A certain percentage of the taxpayers in the United States are required to pay the alternative minimum tax, or AMT. If you meet the criteria for this, it's a good idea to seek out the services of an experienced tax accountant. AMT generally makes your taxes more complicated, so a professional's help is often needed.
An enrolled agent can execute consents to extend the statutory period for assessment or collection, execute closing agreements, or execute waivers of restriction on assessment or collection of deficiency in tax. Un-enrolled agents cannot. For serious tax preparation and representation, contact our professional tax specialists.
It’s important to remember that even a relatively simple tax return can still require more calculations and hours to complete than you may estimate. Let’s talk about how we can help you ensure the IRS has your return by the deadline.
According to Business News Daily, the best free accounting software for small business is Wave Accounting. This free, cloud-based accounting software offers small business all the bells and whistles without a monthly fee. http://www.businessnewsdaily.com/7543-best-accounting-software.html#sthash.poFW2KPk.dpuf
When planning for your business taxes, it’s important to remember that a dollar spent does not equal a dollar’s worth of tax savings. Depending on your tax bracket and business structure, that dollar deduction will only translate to up to sixty cents in savings.
Enrolled agents are able to advise, represent, and prepare tax returns for individuals, partnerships, corporations, estates, trusts, and any other entities with tax reporting obligations. They can help to ensure that all obligations are met in line with the latest tax laws.
It’s very important to remember that tax day isn’t just a suggestion; it’s a deadline. Even if you don’t have the money to pay your full tax bill, it’s critical that you file on time so that you can avoid the late filing penalty.
While many business owners and managers are more than capable of handling their tax preparation, it’s not always the most efficient use of company resources. Call on us when you need an expert handling your taxes.
Taking the standard deduction is certainly more convenient, but itemizing your deductions may save you more money in the long run. Which do you prefer to do when filing your income taxes?
One of the benefits of hiring a business accounting service is that they can put you in touch with other similar small businesses! This can help you to expand your business; by getting in touch with still more clientele you can increase revenue through greater sales.
What are the two routes to becoming an Enrolled Agent? To be able to practice as an Enrolled Agent, a person must have either worked for the IRS for at least 5 years or passed the Special Enrollment Examination which includes questions about tax codes for a variety of applications.
Are you aware of the fact that giving a large gift to someone can lead to a tax consequence? There are several other possibilities that may require you to redo your calculations.
Did you know that usually, IRS processes any refund within 21 days? A delay may, however, occurs in case if the forms are incomplete or have some errors in it. The refund may be blocked in case of theft case.
Did you know that CPAs don’t necessarily specialize in tax preparation and related issues? When you need to ensure that your taxes are prepared by a true specialist, it’s often a good idea to work with an enrolled agent.
National statistics show that approximately 50 percent of all small companies are out of business within four years. Relying on the advice of an expert, such as an accountant, can increase the odds that you will have a successful business.
Do you know that VAT is one of the most challenging taxes? VAT is something that you have collecting on the Government’s behalf and you are bound to pay it back to the Government.
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