blog

  • 3 Situations Where Hiring A Tax Preparation Service Is A Good Idea

    Tax season always seems to be just around the corner, and it is important that you are prepared for it. This allows things to go much more smoothly for you, and it helps you to ensure that all of your taxes are paid in full and on time. One decision that you need to make in terms of your taxes is if you would like to prepare your taxes yourself or if you want someone else to prepare them for you.
    [Read More]

  • 3 Things To Count As Expenses With A Regular 9-5 Job

    You work hard all year only to realize when it's all over that Uncle Sam still has his hand out because you've not had enough taxes deducted from your paycheck to cover your tax liability. Even though you have a regular job and do not own your own business, it does not mean that there are not certain ways that you may be able to chip away at that tax bill, especially if you have work-related expenses.
    [Read More]

  • 5 Things You Need To Do In Order To Understand The Technical Side To Payroll

    If you ever spent any time as an employee, you know that in order to get your check, that your employer needs your hours so that they can complete their payroll. It is pretty simple when you are on the employee side of things – just submit your hours to your employer and wait for your paycheck. When you are on the employer side of things though, it is a little more complicated.
    [Read More]

  • Deducting The Cost Of Unreimbursed Work Expenses

    Some employed individuals occasionally spend their own money while performing work duties for their company. The expense might be unanticipated, but necessary to get the job done. Other employees may routinely incur costs while traveling for the benefit of their company. In either scenario, the employee may be able to deduct the cost of unreimbursed business expenses on their taxes. Expenses paid by an employee that are reimbursed are not deductible on the employee's tax return.
    [Read More]

  • Self Employment And Quarterly Taxes

    If you're making money regularly as a self-employed person, then you have probably heard of something called "estimated taxes." These are taxes which self-employed people pay per quarter throughout the year. Most non-self-employed people have their taxes taken out with each paycheck. Quarterly estimated taxes is basically a self-employed person's version of this. If you are making more than $400 in self-employment income, then you also must pay self-employment taxes. However, just because you're self-employed and must pay self-employment tax, it doesn't necessarily mean you have to pay estimated taxes.
    [Read More]

  • Getting The Best Tax Situation Possible For Your Mowing Side Business

    Many people make a little extra money during the summer mowing lawns. While it is not likely a major source of income, it is one that can help out a lot. Those who are interested in starting this type of business need to understand how they can get the best possible tax return situation. Mowing Is Likely Taxable Those who start a small mowing business may think it qualifies as more of a hobby than a business.
    [Read More]

  • What To Do When You Are Audited By The IRS

    Getting audited by the IRS can create a scary situation. There are many times when people do not know what to do when they are audited by the IRS because it has never happened to them before. The guide below walks you through the steps to take when you are audited by the IRS to make the situation as minimally stressful as it can be. Gather Your Tax Information For Previous Years
    [Read More]

  • What Should You Do If You Can't Pay Your Taxes?

    If you didn't get your tax withholding right this year, you may be facing a huge tax bill. If you've completed your tax return and found you owe far more than what you have in your savings account, you may fear what will come next. Luckily, the IRS does not live up to its scary reputation. They will work with you as long as you work with them. Here's what to do.
    [Read More]