Understanding the Audit Process With the IRS
According to recent studies, the IRS aims to increase small business audits by nearly 50% in the coming years (Weltman, Smallbiztrends)....
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Tax Geaks
- Oct 1
- 2 min
Doing Business in Another State? Accounting and Tax Implications to Be Aware Of
As your business begins to grow, you may find yourself with new accounting and tax implications to work through. Opening another business...
30
Tax Geaks
- Sep 1
- 2 min
How Can a CFO Help Grow Your Business?
Do you have a CFO in your business? If not, now might be the right time to consider adding a CFO position to your team because of the...
30
Tax Geaks
- Aug 1
- 2 min
Stop Treating Your Business Like an ATM
Once that first good year of sales hits, you may be tempted to pull money out of your company; however, this is not always a wise idea....
70
Tax Geaks
- Jul 1
- 2 min
Bookkeeping vs Accounting: Main Differences Explained
Most business owners can’t easily discern the main differences between bookkeeping and accounting; however, both are necessary for...
80
Tax Geaks
- Jun 12
- 2 min
5 Strategies to Improve the Financial Health of Your Business
Economic factors, increased competition, and changing consumer demand are three challenges that small businesses are constantly facing....
140
Tax Geaks
- Jun 11
- 2 min
Best Entity Structure
Starting your own business involves many important decisions, some of which will impact how you go about financial and tax reporting. You...
90
Tax Geaks
- Jun 11
- 2 min
Benefits of Hiring a Bookkeeper
Every business owner or manager searches for two things when onboarding a new service or employee: earn more and work less. Navigating...
90
Tax Geaks
- Jun 10
- 2 min
Deriving the Most Insight from Your Financial Statements
The financial statements of your business might seem like a routine pile of papers that lands on your desk at the start of each month....
90
Tax Geaks
- Jan 18, 2021
- 2 min
What to Do if You Haven't Filed Your Tax Return
If you haven’t filed your federal income tax return for this year or for previous years, you should file your return as soon as possible...
210
Tax Geaks
- Jan 18, 2021
- 2 min
Unemployment Compensation
The tax treatment of unemployment benefits you receive depends on the type of program paying the benefits. Unemployment compensation...
210
Tax Geaks
- Jan 18, 2021
- 3 min
Rental Income and Expenses
Cash or the fair market value of property or services you receive for the use of real estate or personal property is taxable to you as...
270
Tax Geaks
- Jan 18, 2021
- 2 min
Recordkeeping
Well-organized records make it easier to prepare a tax return and help provide answers if your return is selected for examination or if...
90
Tax Geaks
- Jan 18, 2021
- 1 min
Roth IRA Contributions
A Roth individual retirement arrangement (Roth IRA) is a tax-favored account or annuity set up in the United States solely for the...
60
Tax Geaks
- Jan 18, 2021
- 2 min
Extensions of Time to File Your Tax Return
You may request up to an additional 6 months to file your U.S. individual income tax return. There are three ways to request an automatic...
100
Tax Geaks
- Jan 18, 2021
- 2 min
Copy or Transcript of Your Tax Return – How to Get One
Copy of Your Tax Return There are different ways to obtain your tax return information. Most requests can be satisfied with a computer...
120
Tax Geaks
- Jan 15, 2021
- 2 min
Taxpayer Advocate Service – Your Voice at the IRS
The Taxpayer Advocate Service (TAS) is your voice at the IRS. As an independent organization within the IRS, TAS strives to ensure that...
160
Tax Geaks
- Jan 15, 2021
- 3 min
IRS Services – Volunteer Tax Assistance and Outreach Programs
The IRS sponsors volunteer assistance programs offering help to taxpayers in many community locations. VITA The Volunteer Income Tax...
110
Tax Geaks
- Jan 15, 2021
- 3 min
Reduced Refund
The Department of Treasury's Bureau of the Fiscal Service (BFS) issues IRS tax refunds and Congress authorizes BFS to conduct the...
100
Tax Geaks
- Jan 15, 2021
- 1 min
Exempt Organization Types
Charitable Organizations Organizations organized and operated exclusively for religious, charitable, scientific, testing for public...
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