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Is it Really the IRS Calling?

Many taxpayers have encountered individuals impersonating IRS officials – in person, over the telephone and via email. Don’t get scammed. We want you to understand how and when the IRS contacts taxpayers and help you determine whether a contact you may have received...

QuickBooks upcoming price changes

QuickBooks upcoming price changes are listed below. 1. QuickBooks Online Plus 2. QuickBooks Desktop Payroll These price changes will enable us to invest in the further development of QuickBooks to meet the needs of accounting professionals and the business clients...

IRS. Private Debt Collection

The IRS began a new private collection program of certain overdue federal tax debts selecting four contractors to implement it. The IRS will always notify a taxpayer before transferring their account to a private collection agency (PCA). First, the IRS will send a...

IRS: Home Office Deduction Often Overlooked by Small Business Owners

IR-2017-96, May 5, 2017                                                                                     WASHINGTON — The Internal Revenue Service today reminded small business owners who work from a home office that there are two options for claiming the Home...

Spring 2017 Statistics of Income Bulletin

WASHINGTON — The Internal Revenue Service today announced that the Spring 2017 Statistics of Income Bulletin is now available on IRS.gov. The Statistics of Income (SOI) Division produces the online Bulletin quarterly, providing the most recent data available from...

Drove for Uber? Rented Out Your Home? Here Are Some Tax Tips

If you're driving for Uber or renting out a room through Airbnb to make some extra cash, don't forget — you likely need to pay taxes on what you earned, even if it's a part-time gig. Unlike full-time jobs, where taxes are automatically withheld from every paycheck,...

Hobby or Business? IRS Offers Tips to Decide.

Question: How do you distinguish between a business and a hobby? Answer:In making the distinction between a hobby or business activity, take into account all facts and circumstances with respect to the activity. No one factor alone is decisive. You must generally...

Avoiding QuickBooks Scams Online by Jessica Sturzen

QuickBooks is such an invaluable tool in my world and for many of our clients. It’s a wonderful and powerful program when used correctly, which is why so many people turn to the software to help with one of the most important parts of their business: bookkeeping. I...

1099 Filing Requirements and Late Penalties by Jessica Sturzen

As a business or rental owner, you are required to send 1099-Misc. forms to individuals and businesses for services they provided, if the total comes to $600 or more for the year. The $600 limit is per year, not per job. These services provided to you can include...

Financial Spring Cleaning: What To Keep & What To Toss After Tax Day

When it comes to taxes, many taxpayers are hesitant to throw away even the tiniest scrap of paper. It's true that the Internal Revenue Service (IRS) wants you to hang onto your important tax records. But that doesn't mean that you have to keep your tax records...