Tax & Bookkeeping

This category contains 8 posts

Professional Services

FULL SERVICE PACKAGE – Daily Bookkeeping, Weekly Budget and Cash Flow Reports, Monthly Financial Statements, Annual Federal and State Business Tax Return, Free Tax and Business Consulting Advice Year-Round – $100 per month. TAX PREPARATION Individual – $100 Married – $150 Rental Property – $75 additional Single Owner Business – $75 additional Partnership / LLC / S-Corporation / C-Corporation – $150 per tax return … Continue reading

Tax Tip: Due JULY 31, 2013 NEW Affordable Care Act fee on certain employers and health insurance companies.

There is a nominal fee due for certain employers and health insurance companies as part of the new health care law. It is called the PCORI fee and it is due annually on July 31st beginning this year in 2013. The fee is not much but it does add to compliance burdens and the normal … Continue reading

Received A Letter From The IRS

Did you receive a letter from the IRS? First thing to do is to turn your panic reaction off. The letter more than likely says you owe more than you do, in many cases it says you owe twice as much as you really owe. With that in mind you can get your focus and find … Continue reading

Need to Start Keeping Books for Your Business

The first thing that you must do whenever you begin properly keeping your books is to set up a chart of accounts. The chart of accounts is a list of accounts that are specific to your business that will be used to record all business activity. As transactions occur you enter the amount in two … Continue reading

Three Things Maryland Teachers Should Know when Preparing their Taxes

The first one is for Maryland teachers, the other two apply to all U.S. teachers. Maryland Quality Teacher State Tax Credit – is for Maryland taxpayers who work in public schools in the state of Maryland that paid for graduate level courses in order to maintain their professional certification. The credit can be used to … Continue reading

Back Taxes – Untapped Oil Fields on your Land

For many people filing tax returns that were never submitted to the IRS can be like finding a new untapped well of money that they did not know was sitting on their property. But so many every year decide not to file and get back money that is owed to them. What most people also … Continue reading

Government Contracting Certification

The process of getting certified for government contracting involves submitting a business plan which includes a two year pro forma operating statement and a one year cash flow projection. These projected financial statements are based on your current business activity. These statements must be updated every year. As part of getting certified for government contracting … Continue reading

SMART Accounting

Those who practice smart accounting succeed and flourish, those who do not miss out on profits due to waste, overpaying or penalties, they miss out on tax deductions they qualify for and deserve as regulations change and they have lower productivity due to lack of efficiency and waste. These reasons alone pay for the cost … Continue reading