SUBSCRIBE TO OUR BLOG

Filing Tips & Deadlines | Global Tax News | Customer Case Studies

Financial New Year Resolutions

Attempting to get personal or business finances in order, after neglecting them for a period of time, can seem like a daunting process. January is a prime time to make a resolution and create a plan.

Read More »

Is That Horse Tax Deductible?

Misrepresentation or erroneous reporting of tax deductions can quickly lead to an IRS audit. A key component that the IRS will look at if an audit is triggered is the separation of business and personal expenses. Keeping thorough, organized, and accurate records is essential for a taxpayer to protect him or herself from additional and unnecessary tax expenditures.

Read More »

Sorry Academy Award Nominees, Those Swag Bags are Taxable

This year at the 85th Annual Academy Awards, the nominees received swag bags with an estimated fair market value of $168,000. As we celebrate the best of the best for their contributions to cinema in 2014, it should be noted that these swag bags will be taxable as income on the nominees 2015 individual tax return (1040).

Read More »

The Unknown Quantity

The article below makes a great point in regards to the trigger events that begin the clock for the Assessment Statute Expiration Date (ASED), normally three years.

Read More »

Are Bookkeepers Becoming A Thing Of The Past?

The rising cost of bookkeeping makes it prohibitive to staff an individual or even a small team to accomplish this task. Beyond simply the cost, the risk of inaccurate figures or incorrect quarterly tax payments can be distressing to already overworked business owners.

Read More »