3 Reasons to Pay a Higher Salary as a S-Corporation Owner Read More »
Am I able to write off my donation? This is a common question that generally is not asked until it’s too late. Many dollars have been lost because the necessary financial records required to qualify for such tax saving actions were not maintained and/or proper documentation was not provided at the time of donation. To help you avoid
Selecting the right tax professional can be just as important as choosing the right person to marry. Okay, maybe not as serious as marriage, but it is pretty important. Think about it. Since more than likely, you are not an expert in tax, you have to find a professional you feel comfortable with and whom you can trust to prepare
Top 4 Qualities To Consider When Choosing A Tax Preparer Read More »
Now that you have made the decision to become an entrepreneur, usually the next decision is determing the kind of business you will have. Should your business be a C-Corporation, S-Corporation, or a Limited Liability Company? These options each come with there own tax and legal implications that should be taken into consideration.
Getting ready to file your tax return? One way to make sure this process goes as smoothly as possible is to make sure you have all the documents necessary to prepare your return. Getting your paperwork organized helps you avoid delays when filing your return, and also ensures your return is complete and accurate when
3 Documents you Need to Avoid Delays in Filing your Return Read More »
One of the main causes of federal income tax troubles is not paying enough income tax throughout the year. The United States income tax system is a “pay tax as you go” type of system. In other words, taxes must be paid as you earn income (wages, salaries, self-employment income, capital gains, etc.). Income taxes
