The IRS now has a small business portal that provides several instructional videos for small businesses. Topics include, but are not limited to, starting or changing a business, audits, expenses, scams, employer topics, and a small business workshop. Check out the portal . . . → Read More: Visit the IRS Portal for instructional videos for small businesses
|
|||||
|
The Internal Revenue Service announced on September 1, 2011, that it is granting taxpayers whose preparers were affected by Hurricane Irene, a one week extension from September 15th until September 22nd to file returns. The preparer must be located in an area that was under an evacuation order or a severe weather warning, but does not need to be . . . → Read More: IRS Grants One Week Extension for Preparers Located in Areas Affected by Hurricane Irene Welcome to our blog about accounting, bookkeeping, payroll, tax and other issues. Feel free to leave a comment, or ask a question. We moderate comments on a daily basis. Please make your comment specific to the article, to avoid being . . . → Read More: Welcome to Our Blog!  Comments are closed  Accounting & Bookkeeping, Auto, Business Taxes, General, Home Office, Personal Taxes, Small Business, Tax Information Due to the slow response of legislation to either extend or eliminate Bush era tax cuts, many taxpayers will have to wait to e-file their returns. IRS is currently scrambling to update the forms to comply with the recent Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act legislation. Those forms affected include: Schedule A, Itemized Deductions Form 3800, General . . . → Read More: Delays In E-Filing of Tax Returns 13 comments Business Taxes, Personal Taxes, Tax Information  2011, Alternative Vehicle Credits, Bush era tax cuts, Casualties and Thefts, E-File, educator expenses, First Time Homebuyer Credit, Form 4584, Form 5405, Form 8917, General Business Credit, IRS, itemized deductions, Schedule A, tax, Tax Relief, tax return filing, Tuition and Fees Deduction, Unemployment Insurance Reauthorization and Job Creation Act With the passing of the holidays, comes the necessary and dreaded task of preparing yourself and your documentation to report your earnings and deductions to the IRS. We will go into this a little further next month, but I wanted to give you some preliminary tips to help make the process easier. If you paid anyone acting as an independent . . . → Read More: Small Business Primer for Tax Season Leave a comment Accounting & Bookkeeping, Auto, Business Taxes, Home Office, Small Business, Tax Information accounting, accounts payable, accounts receivable, asset, bookkeeping, depreciation, form 1099 misc, home office, independent contractor, inventory, IRS, nonemployee compensation, payroll, prepaid expenses, reconciliation, tax, vehicle, W-9, year end We posted this as a Hot News Flash in a separate newsletter that went out to our readers. I wanted to be sure to include it here on the site, for those of you that don’t subscribe to the newsletter. For tax year 2010 ONLY, you can reduce the amount of self employment tax by the amount . . . → Read More: Time is Running Out-2010 Only Self Employed Tax Savings At Seacoast Accountability, we get asked all the time, “What is the easiest way for me to organize all of those receipts?” I am going to take you through the process of organizing that pile, checking for missed receipts, and how to file it all away so you can find it in the event of an audit. I . . . → Read More: From the Shoe Box to the Tax Return Complete information for taking the Home Office Deduction can be found in IRS Publication 587. The deduction is calculated on Form 8829, which transfers to Schedule C. It should be noted that employees who receive a W-2 may also be eligible to claim a home office as an itemized deduction, however this information is not covered . . . → Read More: Seacoast Accountability’s Small Business Tax Tip-The Home Office Deduction The details for deducting business vehicle expenses can be found in IRS Publication 463. Using most popular tax software programs, a worksheet is used to feed the deductible cost into the Schedule C vehicle expense line. This discussion is a general overview, focused on self-employed individuals that own or have financing on a car that they . . . → Read More: Seacoast Accountability’s Guide to Vehicle Expenses So you got out from under working for somebody else, and now you own the business. You are probably very good at what you do, and enjoy doing what you are good at. Then you begin to think about “the necessary evil” that raises its ugly head-bookkeeping, payroll, taxes and the numerous obligations, deadlines, paperwork and . . . → Read More: Seacoast Accountability Takes a Look at Small Business Tax Misconceptions |
|
||||
|
Copyright © 2012 Seacoast Accountability - All Rights Reserved. Seacoast Accountability | 2 Washington Street, Suite 301-302 | The Picker Building | Dover, NH 03820 | 603-834-1271 |
|||||
Visit Us!