By Stacey Gorowitz, CPA, MBA Although the IRS officially repealed the onerous expanded information reporting requirements for payments made to corporations, the stakes are higher with enhanced penalties for failing to file 1099s when required. Here’s a brief summary explaining when and to whom you do need to file Form 1099 for 2013: When: 1099s are required […]
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By Stacey Gorowitz, CPA, MBA It’s time to reveal the long-awaited IRS standard mileage rates for 2014. And they are (drumroll, please): 56 cents per mile for the optional business standard mileage rate 23.5 cents per mile for qualified medical and moving expenses 14 cents per each mile driven for charitable purposes Let the celebrations begin!
By Candace Spencer, CPA & Certified QuickBooks ProAdvisor QuickBooks is by far the most widely used accounting software for small businesses and individuals. Each year Intuit releases a new QuickBooks’ edition with additional improvements, enhancements and let’s not forget…some really cool features. This article will provide you with the tools to decide whether it’s time
Did you pay a lot in state taxes this year? You can potentially save 10% or more. Sounds like one of those too good to be true commercials, doesn’t it? The majority of my blogs try to dissuade tax myths and educate business owners and individual taxpayers on some of the nuances of tax law,
By Stacey Gorowitz, CPA, MBA In March 1913, Form 1040 as we know it today was first issued for income tax reporting. Here’s a basic 1040 income tax return history from the Library of Congress: “The origin of the income tax on individuals is generally cited as the passage of the 16th Amendment, passed by Congress
I get a lot of questions this time of year. They come from clients, from friends, from the cleaning crew at the office, and from my mechanic. I don’t mind; I actually enjoy what I do and consider educating the taxpaying public part of my job. I get excited when I get to talk about