Most business owners don’t enjoy bookkeeping or accounting. Yet they carry on because they have a do-it-yourself (DIY) attitude and think hiring an accountant is a luxury. After all, why not work a little later and do the books yourself? However, here are some...
As certified public accountants, we know all too well the pain and pressure of tax season. Every year, businesses scramble to gather their financial information, search for deductions, and ensure everything is in order for the IRS. But did you know that starting your...
It’s that time of year when most people are thinking about gift-giving. From Black Friday (the day after Thanksgiving) to the end of the year, we give our families monetary gifts, our employees bonuses, or make charitable donations. Here are five tips for being...
As our loved ones head back to school at all levels, it’s hard not to think about money. The cost of supplies, books, tuition, and transportation are among the few (but hefty) costs incurred this time of year by a typical family in the United States. With tax...
An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service (IRS) to settle a taxpayer’s tax liabilities for less than the total amount owed. The taxpayers who can fully pay the liabilities through an installment agreement or...
The Taxpayer Advocate released their report on the state of the IRS, National Taxpayer Advocate 2021 Annual Report to Congress. You may find that this is an interesting read. Many of the forms required to complete the 2021 Income tax returns for small...
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