Category Archives: Record Keeping

Keep Track of Meal & Entertainment Expenses

When looking for deductions to add to your taxes, don’t overlook your meal and entertainment expenses. These types of expenses must be “ordinary” and “necessary” to your business or trade and must be “directly related to” or “associated with” the … Continue reading

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Benefits of an Outsourced CFO

Over the past few years, the world’s economies have been like a roller coaster ride. The same may be said for your company—one minute you’re up, the next you’re down. Between cost concerns, the U.S. economy’s instability, and internal staffing … Continue reading

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Organizing your tax records now can really help come 2013.

If the sweltering dog days of summer aren’t incentive enough to get out of the sun for awhile, the IRS suggests another reason to head indoors: organizing your tax records. Devoting some time mid-year to putting your tax-related documents in … Continue reading

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Eight tips for deductible charitable contributions

Donations made to qualified organizations may help reduce the amount of tax you pay. The IRS has eight essential tips to help ensure your contributions pay off on your tax return. 1. If your goal is a legitimate tax deduction, … Continue reading

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Notify the IRS when you change your address

Here’s a question you might not expect to hear from your accountant: What’s your last known address? Your answer could have tax consequences. Why? For purposes of most IRS correspondence, your last known address is the one on your last … Continue reading

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Are you thinking about starting a business??

In this economy many people are realizing the benefits of being your own boss.  I can attest to the fact that owning your own business is awesome, no worries of getting laid off, the flexibility to get your work done … Continue reading

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Ever wonder…What if I receive unemployment compensation?

Unemployment compensation you received under the unemployment compensation laws of the United States or of a state must be included in your income. It is taxable income. If you received unemployment compensation, you should receive Form 1099-G showing the amount … Continue reading

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