Our Financial Blog

 

Employee or Independent Contractor? Don’t Screw It Up!

Google “Employee or Independent Contractor” and you will find page after page of data on the subject.  Let me try and boil it down for you. Federal employment withholding taxes represent nearly 70% of all federal tax revenue to be paid to the IRS, with unreported or...

IRS Possible Audit Flags

According to an article in Kiplinger by Editor Joy Taylor dated December 5, 2018, 18 Red Flags for IRS Audits consist of: High Income: As of 2017, an average of only 0.015% of total tax returns filed are audited.  .08% of Returns on incomes between $200,000 and...

Small Refund?

I seem to be hearing/reading about many tax payers disappointed about receiving lower tax refunds this year than in the past.  Before I put forth some thoughts on why this might be, let me say this: The government isn’t giving you a freebie with a tax refund!  Unless...

Beware of “Ghost” Preparers

By law, anyone who is paid to prepare or assist in preparing federal tax returns must have a valid Preparer Tax Identification Number, or PTIN, must sign the return and include their PTIN. But ‘ghost’ preparers do not sign the return. Instead, they print the return...

Additional REsources

A Few Other Resources We’ve Created for Our Customers

Employee or Independent Contractor? Don’t Screw It Up!

Google “Employee or Independent Contractor” and you will find page after page of data on the subject.  Let me try and boil it down for you. Federal employment withholding taxes represent nearly 70% of all federal tax revenue to be paid to the IRS, with unreported or...

IRS Possible Audit Flags

According to an article in Kiplinger by Editor Joy Taylor dated December 5, 2018, 18 Red Flags for IRS Audits consist of: High Income: As of 2017, an average of only 0.015% of total tax returns filed are audited.  .08% of Returns on incomes between $200,000 and...

Small Refund?

I seem to be hearing/reading about many tax payers disappointed about receiving lower tax refunds this year than in the past.  Before I put forth some thoughts on why this might be, let me say this: The government isn’t giving you a freebie with a tax refund!  Unless...

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