Certain income reductions—such as charitable contributions, medical expenses, personal casualty losses, and so on—are subject to tax deductions. These deductions lower a person’s tax liability via their taxable income, which will generally lower the amount of taxes...
An audit by the Internal Revenue Service is one of every taxpayer’s deepest fears. An audit takes place when the IRS decides to closely review your accounts to ensure that your small business is properly following tax laws. Although they aren’t extremely common, it’s...
At this point, we’re well into tax season. If you’re unsure of whether or not you need professional assistance, consider the following situations. If any of them apply to you, consider hiring a CPA to help. Small Business You should consider hiring a CPA if you own a...
