2011
November
Preparation is the Key
Thursday, November 10, 2011
November brings a chance to prepare for the 2011 filing season and also for me to take advantage of continuing education. I recently attended two different seminars , one with the State of Oregon and the other was a Federal Tax Update. In summary, the things I learned from these…
September
Make it Easier to pay those Quarterly IRS Estimated Tax Payments
Thursday, September 15, 2011
Today is September 15, one of the four times a year taxpayers must pay their quarterly estimated tax payments. If you are one of the many taxpayers who must “prepay” their tax throughout the year with quarterly estimated tax payments, I have a suggestion for you. Don’t write a check…
July
Summer is IRS Notice Season
Tuesday, July 12, 2011
Have you received an IRS notice in the mail? Not what you want to see in the mailbox when you trot down to get your mail. Unfortunately your odds are high because IRS notices have increased 670% over the past 10 years ago. Last year the IRS issued 201 million…
2010
December
Understand the New Tax Relief Package
Tuesday, December 28, 2010
On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. How many more acronyms (EFTRRA or JCTRRA) do we have to know? This Act, in essence, is an extension of the Bush-era tax cuts for two years. Also,…
Lessons Learned During an IRS Audit
Thursday, December 2, 2010
Recently I made the visit to the downtown office of the IRS to assist a taxpayer through a very extensive audit. The process of dealing with the IRS can cause stress and sleepless nights for the taxpayer. The reason the IRS causes such fear is that they can be a…
October
Tax Savings Strategies to use before Year End
Friday, October 8, 2010
We are closing in on that time of year when cool weather moves in and we know the holidays are around the corner. It is also the time to get serious about utilizing some tax laws to your advantage as we head into the home stretch of 2010. Here are…
August
What does Health Care Reform mean for you?
Thursday, August 5, 2010
Today I was researching my options for health insurance coverage for me and my employees. I realized that this would be a good time to address some of the changes from the 2010 Health Care Act and how several of the tax provisions might affect your 2010 and 2011 federal…
January
The Facts of Oregon’s New Tax
Sunday, January 31, 2010
Emotions run high on both sides of the campaign that ended Tuesday with a victory for the supporters of Measure 66 and 67. Now the buzz is all about really trying to understand the new taxes. How will the taxes affect you? Everyone is talking about it, but misinformation seems…
Understanding the Making Work Pay Credit
Tuesday, January 26, 2010
Do you remember last April when your paychecks got a little fatter? That was due to the Making Work Pay Credit which was the government’s 2009 method of stimulating the economy. This credit is similar to 2008’s Recovery Rebate Credit in that it was a way for our federal government…
The Joys of Being Self Employed
Thursday, January 7, 2010
So I’m way behind on my effort to give you valuable business and tax advice in the form of a monthly blog article that peaks your interest and solves your tax problems. Things like filing payroll tax reports, deciding on a new web site and 2010 marketing campaign creep into…
2009
October
American Opportunity Credit helps pay for College
Friday, October 23, 2009
If college expenses are stretching your budget, you may be eligible for some tax relief. The American Opportunity Credit replaces the existing Hope Credit for tax years 2009 and 2010. Improvements have been made to this credit to make it available to a larger group of taxpayers. The credit is…
September
Does the IRS Terrify You?
Thursday, September 24, 2009
Fear of the IRS and of the audit process is very high for most taxpayers. Recently several clients called me because they received the dreaded letter from the IRS. The letters vary in scope from a request for more information on mortgage interest deduction to a more detailed audit of…
August
Business Ingenuity Helps you Rise to New Challenges
Friday, August 21, 2009
Good old summertime is a quiet period in the tax business. So I take some time to reflect, plan and brainstorm on business practices, tax challenges and the everyday grind that business owners face all throughout the year. I read articles online and in business journals about business owners who…
June
The Tricks of Monitoring Cash Flow
Thursday, June 11, 2009
Business ownership is a risky venture involving many hidden dangers. The biggest hazard is that you have all kinds of important things to get done and you’re keeping at least 5 balls in the air at the same time, but losing your focus on the financial side of your business. …
May
How to be a Successful Entrepreneur
Wednesday, May 13, 2009
New small businesses are sprouting up around town by entrepreneurs as a result of forced opportunity. Many smart business people who have lost their jobs to this economy are deciding to become entrepreneurs rather than engage in a long and arduous job hunt. For some this is the kick in…
April
What To Do if You Owe the IRS
Friday, April 10, 2009
If you owe tax to the IRS but you can’t pay the full balance right now, you have some options. Follow these tips to avoid additional penalties and interest. First, file your taxes or file an extension by April 15th. However, the extension does not grant you additional time to…
March
How to Safeguard your Records
Thursday, March 26, 2009
As a tax preparer I have a fiduciary responsibility to keep your personal information confidential. I put in place safeguards to keep your information safe both physically and electronically. Individuals and business owners should put in place procedures to keep records available and keep them safe. Storing your records electronically…
February
Practical Business and Personal Practices for 2009
Wednesday, February 18, 2009
What are the factors that make your business or your personal life stressful, out of control and chaotic? Is it the stack of papers on the kitchen counter of bills, invitations and grocery lists and you can’t find the paper you need to sign and send back to your child’s…
Five Tips for Taxpayers
Saturday, February 7, 2009
You don’t want to pay any more tax that you have to and so here are some tips to help reduce your 2008 tax burden. 1. The 2008 Stimulus Payment that you received last spring or summer is not taxable income to you and most likely you received the correct…
January
Washington - Show Me the Money!
Tuesday, January 27, 2009
Barack Obama is moving quickly as he begins his work in the Oval Office. First on his agenda is the task of gathering support for his economic stimulus plan. On January 24, 2009, The New York Times laid out some of the details of the
