Receiving an audit notice in the mail can spark concern. But, simply ignoring the letter can have dangerous consequences. Although there are many reasons why you might have been selected, being unprepared when dealing with the IRS can be devastating. From seized assets to high interest rates and even jail time; the IRS can ruin [...]
There are many misconceptions amongst freelance workers when it comes to paying taxes. One of the most common misconceptions is that they do not need to pay quarterly estimates. But, buying into this myth can have serious consequences. That’s because, all money that is made by workers should be declared, monitored and submitted to the [...]
Commingling your personal and business accounts is a serious flaw in your bookkeeping system. And it can result in very serious financial problems. That's why we call it the king of bookkeeping errors. We cannot overemphasize this point. Some of the resulting problems really can result in dire consequences. In our previous blog, A.P. Accounting and [...]
Mistakes in your business accounting or flawed record keeping can be very costly and destructive. Our first and best advice to business owners is to seek out qualified accountants to keep your records. Accounting methods are not a mystery. However, quality accounting and record keeping does require extensive education and training. For Do It Yourself [...]
Today we interrupt our usual financial, tax and accounting topics. And instead, we bring you Independence Day comments, safety alerts, and statistics. July Fourth is a fine time for celebration. We know you will cherish the memories you make with family, friends, and fun over this patriotic Holiday. It’s a thrilling, grilling, fun time for picnics, [...]
Online shopping has progressed quickly from a unique buying experience. And it has become an almost daily activity in American family life. Few would dispute that online business has completely changed the way the landscape of our national economy. Online Shopping Shapes the Power of the Internet and Vice Versa Online or in Life, [...]
For the first time in a decade, Hedge funds win and top Equities. Every Super Bowl has stars and a winner. The winning superstars get bonuses and Rings of Glory. Hedge funds and equities, play the financial game. This game doesn’t have quite as many spectators. And the big win may not receive quite so [...]
Did you know Health Savings Accounts should be on your mind this month? Changes In Health Savings Accounts: Plan Ahead Have you Started Your Two Year Plan on Health Savings Plans? There is a reason Health Savings Accounts should be on your mind at this time. And that reason is that the Internal [...]
Bookkeeping strategies, tips and a little tax planning can greatly decrease the painful stress many taxpayers endure during tax season. In our previous blog, we opened the topic of the stress caused by tax season, and how to alleviate it. Better bookkeeping and a new mindset for a financial organization were the heart of that blog [...]
We are still hearing sighs of relief that tax season 2017 is over. “Now we all look forward to a Stress-free 2018 Tax Season,” said no person ever! Unlike many of our blogs, this article is going back to basics, to some simple planning precepts. Some of them, you may already know and follow. However, every [...]
