Properly Documenting Business Expenses
Everyone in business must keep records. Among other things, good records will help a business prepare the business tax returns, and will support items reported on tax returns. Taxpayers also must keep their business records available for inspection by the IRS.
In order to claim any deduction, a business owner, like any taxpayer, […]
New ACA Forms Debut for 2016 Filing Season
As the 2016 filing season gets underway, many individuals will be receiving new information returns from their employers and/or health insurance providers. The information returns reflect new reporting requirements put in place by the Affordable Care Act. Some taxpayers will need to wait to file their returns until […]
Avoiding Tax-Related Identity Theft
In recent years, identity theft has mushroomed and as the filing season starts, tax-related identity theft is especially prevalent. Identity thieves typically file fraudulent returns early in the filing season, before unsuspecting taxpayers use a tax preparer to file their legitimate returns. Criminals gamble that the IRS will not detect the false […]