No matter what time of year, taxpayers should be on the lookout for scams. Here are some things taxpayers should remember to help them spot scams and avoid becoming a victim. Phone Scams The IRS does not leave pre-recorded, urgent…
This year, National Small Business Week is May 5-11. For more than 50 years, the week has recognized the important contributions of America’s entrepreneurs and small business owners. Here are just a few key deductions and credits that can benefit…
Small Business Week - Depreciation This year, National Small Business Week is May 5-11. For more than 50 years, the week has recognized the important contributions of America’s entrepreneurs and small business owners. The IRS is reminding small businesses and…
It is important to choose wisely when looking for a new tax professional to assist in the preparation of your tax filings. Here are ten items to look out for when choosing a tax professional. Check the Preparer’s Qualifications People…
Read More Ten Things To Consider When Looking For A Tax Preparer
Small Business Week - Recordkeeping For Small Businesses Small business owners should keep good records. This applies to all businesses, whether they have a couple dozen employees or just a few. Whether they install software or make soft-serve. Whether they…
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Taxpayer Bill of Rights - Part 2 In 2014 the IRS adopted "The Taxpayer Bill of Rights" which is the cornerstone document to provide the USA's taxpayers with a better understanding of their rights. These rights were already embedded in…
Taxpayer Bill of Rights - Part 1 In 2014 the IRS adopted "The Taxpayer Bill of Rights" which is the cornerstone document to provide the USA's taxpayers with a better understanding of their rights. These rights were already embedded in…
While abroad U.S. expats sometimes choose to invest in vehicles that inadvertently trigger additional U.S. reporting requirements. One of these reporting requirements are in regards to Passive Foreign Investment Corporations (PFICs), which can be triggered by a U.S. person simply…
Read More Passive Foreign Investment Company (PFIC) Reporting for Expats
With every increasing global travel and trade the IRS chose to remind everyone today that individuals considered to be U.S. Persons for U.S. tax filing purposes must report offshore funds and income derived from those funds. Remember: "Failure to Report…
Read More Remember: “Failure to Report Offshore Funds Remains a Crime” – IRS
Phony calls from the IRS have been on the rise in recent years, and tax season is when they are at their height. The IRS stresses all taxpayers to be on the lookout for callers representing to be IRS agents.…
