Your Canceled Debt Could Be Taxable
Your Canceled Debt Could Be Taxable Generally, debt that is forgiven or canceled by a lender is considered taxable income by the IRS and must be included as income on…
IRS Ends Tax Transcript Fax and Third-Party Services
IRS Ends Tax Transcript Fax and Third-Party Services Due to ongoing efforts to protect taxpayers from identity thieves, the Internal Revenue Service no longer offers tax transcript faxing service and…
Recordkeeping Tips for Small Business Owners
Recordkeeping Tips for Small Business Owners Avoid headaches at tax time by keeping track of your receipts and other records throughout the year. Whether you use an excel spreadsheet, an…
How the Sharing Economy affects your Taxes
How the Sharing Economy affects your Taxes If you’ve ever used–or provided services for– Uber, Lyft, Airbnb, Etsy, Rover, or TaskRabbit. then you’re a member of the sharing economy and…
Filing an Amended Tax Return: What you Need to Know
Filing an Amended Tax Return: What you Need to Know What should you do if you already filed your federal tax return and then discover a mistake? First of all,…
Choosing a Legal Entity for your Business
Choosing a Legal Entity for your Business If you’ve decided to start a business, one of the most important decisions you’ll need to make is choosing a legal entity. It’s…
What to Do if You Missed the Tax Deadline
Monday, April 15, 2019, was the tax deadline for most taxpayers to file their tax returns. If you haven’t filed a 2018 tax return yet, it’s not too late. First,…
Tips for Getting Paid on Time
Tips for Getting Paid on Time Have you found that collecting on your accounts receivables has become more challenging? If so, strengthening your collection procedures may allow you to improve…
Identity Theft and Your Taxes
Identity Theft and Your Taxes Tax-related identity theft occurs when someone uses your stolen Social Security number to file a tax return claiming a fraudulent refund. It presents challenges to…
Credit for Plug-in Electric Vehicles Winds Down
Credit for Plug-in Electric Vehicles Winds Down The tax credit available for purchasers of new General Motors plug-in electric vehicles begins phasing out on April 1, 2019. The phaseout was…