CERTIFIED PUBLIC ACCOUNTANT
There are many who wonder, what happens if I do not file a tax return with the IRS? Many wait to see what occurs but, in reality there are many consequences that can occur if a tax return is not filed with the IRS. The IRS begins by detecting if... Continue reading →
As economic conditions fluctuate, many individuals are considering choosing to become an entrepreneur instead of simply looking for another job. As an entrepreneur it is important to see that there is more than simply starting a business and collecting revenues. If you do not account for your revenues, inventory, and... Continue reading →
There are six main components to an accounting information system. Those who understand these components and implement the system properly will do it only once. Those that attempt to take shortcuts end up redoing the process. The components include: • The users of the system • The instructions and procedures... Continue reading →
In some situations, employees are able to deduct their work-related expenses as itemized deductions. There are limitations on employee business expense deductions, and you will need to follow all requirements. What Qualifies? Some of those that you may be able to claim include the following: Transportation expenses that are incurred... Continue reading →
You usually have two choices on your tax return: Itemize: You can either choose to list your specific, “itemized” deductions to reduce your taxable income, or Take a standard deduction (a set, minimum amount.) This amount depends on your filing status, and will be larger if you, or your spouse,... Continue reading →
