How State Income Tax Can Follow You Even After You Move
Welcome to Florida! You can now enjoy the benefits of living in a state with no state income tax. But don’t put your checkbook away just yet. In certain situations,…
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Can a Calculation Engagement be Used in Litigation?
When a business owner needs to determine the value of a business, two options are available: a valuation engagement or a calculation engagement. A calculation engagement is more limited in…
How Does the IRS Work? Part 1: The Taxpayer Advocate Service
The Taxpayer Advocate Service (TAS) is an independent organization within the IRS, originally created in 1979. Since then, legislation has expanded the rights, responsibilities, and duties of this organization. The…
Retirement Plan Options for Small Businesses
One of the benefits of owning your own business is the ability to select the type of retirement plan that is right for you and your employees. Below is a…
The Risks for Not Paying Your Payroll Taxes On Time
It’s common knowledge that the IRS is understaffed and lacks the resources to effectively assess and collect all taxes owed. But when it comes to payroll taxes, don’t underestimate the…
What Receipts Do You Need to Keep for Your Tax Return?
In the event of an IRS audit, you need to provide documentation for your deductible expenses. Some people keep the receipts, while others keep credit card statements. So what exactly…