Over the past few years the IRS has made the use of penalties and fines a more prevalent tool to encourage compliance among taxpayers. This “stick” approach is in direct contrast to the “voluntary” philosophy built within our tax system. Here are a dozen of the
Read more →Want your tax return filed quickly and without error? Then double-check this handy list of items that are often overlooked. Review and signing your e-file approval. The sooner you review and approve your tax return, the sooner it can be filed. Having proof of health insurance.Most taxpayers
Read more →If your business buys and sells products, Xero can help you with the necessary record-keeping. When it comes to keeping track of inventory, product-based small businesses are probably a little envious of companies that sell services. Service companies may have occasional scheduling and staffing difficulties, but they
Read more →Haven’t completed your 2015 taxes yet? You’re cutting it close. Don’t short-change yourself on business expenses, though. If you’ve been in business for several years, you have a pretty good idea of what expenses can be claimed on your income taxes. But even if you think
Read more →QuickBooks Online’s mobile app lacks some features found in the browser-based version, but it provides mobile access to tools you may want on the road. First, it’s free (except for your mobile data plan costs). Second, it’s good. And QuickBooks Online’s mobile app offers more functionality
Read more →Taxpayers neglect to file returns for countless reasons. If you’re one of them, here’s what you need to know. Believe it or not, there are individuals who don’t file tax returns even though they’re owed a refund. (They do have three years to claim it.) It’s
Read more →Once you’ve gone through the setup process, you’ll be ready to explore Xero’s features – and start entering your company’s records and transactions. If you’ve never used accounting software before — or if you have, and you had a less-than-optimal experience — you’re probably eager to jump
Read more →In a 1,300 page Transportation Bill signed into law in December, 2015, there are eight pages that require the IRS to assign unpaid tax bills to outside collection agencies. This means that third party companies will now be calling taxpayers as representatives of the IRS to
Read more →Once again, with the signature of the Protecting Americans from Tax Hikes Act of 2015 (PATH Act), many popular tax items have either been made a permanent part of the tax code or have been extended to 2016 and beyond. Here are the more commonly used tax
Read more →Xero’s exceptional flexibility makes it a great application for countless types of businesses. Here’s an overview of some of your customization options. Clothes come in different sizes and colors. Vehicles come in a variety of makes and models. And there are enough types of mobile devices
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