In our effort to educate the small business owner in how to keep more of their hard earned money, often we get asked: So what is better ROTH or Traditional IRA’s? So we asked a local Financial Expert to explain the differences. What type of IRA (Traditional or Roth) best meets your financial goals? …
Financial Planning Corner: ROTH vs. Traditional IRA Read More »
If you run a small business, then chances are you maybe required to file 1099’s. These are probably one of the most misunderstood forms business owners file. Here’s the scoop: What are they for? Form 1099 is used to report money paid to individuals who are not your employees. The IRS …
Health Care Reform is here! We’ve invited a special guest to discuss what to expect. The rest of this post is written by John Heaton of JMH Insurance Solutions. This is a MUST read for any small business, especially if you are in California! It is finally here. We are three weeks into open enrollment. …
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Today, I received a news alert from the IRS. I thought I would share as it’s chalked full of useful information. Here are some tips from the IRS on tax recordkeeping. • You should keep copies of your filed tax returns as part of your tax records. They can help you prepare future tax returns. You’ll …
Although the 2012 tax season is officially over, tax scams unfortunately are not, which is why the IRS issues an annual “Dirty Dozen” list that includes common tax scams affecting taxpayers. Taxpayers should be aware of these tax scams so they can protect themselves against claims that sound too good to be true, and because …
Don’t Be Fooled: The Dirty Dozen Tax Scams for 2013 Read More »
April 15 is the annual deadline for most people to file their federal income tax return and pay any taxes they owe. If, for whatever reason, you missed the deadline you may be assessed penalties for both failing to file a tax return and for failing to pay taxes they owe by the deadline. Here …
Eight Facts on Late Filing and Late Payment Penalties Read More »
What should you do if you already filed your federal tax return and then discover a mistake? First of all, don’t worry. In most cases all you have to do is file an amended tax return. But before you do that, here are 10 facts you should be aware of when filing an amended tax …
More than 52 percent of businesses today are home-based. Every day, people are striking out and achieving economic and creative independence by turning their skills into dollars. Garages, basements and attics are being transformed into the corporate headquarters of the newest entrepreneurs – home-based businesspeople. And, with technological advances in smartphones, tablets, and iPads as …
If you’re one of the more than 3.4 million taxpayers claimed deductions for business use of a home (commonly referred to as the home office deduction), you might be interested in the new simplified option available for taxpayers starting with the 2013 return most taxpayers file early in 2014. The new optional deduction, recently announced …
Simplified Option for Home Office Deduction in 2013 Read More »