Tax season is well underway. Here are several ways to make sure that your tax return is prepared and filed as quickly (and as accurately!) as possible. 1) Keep documents in one place. Missing tax…

Tax Deadlines for Spring 2023 March 15 –  Deadline to file partnership and S-Corporation tax returns.   April 18 – Deadline to file individual, trust, gift and calendar-year C-Corporation returns. – Deadline for making 2022…

A must-read if using digital payment tools or reselling tickets. A recent tax law change, which was actually postponed a full year, now requires transaction reporting to the IRS for anyone receiving more than $600…

Prior to e-filing your tax return, you will need to review it. By proactively reviewing your tax return, you can reduce your risk of being audited by minimizing typos and mismatched mistakes. Taking the time…

  Stop the Clock: Your most important defense against an audit In a tax court decision, a judge ruled that a joint tax return not signed by both spouses is not a validly filed tax…

What is depreciation? Depreciation is the name of the expense that we recognize when we write off the cost of an asset over some period of time. Now, typically, if an asset is meant to…

Every industry and profession has common terms that are used so often those of us in the business often forget that most people do not have the depth of understanding that a person working within…

Each year, the IRS audits over 1 million tax returns. With agency resources shrinking, the IRS is more selective when choosing which tax returns to audit. Knowing what the IRS is looking for can help…