Our CPA firm performs a variety of audit services. They include year-end, forensic, internal, and fraud audits. We also perform annual audits for a variety of industries. This time of the year, many businesses, non-profits, and associations look to Business & Financial Solutions with assistance. And we help them with annual and fiscal year-end audits. These services are often... continue reading →
You can fix tax return errors by filing Form 1040X, “Amended U.S. Individual Tax Return.” An error on a return may not become evident for some time. Or you might simply put off preparing and submitting the amended return. Those delays could cost you. Because you can lose a refund or end up paying extra penalties and interest to... continue reading →
Business & Financial Solutions is the only stop that you need to make in getting your new company up and running. So should be your next destination if you have a business idea. If you want to start a business it requires working with both the state and your local governments. In fact, our accountants and consultants will assist... continue reading →
Tax returns for corporations are due on March 15th of each year. Whereas the deadline for individual and partnership tax returns due on April 15th. In filing business income tax returns, you will need to account for all your income and expenses. But the process generally goes much smoother if you have kept track of your business income and expenses... continue reading →
Will Affordable Care Act Affect Income Tax Returns? Business & Financial Solutions’ tax experts are available to help clients understand how the ACA might affect filing income tax returns. While this is a significant vehicle for generating revenue for the federal government, there may be tax challenges. But the tax ramifications do not concern the greatest part of American taxpayers. Still,... continue reading →
Problems With the IRS and Back Taxes An IRS Garnishment and back taxes can result in huge problems. The Internal Revenue Service (IRS), like most creditors, has the power to garnish your wages. And this is not the problem you want. Yet, this could be the end result if you owe a tax debt to the IRS. You see,... continue reading →
As you approach the end of the year, you are also approaching the final stage of any tax planning. And you will want to avoid over-taxation on your business as best as you can. Therefore it will be necessary to get your bookkeeping in order. And this can help you prevent overpaying taxes. Efficient year-end bookkeeping services become the... continue reading →
Business & Financial Solutions If you are interested in starting a non-profit you should consider the advantages and disadvantages! Non-profits are federally tax-exempt organizations, set up under Section 501(c) (3) of the IRS code. And this is why many times such organizations are simply referred to as a 501(c) (3). 501(c) (3) recognition is granted after meeting the criteria set... continue reading →
Young Adults & Taxes “Sometimes teens go out and work as technical employees, but are paid as contractors,” says Sharon Lechter. Sharon is a CPA in Paradise Valley, Arizona. And she is a former member of the inaugural President’s Advisory Council on Financial Literacy. “So make sure the employer classifies you correctly.” Hopefully, you will see how an incorrect classification... continue reading →
Dealing With the IRS Finding the right IRS Audit representation is not always easy. Yet, navigating the tax laws alone is never an option that a private citizen or business should undertake. And this is especially true in the event of an audit or delinquency. Good tax professionals are prepared to assist in taking on the tax system. Most professional... continue reading →