by Tiffany Mellow | Feb 21, 2018 | Business Tax Deductions, Business Taxes, Personal Tax Deductions, Personal Taxes
A deduction is available for money an employee spends to perform their duties in the course of their employment if they are unreimbursed by their employer. This includes mileage, licenses, union dues, education and out of pocket expenses. The expenses must be incurred...
by Tiffany Mellow | Feb 5, 2018 | Business Taxes, Non-Profit Taxes, Personal Taxes
Deceitful communications come via phone, email, postal mail, and sometimes even a knock on your door. It’s important to know that the IRS does occasionally contact taxpayers, but when they do, it’s most often by mail. Sometimes the IRS needs to verify a taxpayer’s...
by Tiffany Mellow | Jan 29, 2018 | 1099's, Business Accounting, Business Taxes
A Form 1099 Misc should be filed for every unincorporated vendor or contractor who you paid $600 or more during the calendar year 2017. The amounts to be reported are for services only. If you paid someone for products and services, only the labor charges are to be...
by Tiffany Mellow | Jan 22, 2018 | Business Accounting, Business Taxes, Payroll, W-2's
The due date for filing your form W2’s with the Social Security Administration is January 31, 2018. Extensions to file these forms are much more difficult to get this year. The IRS is only granting extensions in cases of extreme hardship or uncontrollable...
by Tiffany Mellow | Jan 15, 2018 | Business Accounting, Business Taxes
The Schedule C for an unincorporated business and the Schedule F for farming activities are the forms MOST AUDITED by the IRS! The IRS has published the following list of issues they scrutinize when auditing the Schedule C and the Schedule F: Lack of record keeping...
by Tiffany Mellow | Sep 22, 2017 | Bookkeeping, Business Taxes
Technology can be helpful when it comes to bookkeeping! There are many new gadgets and applications on the market that assist with tracking business expenses. While these “apps” eliminate paper, they do not eliminate the need to provide your tax preparer with the...
