General

If you're getting refunds from 2013 filing and you wait until after April 15th of this year to file, you will not get those refunds back. The IRS offices here in Phoenix have shut down their walk-in options. A former…

Never dig your head in the sand; always make sure that you try to work upfront with the IRS. They're actually quite good at setting up payment plans. There may be penalties and interest, but at least you won't have…

If you have other sources of income and don’t really need the RMD from your IRA, you can also donate the funds directly to a charity. There are various ways to structure gifting. You can set up trusts, gift annually,…

Watch the Video to learn more about foreign bank accounts Does your CPA use an organizer to ask you about foreign bank accounts?   One of the things that we do to ensure that our clients are getting the best…

The government now allows the reimbursement of health insurance premiums for small business owners (50 FTE or less), which was taken away about a year and a half ago. There are many questions people have: “What is Trump going to…

The IRS is now saying it is going to take 45 days, 60 days, or 120 days to get a response. All walk-in options have been cancelled; if you have to physically go into an IRS office and submit something…

A bookkeeper would see many different scenarios,  options, and loopholes that they can help you and your CPA apply to your situation. They would also help you with your month-end reconciliations by looking at the reports, not only from the bookkeeper…

LLC’s Tax Filling Rules. Watch the Video! Having separate LLCs for each rental property, for legal reasons,  and tax reasons Obtaining a line of credit or a credit card in the name of the LLC, as you would not want…

When someone passes away, you should file Form 14039 as quickly as possible. This very specific form allows the IRS to protect the social security number of the deceased person. To protect the deceased person’s social security number against fraud…

Did you know that when you provide a gift to a customer, the maximum deductible amount  is $25 per person? Do you and your bookkeeper know the most important points to consider when gifting? Any questions on how gifting works?…

Interesting quick tips on travel and entertainment meals. Watch the Video! You must have records to prove the business purpose, the amount of each expense, the date and place of the entertainment, and the business relationship of the parties entertained…

When you go into business, your focus would be on building a better widget, serving a specific customer, or the like, and not on bookkeeping. I would recommend delegating such tasks. Here are some questions that you should ask: "How…