A Simple Guide To Help Your Law Firm Find the Best Accounting Services Introduction Every law firm needs a top-notch accounting and bookkeeping system to keep their records tidy and up-to-date. There are dozens of bookkeeping firms out there, so how does your law firm find the best one? Here are 6 Tips To Help You During Your Search... continue reading →
Fresh Start Program Can Get You Right With The IRS Thousands of American today live in deep anxiety because they owe money to the IRS and can’t pay. Others have gotten behind on filing tax returns for several years but are afraid to get caught up. Some know they are in arrears with taxes, but they just pray... continue reading →
There are a number of considerations that go into a successful business venture, top among them being appropriate bookkeeping. Depending on the size of your business, processing paperwork for your transactions is a vital part of the accounting process, and it’s where bookkeeping comes into play. But instead of doing it yourself or having an in-house team, why should... continue reading →
Now that your “baby” is all grown up, graduated from high school, and packing up to leave for the first semester at college, how does your tax household look like? Do you continue to claim him or her as your dependent? Or does your college student child file their own tax return as a single person? The following article... continue reading →
In this age of outsourcing the help we need, it’s good to know we can get a trained professional to file our taxes—whether it’s for personal or small business needs. However, choosing the right tax preparer is key. Here are ten things to look out for when you make that choice: “Credentials, credentials, credentials” 1. Look for tax preparation... continue reading →
Support Your Community If you are expecting this blog to be about marketing our company, then you are sadly mistaken. This blog is about supporting your community. And that means we are going to talk about supporting your local non-profits, where many hands can do more. In challenging times like these are less advantaged taxpayers may need a hand-up.... continue reading →
It may prohibit your ability to travel abroad, if you have seriously delinquent tax debt. This is based on information obtained from IRS data. In 2011, the Government Accountability Office determined that by using passports to its advantage, it could actually get nearly $66 billion from unpaid taxes. Almost 225,000 taxpayers could be affected. Congress was called upon to... continue reading →
Most professional tax preparers use computer tax software to prepare tax returns. Some of these software packages are good, others not so much. Most of the good programs will help red flag deduction that might prompt an IRS audit on a client income tax return. Even so, there is no replacement for experience and common sense. Most audit red... continue reading →
Employers that retain payroll services should be advised of IRS regulations, and changes, as they relate to payroll service companies. The Treasury Inspector General for Tax Administration (TIGTA) recently sent a report to the IRS, citing improvements needed to safeguard and protect employers that use payroll providers. A TIGTA Audit Report No. 2015-40-023 states, Processes Are Needed to Link Third-Party... continue reading →
You can face serious consequences if you do not know the difference between an employee and an independent contractor. It could cause you to unknowingly misclassify your workers. Business & Financial Solutions has educated companies and employees on the issues affecting both sides of the working relationship. We have helped prevent and/or solve problems with IRS. Form SS-8 is used... continue reading →
