Apparently, the IRS is seeing a problem with small business owner form filing.  It has issued a reminder that we are passing along today.  A small business files either Form 944, annual tax return OR Form 941, quarterly tax return but NOT both.    Want more information?  Visit www.businesstaxprep.org to be connected to a tax professional…

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Donating? It is your last day to donate to a charity for 2019 tax deduction.  You can donate online or in person…The IRS offers a list of tax exempt organizations that double as tax deductible donations here or visit PersonalTaxPrep.com to locate an experienced CPA near you to guide you on your tax plan.

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We are in the final days of 2019.  And for those of you who are last minute, this is the last chance to save $$$ on your 2019 taxes.  We have posted about changes in the tax code through the Tax Cuts and Jobs Act, but it is a good idea to go over your…

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Amidst all the holiday parties and get-togethers, take a few minutes to save yourself hassle in 2020.  Think you know you’re getting a tax refund when you file? Things that happen now might change what you think you will get.  You could even owe the government more money! Know what you owe. Certain financial transactions…

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We are in the final stretch of 2019 and now is a good time to check your withholding estimator.  Grab your paystubs and other income documents from all income sources.  Grab your most recent documents on pensions, annuities, Social Security benefits and self-employment income, as well as 2018 tax return.  Go to irs.gov and check…

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December 2019 TAX TIP: It’s international Giving Tuesday!  If it matters to you, today is a great day to make your charitable donations to the causes you support.  You can save on your taxes and maximize your donation if you find a donation match.  Giving Tuesday is the day the people flex their generosity muscles,…

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The IRS just released guidance on the new business travel per diems that went into effect in October.  The guidance is issued to help clarify the definition of incidental expenses as: fees and tips given to porters, baggage carriers, hotel staff and staff on ships.  NOT included are Transportation between places of lodging, business and…

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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…

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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…

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