Bookkeeping
Check Before Cheque
This time of the year is big for charitable contributions. PersonalTaxPrep.com just wants to remind you check before cheque. Before you contribute to that charity hoping for charitable contribution by the end of 2019, check the IRS’ list of tax exempt organizations. IF you just want to give, fine, but if you were hoping for…
Read MoreGood RecordKeeping = Good Business
Small business owners do everything from product design to janitorial work. No wonder they sometimes struggle to keep up with recordkeeping. Good records are vital to help business owners in the following: Monitor the progress of their business. The decisions made daily in business can be instinctual or based on actual sales. Those based on…
Read MoreSmall Business Owner: Learn if You Can Claim this Deduction
In a gig economy, there is an important deduction for small business entrepreneurs: Your home office deduction. In general, if you work out of the home, you may use this deduction… When the following applies: As your main place of business. As a place of business where you meet patients, clients or customers in the…
Read MoreNational Veterans Small Business Week
Tax Tip for a Happier New Year in 2020
For a Happier New Year, Gather and Organize your business tax documents now. Waiting until taxes are due will only create added stress and delays. The IRS in a series of reminders wants small business owners to gather their business tax documents early and organize them now. Need help? come see us at BusinessTaxPrep.org for…
Read MoreWithholding Estimator Now Saves Headache in New Year
Planning to figure your taxes after the new year? Why wait? In the first of a series of tax filing reminders, the IRS urges individual taxpayers to use the Tax Withholding Estimator to find out whether more should be withheld or worse, how much will be due when the tax return is filed. If you…
Read More5 Top ExPat Tax Tips
File on time, every time. This is actually a good tax tip for every US Taxpayer: File your tax return by April 15. If you don’t owe US taxes on your foreign income, the IRS extends that deadline by two months, June 15. You may apply for additional extensions through October 15, but you may…
Read More2 Million ITINs expire in 2019
By the end of 2019, 2 million ITINs will to expire. If you, or someone you know were unable to get a social security number, and needed to get an ITIN instead, you may need to renew it to avoid a delayed refund. Any ITIN with the middle digits 83,84,85,86,87 will expire as of December…
Read MoreE-file Oct 31 Payroll Tax Forms
The payroll tax return due date of October 31 is almost here. But you don’t have to scramble to mail these returns. The IRS is encouraging you to e-file forms 940,941,943,944 or 945. The IRS in a new release stated e-filing payroll returns are more accurate, due to instant alerts on missing information. Processing time…
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