Request First Time Penalty Abatement

The IRS has all sorts of penalties.  There is up to 25% penalty for filing a tax return late.  There is up to 25% penalty for paying taxes owed late.  For payroll taxes, there is up to 15% penalty for not paying deposits timely.  By the time the IRS gets done charging penalties your tax could double!  If you made a one-time mistake, you may qualify for removal of all penalties charged.  Continue reading…


Vacation Home Tax Breaks

Summer time is just around the corner!  Are you thinking about renting out your summer cottage?  It may be a good idea.  You could earn a little income and get some tax breaks for renting your summer cottage. Continue reading…


Paying Enough Taxes in 2015?

The hardest part of our job is explaining to a client why they have a large tax bill.  This is a difficult discussion because nobody wants to pay more taxes to the IRS.  Here are some tips on paying sufficient taxes throughout the year so you don’t get a surprising tax bill at the end of the year. Continue reading…


Top 3 Bookkeeping Tips

Owning a small business is tough. You are juggling many roles: salesperson, marketer, manager, technician, visionary, and many more. One of the vital roles in your business is keeping track of your books and records. Some small businesses are unable to hire a full time bookkeeper or hire an accounting firm to maintain the books. This means the bookkeeping will be done in-house by you. Here are some do-it-yourself bookkeeping tips.

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5 Benefits of Filing Taxes Early

It’s tax time again, your favorite time of the year! You are eager to gather all your tax documentation and giving it to your tax accountant. Ok, maybe this is not you. But, there are some benefits of filing your taxes early.

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