Blog
Cash Flow Management: the Secret to Success
Cash flow is the lifeblood of any small business. Some business experts even say that a healthy cash flow is more important than your business’s ability to deliver its goods and services.
IRS Warns of Fake Tax Bill Emails
Numerous reports of scammers sending fraudulent CP2000 Notices for tax-year 2015 have been received by the IRS, resulting in an investigation by the Treasury Inspector General for Tax Administration. The notice relates to the Affordable Care Act (ACA) and requests information regarding 2014 coverage. It also includes a request for payment of unpaid taxes.
Choosing the Right Business Entity
When you decide to start a business, one of the most important decisions you’ll need to make is choosing the right business entity. It’s a decision that impacts many things–from the amount of taxes you pay to how much paperwork you have to deal with and what type of personal liability you face. Forms of […]
Importance of Monthly Bookkeeping
Every business should keep their books updated on a regular basis. However, many business owners do not have enough time to actually keep their books current. Instead, they wait until the end of the year to pull their records together to give to their tax accountant. This is a mistake. It is essential that businesses […]
Minimizing Tax on Mutual Fund Activities
Whether you’re new to mutual funds or a seasoned investor who wants to learn more, these tips will help you avoid the tax bite on mutual fund investments. First, you need to understand how distributions from mutual funds are taxed. Tax law generally treats mutual fund shareholders as if they directly owned a proportionate share […]
IRAs Are Not for Day Trading
As an active trader, you quite rightly want to reduce the amount of tax you owe on your profits to the legal minimum. At first thought, you might consider trading from a traditional or Roth IRA to shelter your profits. In a traditional IRA, your contributions are tax-deductible and you don’t have to pay taxes […]
What to Do if You Haven’t Filed a Tax Return
Filing a past due return may not be as difficult as you think. Taxpayers should file all tax returns that are due, regardless of whether full payment can be made with the return. Depending on an individual’s circumstances, a taxpayer filing late may qualify for a payment plan. It is important, however, to know that […]
Tax Planning Strategies to Use This Year
Looking to save money on your taxes this year? It’s never too early to start planning ahead using these proven tax planning strategies.