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When you need to travel for business, it can be difficult to determine which expenses you can claim on your taxes. It’s important to do your research by checking out the official IRS website for rules and guidelines, but you… Read More
Archive for the ‘The IRS’ Category
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Why Is Bookkeeping Important?
Bookkeeping, the act of keeping financial records pertaining to your business, is a critical component of a successful business. Having organized and well-kept financial records will give your business an edge in many different ways. Whether you do it yourself… Read More
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2 Ways You Can Avoid Penalties from the IRS
Tax Day 2022 returns its original April 15th deadline. While that seems like it’s ages away, it’s a good idea to stay on top of your finances. Falling behind on tax payments (or even worse – outright dodging the taxes… Read More
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3 Frequently-Asked Questions About How an IRS Audit Works
Being audited by the Internal Revenue Service is never a pleasant prospect. Although it’s rare, it can still happen. Doing your due diligence can help avoid this situation. That way, you’ll be able to steer clear of any harsh consequences,… Read More
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The IRS is Revising Its Tax Deadline for This Year
Great news! The IRS is once again changing its tax deadline. Much like last year, the ongoing COVID-19 pandemic disrupts life as we knew it before. The Internal Revenue Service has acted swiftly to ease the concerns of all taxpayers…. Read More
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Pointers for Avoiding Harsh IRS Penalties
For most people, the IRS is a confusing and frightening government entity. In fact, many people are unaware of how taxes and the IRS ultimately work. But, it doesn’t have to be such a big, scary beast. While the IRS… Read More
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IRS Questions: Crypto Tax And How to Report It for Your Clients
When it comes to crypto taxes, understanding the nuances associated with them becomes increasingly important. In fact, properly accounting for any crypto taxes can make a huge difference for your clients. As a result, thoroughly understanding how to properly report… Read More
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3 Red Flags the IRS is Looking for in Your Audit
The IRS usually conducts audits through a random statistical formula, meaning that you should always be ready to be evaluated. If you’re managing your finances correctly and efficiently, you have nothing to worry about; the IRS will contact you by… Read More