Do you have someone in your business that is specifically assigned to bookkeeping? Experts recommend that if it is possible, you assign someone in your organization to track your billing.
In 1917, the highest personal income tax bracket was raised to 67%. The War Revenue Act of 1917 raised additional funds to use to pay for World War I.
What is the main difference between an Enrolled Agent and a Registered Tax Return Preparer? An Enrolled Agent can offer unlimited representation for Internal Revenue Service issues while a Registered Tax Return Prepare has quite a few limitations on representation services.
An Enrolled Agent, or EA, is someone who is qualified and licensed by the United States Department of Treasury to represent any taxpayer for issues dealing with the Internal Revenue Service.
Have you had a positive experience with a professional tax preparer or accountant? Share your story and tell us why you would recommend that others hire a tax professional for all their tax needs.
Did you know that the Federal Bureau of Investigation employs over 2,000 professional accountants? In fact, only the best of the best are hired to be one of these special accounting agents for the world's most well-known domestic intelligence and security agency.
If you own your business, how you structure it determines how you are paid, how profits and losses are determined, and what your tax liabilities are. Let us help you with planning to make sure your business thrives.
When you hire a professional accounting service, you’re placing your bookkeeping records in the hands of experts. In fact, a business accounting service hires only the most highly trained and qualified personnel, who are dedicated to attention to detail.
If you already know that you’re going to owe substantially more in taxes than you can afford to pay, you may not know what options are available to you. Working with a tax accountant can help you to gain a better understanding of what to do next.
A tax accountant can help with more than just your tax return. Are you thinking of starting a new business? You must choose what type of entity your new business will be – a partnership or corporation, for example – and an experienced accountant can explain the financial implications of your choices.
What’s the difference? Enrolled agents (EAs) were established to work with individuals and businesses and intercede with the federal government on their behalf. Certified public accountants (CPAs) were established to ensure uniformity in accounting practices.
What is a progressive tax system? In a progressive tax system, individuals who earn more money pay more money in taxes. The United States has a progressive tax system.
Tax time can be one of the most stressful times of the year for many people, especially if you end up owing money to the IRS. Hiring a professional to prepare your taxes can help reduce some of that stress.
The accounting profession is thousands of years old and can be traced all the way back to ancient Mesopotamia! The Mesopotamians as well as the early Egyptians had accountants and even early forms of auditing systems.
If you realize that you need to change your withholding, it’s easy. Just give your payroll office a new W-4 and make sure that your form will get your withholding as close as possible to your eventual tax liability. A tax professional can help you determine your withholding.
Did you know that the enrolled agent profession dates all the way back to 1884, when there was a trend of questionable claims being presented for Civil War losses? At this time, Congress acted to regulate persons who could represent citizens in their dealings with the Treasury Department.
If you’re like many American taxpayers, you may be looking for easy ways to save money at tax time. While it can feel counterintuitive to pay someone to work on your taxes when you need to save money, your tax accountant can actually help you minimize your tax liability or increase your refund.
When you're a small business owner, friends hand you the check for dining and drinks, saying, "But you can write it off!" What they don't understand is that doesn't make it free--you still have to pay for it!
Electronic filing of tax returns may seem like a fairly recent invention, but partial electronic filing began in 1986. Taxpayers owing money could file returns electronically in 1992.
If you are unsure of who to hire, you can always look for recommendations from other small business owners.
There are many reasons why you need our Enrolled Agents’ services. Did you know that tax audits are up over 100 percent since the year 2000? Throughout this period, the number of examinations rose every year through 2009. Current trends show a substantial increase in examinations from present levels too.
Whether you are going to want to accelerate or defer expenses in a given year is going to depend primarily on your business outlook. For instance, if you had a bad year but expect your profit to pick back up, then you’ll want to defer expenses so that you can take the deduction at that time.
The best way to get a head start on your taxes is to prepare your records ahead of time, and to have a list of any issues and questions you’d like to discuss with your accountant. You should also analyze your financial statements for accuracy.
A great way to manage to your tax burden is to start or contribute to a retirement plan at year's end. By maxing out on this type of contribution, you can really reduce your income for the current year while taking an important step toward planning for your future.