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Claiming Business Auto Expenses and the Myriad of Rules
Running a business probably will involve lots of traveling. You have to pay visits to the suppliers, visit clients, and even government agencies on business matters. It is however, still very tempting...
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The Power the IRS Wields Against Non Filers
If you don’t like paying taxes, like most, you may be thinking of how to evade them. Some may even think that they could easily get away with avoiding paying and filing taxes. These thought are...
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Have You Electronically Saved Your Tax Records?
For decades past, most taxpayers have had to endure the headache of checking every closet, every file cabinet, and any other possible area in their homes for their tax records. If one is prone to...
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What You Must Bring for a Tax Return Preparer
You probably would not want any unnecessary appointments with a tax preparer because you most likely want all your taxes done in just one meeting. To make sure that you don’t have to have multiple...
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How to Correct Mistakes on Form 1099
Have you received a Form 1099 that contains incorrect information? For example you were paid a service fee of $50,000, but the Form 1099 you received indicates that you were paid $500,000? This simple...
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What to Bring with You when You Go See Your Tax Preparer
If you have decided to opt for a tax expert to prepare your Form 1040, it is important to know the exact information you will give him/her. In this case, start with all the copies of W-2s, 1098s,...
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Tax Help for Independent Contractors & Freelancers
Being a freelancer is great with all the freedom it comes with. However, it involves experiencing a fluctuating rate of income. If you are a contractor, you may find that the complexity involved in...
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Stay Out of the IRS’s Bad Books
It is important for you as a tax payer to do everything in your power to prevent yourself from undergoing an audit. Audits can be quite nerve wrecking, time consuming, and expensive, even if you are...
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Learn Why You Could Be Audited
If you receive an audit notice, it does not mean that it is time for you to switch to panic mode. It just means that the IRS is simply carrying out a counter-checking procedure on your numbers to...
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Important Tips to Preparing Your Tax Return
The following are some tax tips to make your tax preparation much easier: One important IRS literature you should be familiar with is IRS Publication 17 (Your Federal Income Tax). It helps you...
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