Posts Tagged ‘tax advisor’
Home Schooling Tax Reminder
Home Schooling? In 2018 the IRS EO(Exempt Organization) implemented revisions to the form 1023EZ. Now the IRS EO will Ask for a short description of your activities when applying for 501(c)(3) status Ask more questions about: Your gross receipts (your sources of income) Your assets (what you own) What kind of foundation are you? If…
Read MoreTuesday Tax Tip
As Dorian approaches, IRS reminds preparation for natural disaster Secure key documents and make copies think tax returns, birth certificates, deeds, titles and insurance policies. Put in waterproof containers in a secure space. Duplicates should be kept with a trusted person outside the disaster area. A backup scan on flash drive is another way to…
Read MoreTuesday Tax Tip – Distribution Checks
Tuesday Tax Tip – Distribution Checks The IRS released a ruling that retirement plan distribution checks must be taxed even if the check hasn’t been cashed. An individual’s failure to cash the distribution check received in 2019 does not permit one to exclude the amount of the designated distribution from gross income for that year…
Read MoreTuesday Tax Tip: Sales Taxes Are Due -Even on Internet Purchases
Last year, a 1992 sales tax regulation was overturned, allowing states to decide whether they wanted to collect sales taxes from online purchases. The 2018 ruling caused e-commerce company share prices to temporarily tumble. Most online retailers, such as Amazon, have already been paying state sales taxes for years, but other online vendors, even large…
Read MoreTuesday Tax Tip
Keep sources of cash flow separate.
Read MoreHow Your Accountant’s Conference Can Benefit Your Business
The month of June is not normally regarded as important in terms of accounting deadlines. But June and July are known in the accounting industry as the Accountant Conference months. So many industry conferences are held in June and July that there are lists of the top Accounting Conferences so firms can determine which best…
Read More