Business & Financial Solutions is a professional firm and our goal is to simplify your life. To assist in our goals we have comprised a list of common assumptions that lead too costly tax mistakes when filing income taxes. Tax mistakes can mean much more than just a computation error. The tax code is long and complex, so it’s... continue reading →
It may be better to owe taxes in April than to get a refund, and for the 2017 tax filing season, it’s especially important. There will be a holdup on refunds, for income tax filing this year. The Internal Revenue Service today issued a warning of 2017 tax refund delays for certain taxpayers. They urge folks to adjust their... continue reading →
Business & Financial Solutions has been preparing taxes and helping individuals and businesses for over 16 years. We resolve IRS tax problems for clients throughout the United States. Our firm employs licensed tax preparers, enrolled agents and CPAs. Additionally, our employees are duly qualified to represent business and individual when dealing with the IRS. We also assist you with... continue reading →
Innocent Spouse Relief from Tax Debt Owed When a marriage has problems, finances are almost always at the top of the list as contributing factors. This blog refers to finances particularly, where spouses file a joint tax return, which the both sign as taxpayers. If the information provided on the tax return is false or inaccurate, the IRS has... continue reading →
Successful entrepreneurs are those who “dream during the day with their eyes wide open.” They take risks, work long hours, make important sacrifices for their goals. They also turn obstacles into opportunities. And small businesses have to deal with small business taxes. Yet, it is important that business owners make good decisions, based on a well thought out plan... continue reading →
The Financial Accounting Standards Board (FASB) recently issued new guidance that standardizes when and how every type of company must recognize revenue. The guidance is found in Accounting Standards Update (ASU) No. 2014-09. It relates to Revenue from Contracts with Customers. Further, it supersedes existing revenue recognition rules and makes significant changes to the rules for accounting for real... continue reading →
Ever the specter of governments presence looms over the hapless head of those who find themselves owing back taxes. Worse still, is the plight of the innumerable Americans who also face penalties and interest. In a time of fear and uncertainty, Business and Financial Solutions, has risen up in popularity and notoriety as a reliable firm in the Vienna,... continue reading →
When it comes to your personal finances (or your business), who does your taxes? Is it a specialized tax preparer? Is it a piece of software? Maybe it’s a friend who likes spreadsheets? If the answer to any of these is yes, be careful! There may not necessarily be a problem with any of these options. But depending on... continue reading →
If you’ve noticed, that the IRS hasn’t been exactly easy to work with this year. If you are having tax problems with the IRS, even by IRS standards, you’re in good company. The number of individuals and companies that have had to navigate through the IRS is high. It has become extraordinarily difficult. And tax complications for their 2015... continue reading →
Don’t come up short on at the end of the year. You should hire bookkeeping professionals, accompanied by accountants. Here at BFS, our analysts have examined a microcosm of the Northern Virginia area: including places like Vienna, Sterling, and Herndon—all within the larger Washington DC metro area. There are commonalities we’ve found among cities in this area. Most cities... continue reading →
