How Online Tax Calculators Can Tank Your Business

Why using online tax calculators is a bad idea for your business. Have you considered trying online tax calculators to get an idea of how much your business will pay next year? Don’t even consider it. These online tax calculators are seriously problematic for a variety of reasons. In fact, they can be a serious enough problem to impact your business for years. In extreme
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Categories: Sacramento Personal Taxes.

The Final 5: The 5 Most Common Tax Errors and What They Cost

Do you know how much these common tax errors can cost you? Tax errors are a serious problem that can impact your life for years. They can cost you thousands of dollars and disrupt your financial security. Here is how to avoid these common tax errors and stay free of excessive monetary loss. The Most Common Tax Errors Broken Down While there are dozens of
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Categories: Sacramento Personal Taxes.

The 3 Most Common Tax Preparation Scams You Need to Avoid

Are you aware of these common tax preparation scams? As if it’s not bad enough you might owe the IRS money, scammers who conduct tax preparation scams are looking to take advantage of you. They want your refund and possibly even your personal information. It’s important to know the signs of a dishonest tax preparation practice. Here are three common tax preparation scams to watch out
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Categories: Sacramento Personal Taxes.

Tax and Advisory Services for Families with Children

We have been preparing tax returns for thirty years, but we’re much more than tax preparers. Our advisory services encompass the BIG picture to protect our clients through all phases of life. Transitional events, like marriage, building a family, including foster and adoption, divorce, starting a business, aging and death all come with new complexities. Our role is to help our clients have the best
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Categories: Sacramento Personal Taxes.

The Ugly Truth: Charitable Deductions Denied For Someone Else’s Mistake

If you were audited by the IRS, do you think they would be fair to you? Many people believe that if they have receipts and can prove their deductions, the IRS will accept it. That may have been true years ago, but today’s IRS is ruthless. This court case is proof of that. The Story David and Veronda Durden gave money to their church on
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Categories: IRS PROBLEMS and Sacramento Personal Taxes.

Tax Software Revisited – The Pros and Cons of Doing It Yourself

Facts: Tax Software Is Cheap. You Get What You Pay For. Tax software is marketed beautifully. TV ads show customers just pushing a button on a smart phone to reduce their taxes. With an IRS code of over 74,000 pages, the idea of tax simplicity is utterly seductive. Tax software is also cheap. It is also a lot quicker answering their fundamental questions than to
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Categories: Sacramento Personal Taxes.

The Ugly Truth About Changing Tax Brackets

As your income increases, what happens to tax brackets and the percentage the IRS takes? As your income rises, you move into a higher and higher tax brackets and pay a larger percentage of your income in taxes. This system is the progressive taxation design of our U.S. tax system. Today, the tax code has seven separate tax brackets, ranging from the lowest bracket of
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Categories: Sacramento Personal Taxes.

IRS Audits of Employee Business Expenses

The IRS is auditing more people who deduct employee business expenses.  If you work for someone and deduct work expenses, then this report is for you.   If you are called in for an audit, do you know how to defend yourself?  Many people go into an IRS audit with confidence, believing that their receipts will allow their tax deductions.  But when the auditor is
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Categories: IRS PROBLEMS and Sacramento Personal Taxes.

Simpler Tax Reporting – Is It Right For You?

The Simpler Tax System—is it Right for You?    Many people are frustrated with the complexity of the Tax Code and want it to be simpler. Their reasoning goes something like this: “I am a business owner, not a junior accountant, why do I have to keep all of these records. Why can’t it be simpler?”   Well, the government understands your frustration and is
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Categories: Sacramento Personal Taxes and SMALL BUSINESS ADVISORY.