10 questions to ask when choosing a tax preparer

March 7, 2019

We could list off the qualities of the ideal candidate for preparing your taxes. However, you’ll never be able to find the right candidate unless you ask the right questions. Lots of questions. And not just about pricing. So here we’ve compiled a list of the top questions you should be asking during your search....Read More

How long should you keep your business and tax records?

March 5, 2019

The proper length of time to store a document is dependent on the action, expense or event which a document records. The IRS has established several basic record retention standards for tax records. Lawyers, accountants and government agencies all seem to have different ideas, depending on individual business circumstances, with regards to how long business...Read More

Federal tax lien: file IRS Form 12277 to resolve a claim against your property

January 29, 2019

Allowing tax debt to go unaddressed for too long can result in the IRS placing a lien on a taxpayer’s assets. A federal tax lien is a document filed with a county government (usually where the taxpayer lives or conducts business) notifying the general public that a taxpayer has an unpaid federal tax debt. By...Read More

IRS Form 1040 for 2018: easier format and new schedules

January 17, 2019

This year, 150 million US taxpayers will have to fill out the new IRS Form 1040 – regardless of their incomes or their personal financial situations. The IRS introduced this document following the release of the Tax Cuts and Jobs Act, which went into effect last January. This new tax form is easier for filings...Read More

The gift tax: Be generous while avoiding paying extra in 2019

January 3, 2019

Generosity is a beautiful quality and perhaps the best way to tell someone how much you love and value them. According to the website of the Internal Revenue Service, $38.5 billion was transferred from donors to gift recipients in 2018. In most cases, you’re free to give away money and property to other people without...Read More

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