You can’t avoid the IRS. Maybe you procrastinated, can’t find paperwork, or lost track of time. Regardless, the IRS does not care why you haven’t filed. But, they do need to know you intend to. So, if you think you won’t make the deadline, you’ll first need to file an extension. We’ve outlined everything you [...]
Maintaining a tax exemption status can be tricky. Did you know there are 27 different types of nonprofit designations in the federal tax code? That’s a lot of designations! And, knowing what (or if) these matter to your business can be hard. That’s why we’re here to help. We understand that tax requirements are complicated [...]
Even if you leave the U.S your tax responsibilities follow. Working or living somewhere other than the U.S? If so, it doesn’t mean you can escape U.S taxes. But, there’s good news. Filing your taxes in another country is actually pretty straightforward. We’ve taken the time to outline some of the most important bookkeeping tips [...]
Being self-employed is difficult when it comes to taxes. Every freelance, part-time, and contract- worker needs to pay taxes. But, being self-employed has unique tax challenges. Everything from deductions to business expenses, record-keeping, and more need to be accounted for. At A.P Accounting & Tax Services, we understand that being your own boss is tricky [...]
Estate liquidity planning doesn’t need to be difficult. Whether it’s unsettled business interests, a passed-on mortgage, or unaccounted tax; poor estate planning can impact you. But there are ways to navigate it. That’s why we’ve come with some helpful tips for estate planning. When to Consider an Estate Sale The most common liquidation scenario happens [...]
Are you late on your return? What happens if you don’t file your taxes? Well, delinquent returns, unpaid taxes, and unfiled reports will all get you in trouble with the law. Everything from hefty fines, audits, fees, and even persecution could occur. That’s why we’ve outlined what to expect from filing late below. It’s Costing [...]
Do you know what designation is right for your business? When it comes to business, the most common designation is the C corporation. But, this doesn’t necessarily mean it’s right for you. To make the right choice for your business you must go deeper than that. That’s why we’ve outlined some of the key differences [...]
Have you thought of your post-mortem financial plans? Many choose to ignore the topic of post-mortem planning. But, without it, you (or your estate) could be liable for a huge tax bill. That’s why tackling this issue while you’re still alive is critical. After all, the more decisions you’ll make now the less action your [...]
Cash is king when it comes to business. How can you expect to pay bills, debts, operation costs, and expansions without a healthy cash flow? As a small business owner, you can’t. Despite this, we often see owners struggling to manage. Typically, it’s because of inconsistencies with tracking, analyzing, and implementing a budget. That’s why [...]
Tax audits should not be feared. There are tons of misconceptions about audits. But, tax audits don’t need to be scary. Even if you’re a small business owner or do-it-yourselfer; most concerns are unfounded. That’s why we’ve busted 5 myths about them below. 1. Late or Amended Filings Will Mean an Audit Even if you [...]
