A visible expression of confusion in tax policy out of Washington D.C. is the treatment of a short list of tax laws that have been extended only to expire once again. In late December, Congress finally acted to extend many of these tax provisions for 2014. Here
Read more →The IRS recently announced mileage rates to be used for travel in 2015. The business mileage rate increases by 1.5 cents while Medical and Moving mileage rates are lowered by one cent. Charitable mileage rates are unchanged. Standard Mileage Rates Mileage Rate/Mile Business Travel 57.5¢ Medical/Moving
Read more →Here’s an overview of the home page and what you can access from there. Many companies have been hesitant to trust their financial data — and that of their customers and vendors — to the internet, despite the fact that solution providers have built sophisticated security systems
Read more →Now that the tax laws for 2014 have been put to bed, it is time to start gathering your tax records for 2014 and taking steps to get your tax house in order for 2015. Here are some ideas to help you. Look for your tax forms. W-2s,
Read more →Most small businesses use invoices for billing customers. But there are times when you may want to send statements instead of — or in addition to — invoices. One of the more enjoyable parts of your job is probably sending invoices to your customers to bill for
Read more →Do You Qualify for the Earned Income Tax Credit? There are many requirements you must meet in order to qualify, but it may lower your tax bill. Supporting a family can be difficult, not to mention expensive. Working families whose income is fairly low need all the
Read more →With the potential for retroactive tax law changes in 2014, please prepare for the extension of the following tax laws that expired in 2013. This expiration and extension treadmill has been going on for years. And while there is no guarantee that changes will be made, by
Read more →Do you have a household employee? The “nanny tax” refers to the part of the tax code that deals with household workers that are treated as employees. The nanny tax rules require you to withhold Social Security and Medicare taxes for any household employee that earns $1,900
Read more →There’s still time As 2014 winds down, there is still time to reduce your potential tax obligation. Here are some ideas to make your 2014 tax return less of a burden on your wallet. Defer income or accelerate expenses. Remember individual taxpayers are on the “cash basis”of accounting
Read more →Depreciation is a very complex element of the tax code. It’s best you don’t try to tackle it on your own. From time to time, you may buy a piece of equipment for your business. This can be anything from a small computer to a large machine
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