Sometimes it is necessary to close up shop. If you are in this situation, you are probably wondering what, if anything, needs to be done about your taxes. If your business is an S corporation, we have you covered. Below…
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When it comes to federal income taxes and your business, understanding the basics of the Employer Identification Number (EIN) is important. This is especially true when just starting your business and determining if you need to apply for an EIN….
So you’ve realized that you messed up on part of your federal tax return? Are you freaking out? Do you feel like you’re being followed by someone in a black suit? First of all, chill. It’s going to be alright….
When you’re starting a new business, everything is already overwhelming enough—forget having to fill out new and unfamiliar forms come tax time! And the Schedule C can look like a doozy, but I promise, it’s not that difficult (especially if…
Getting a divorce is terrible enough as it is. Getting divorced when you own a small business is even more terrible, considering that there’s a good chance the business you’ve worked so hard to build could be considered marital property…
Getting paid under the table can feel like a win-win situation. After all, with no record of your income, you’re not responsible for paying taxes on it—and neither is your employer—right? The problem is, somebody is losing in this situation:…
If you ever search sales tax rules for your state and profession, you’ll probably see a whole lot of “check with your state” and “ask an accountant.” This is due to the fact that every state has different sales tax…
The IRS will issue most refunds in less than 21 calendar days. Even though the IRS will issue most refunds in less than 21 days, it’s possible that your refund has been delayed because it is stuck in processing. There…
An IRS tax return transcript shows most line items including your adjusted gross income from an original tax return (Form 1040, 1040A or 1040EZ) as filed, along with any forms and schedules. Your tax transcript is only available for the…
Let’s just be straight about it—we all want to save money on our taxes. Anything that allows hard-working creatives, small business owners, and generally awesome individuals to (legally) keep more of their hard-earned cash is a huge win. While most…