Money

Taxing Times

    Teaching Kids About Managing Their Money

    By Cary Siegel

    The following are every dad’s three “must teach” principles in personal money management.

    Why You Should Not Fear an IRS Audit

    The Fear of the Unknown Will Play a Huge Role in How You React

    Stay calm. There are a variety of reasons why your returns might be reviewed.

    You think you’ve done everything right, submitted your tax returns on time, worked closely with your accountant, and kept track of your expenses all year, and then suddenly, you find yourself in receipt of a notice from the Internal Revenue Service (IRS) or State Taxing Authority… Something is wrong. Your tax return is being reviewed. First thing you must do is stay calm.

    Use Tax Season to Organize for the Future

    Financial planner Rick Rodgers, author of The New Three-Legged Stool: A Tax Efficient Approach To Retirement Planning (www.TheNewThreeLeggedStool.com), says tax time is a great time to get organized. He suggests these five steps to help you effectively organize your finances

    Organize your finances with five steps.

     

    2013 Tax Resolutions

    Get an Early Start on Tax Season

    By Sharon Lechter

    "It’s not too early to look ahead to tax season to consider steps you can take now to make that often dreaded deadline a bit easier."

    You read that right. As one year comes to an end and another begins, people often look to make changes in every aspect of their lives — especially finances. So now is a good time to think about taxes.

    Additional Tax Assistance Options for Your Business

     

    If you would like to get the advantages of having a professional do your taxes, but you feel you cannot afford it, there are still options.

    Taxing Times. Have You Filed?

     

    Simple Steps You Can Take To Avoid A Tax Audit
    Even If You Haven’t Filed Your Taxes

    By Lance E. Rothenberg

    You did it. You gathered the courage and started your business. You set up your home office and purchased advertising.  You worked your contacts and negotiated a healthy roster of accounts. Your hard work has paid off, and the revenue is coming in; so much so that you hired staff. You made it as an entrepreneur, and you should be congratulated! Now imagine this scenario: It’s late May and you haven’t filed your individual income tax returns. Maybe you haven’t filed for a year or two (or more!).
     

    Which Tax Group Do You Belong To?

    No Taxes Nate, Accidentally Profitable Alex, or Eddie the Enduring Entrepreneur?
    By Greg Crabtree

    I would classify entrepreneurs into three groups when it comes to taxes:

    The Psychology of Taxes on Entrepreneurs

     

     

    Are you a No Taxes, No Way Nate, or an Eddie the Enduring Entrepreneur?

    By Greg Crabtree

    As an accountant, I have a unique vantage point to observe how entrepreneurs change their decisions based on tax policy.  My focus as a business advisor is making businesses more profitable first, then dealing with the tax implications of profit. As much as I would like to focus on profit, I regularly have to “reprogram” the entrepreneur’s thinking on taxes. 

    What Can You Tax Deduct When You Work from Home?

    What You Can Deduct On Your Taxes!
    By Tariq Shafi
     
    According to the U.S. Census Bureau, roughly 5.9 million people work at home throughout the country. With this becoming such a popular option, and April 15th fast approaching, it is a good idea to know what you can deduct on your taxes.

    Tax Cuts

    Don't Miss Taking These Tax Deductions for 2009
    By Jan Zobel, EA

    As 2009 came to a close, Congress continued to debate further tax law changes even after approving several new tax bills during the year. Most of the provisions in the new bills affect personal, rather than business, deductions. It’s important to keep informed about any changes that could affect your business tax liability but don’t forget about the old stand-by business deductions, most of which haven’t changed.

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