IRS Wants Businesses to E-file Cash Transaction Reports; It’s Quick, Simple and Free You can now e-file cash transaction reports, and the IRS wants you to do it. Did you know that you have to file large transactions over $10,000 with the IRS? And now, The Internal Revenue Service wants businesses to e-file reports that […]
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Who is Responsible for Massachusetts Tax Filing
Massachusetts tax filing applies for those who work in Massachusetts Did you work in Massachusetts last year? Massachusetts tax filing applies to you. Therefore, you must file a Massachusetts income tax return on all gross income $8000 or more. Income can be from a job you hold, interest earned on savings, social security, winnings from […]
How to Select a Tax Expert, Avoid Dishonest Tax Preparers
When you select a tax expert, do you know what to look for to protect you? It’s tax time again, and you have to select a tax expert. As a taxpayer, you need to choose the right tax preparer to help file your IRS and state return. Protect yourself, protect your business and choose wisely! […]
Landlords Do You Collect W-9s?
Landlords a 1099 applies to you! Do you collect W-9s from contractors? Well did you collect W-9s from those contractors? Did you know that services over $600 threshold require that you do? When you use independent contractors to perform services for your business, for each individual whom you pay $600 or more for the year, the IRS […]
7 Tax Prep Tips for Everyone
These Tax Prep Tips Helps Everyone get over the Agony of Tax Season It amazes us how tax preparation is one of those things people hold off until the last minute. Why? I can understand if you owe money, but why run the risk of paying a penalty? And, let’s say you overpaid the IRS […]
7 Ways Small Business Owners Save Money On Taxes Legally
Everybody wants to save money on taxes legally. To lower the amount you pay in taxes is an especially important goal for small business owners. After all, to avoid paying every penny in taxes is a double victory: you avoid overpaying and add to your bottom line. Here we list seven tips to use to spot […]