1040Services

Business owners have a different set of needs than individuals and families. In many cases, however, a small business owner’s personal tax issues are intertwined and directly connected with those of the business. CPAs act as independent advisors who can work with business owners to help them meet day-to-day and long-term goals. Your CPA can:

•    Create a realistic business plan, and help you select an
organizational structure that meets your needs

•    Help identify financing, and negotiate financing terms
and conditions
 
•    Manage finances and accounting processes:
—Balance budgets
—Oversee taxes and payroll
—Determine sales tax liability
—Value products and inventory
—Track performance
—Monitor costs
—Develop marketing and pricing strategies
—Explain government, environmental and economic regulations
and ensure compliance

•    Advise on day-to-day operations, including salaries and benefits,
IT system requirements, internal controls, fraud mitigation and
risk management, retirement plan and health care options, and
insurance-provider selection

2014 Tax News

 Individuals

 Businesses

 

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Tax Credits that May Reduce Your Taxes A tax credit reduces the amount of tax you must pay. A refundable tax... Read more
Insurance Deduction for Self-Employed The deduction is for medical, dental or long-term care insurance premiums... Read more
Taxpayers with Foreign Income If you are living or working outside the United States, you generally... Read more
Rental Real Estate Income If you own rental real estate, you should be aware that all rental income... Read more
Claim Your Refund Here are some things to know about unclaimed refunds: 1. Not required... Read more
Itemizing vs. Standard Deduction When you file a tax return, you usually have a choice to make: whether to... Read more
Home Office Deduction 1. If you use part of your home for your business, you may qualify to... Read more
Child and Dependent Care Tax Credit If you paid someone to care for your child, dependent or spouse last... Read more
Mortgage Debt Forgiveness If your lender cancelled or forgave your mortgage debt, you generally... Read more
Capital Gains and Losses The term “capital asset” for tax purposes applies to almost everything... Read more
Take Credit for Your Retirement Saving for your retirement can make you eligible for a tax credit worth... Read more
Unemployment Benefits If you received unemployment benefits this year, you must report the... Read more
Medical and Dental Expenses If you paid for medical or dental expenses in 2013, you may be able to... Read more
Employee Business Expenses Some employees may be able to deduct certain work-related expenses. You... Read more
Energy-Efficient Home Improvements You may be able to get some credit for qualified home energy improvements... Read more
Rules For Child’s Investment Income Parents may not realize that there are tax rules that may affect their... Read more
Education Credits The American Opportunity Credit and the Lifetime Learning Credit may... Read more
How To Get Prior Year Tax Information The IRS offers several different ways to get tax return information or a... Read more