When you start a business, a key to your success is to know your tax obligations. You may not only need to know about income tax rules, but also about payroll tax rules. Here are five IRS tax tips that can help you get your business off to a good start. Read More Now
The IRS issued the inflation-adjusted figures for calendar year 2017 for the annual contribution limits for health savings accounts (HSAs) and the minimum deductible amounts and maximum out-of-pocket expense amounts for high-deductible health plans … READ MORE NOW
What should you do when you suspect fraud? Play this one minute video to find out.
Many small business owners who received tax refunds plan to invest the money in their businesses, according to a new survey. Read More Now
Method that records greater DEPRECIATION than STRAIGHT-LINE DEPRECIATION in the early years and less depreciation than straight-line in the later years of an ASSET’S HOLDING PERIOD.
The Internal Revenue Service’s expanded use of controls this tax season to identify fraudulent refund claims before accepting them into its processing system has allowed the IRS to identify approximately 35,000 fraudulent e-filed tax returns and 741 paper tax returns as of Feb. 29, 2016, according to a new government report. Read More Now
Monday, April 18, was the tax deadline for most people in 2016. If you didn’t file a tax return or an extension to file but should have, take action now. If you missed the tax filing deadline… READ MORE NOW
The reduction of INVENTORY levels at year’s end below beginning-of-the-year levels for businesses using the LAST IN, FIRST OUT (LIFO) inventory method.
Splurging on a new iPad or subscription to GlossyBox might be tempting when your tax refund shows up. But before you start hitting the buy button, consider using some of the money to protect what you already have. READ MORE NOW
ACCOUNTING method that reflects an equal amount of wear and tear during each period of an ASSET’S useful life. For instance, the annual STRAIGHT-LINE DEPRECIATION of a $2,500 asset expected to last five years is $500.