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IRS Tax Tip 2020-100, August 11, 2020 Now is a good time for people to begin thinking about next year’s tax return. While it may seem early to be preparing for 2021, reviewing your recordkeeping now will pay off when it comes time to file again. Here are some suggestions to help taxpayers keep good …
Good recordkeeping is an essential element of tax planning Read More »
IRS Tax Tip 2020-23, February 24, 2020 The tax filing season is upon us, and many people will be looking for someone to help them file a tax return. These taxpayers should choose their tax return preparer wisely. This is because it’s ultimately the taxpayer who is responsible for all the information on their income tax return. It’s …
Things taxpayers should remember when searching for a tax preparer Read More »
IRS Tax Tip 2020-18, February 12, 2020 As taxpayers are getting ready to file their taxes, one of the first things they’ll do is gather their records. To avoid refund delays, taxpayers should gather all year-end income documents before filing a 2019 tax return. It’s important for folks to have all the needed documents on …
Gathering records before preparing tax return makes filing go smoother Read More »
Tax Tip 2019-174, December 11, 2019 With the tax filing season just weeks away, tax professionals who have a data security plan should review it for updates. Those who don’t have a plan should create one and use the information below to get started. Having a written data security plan isn’t just a good idea, …
Here’s what tax preparers need to know about a data security plan Read More »
Tax Tip 2019-157, November 7, 2019 Recordkeeping is an important part of running a small business. In fact, keeping good records helps business owners make sure their business stays successful. Here are some things small business owners should remember about recordkeeping: Good records will help business owners: Monitor the progress of their business Prepare financial statements …
IRS Tax Tip 2019-97, July 23, 2019 Tax planning should happen all year long, not just when someone is filing their tax return. An important part of tax planning is recordkeeping. Well-organized records make it easier for a taxpayer to prepare their tax return. It can also help provide answers if a taxpayer’s return is …
IRS Tax Tip 2019-54, May 7, 2019 Small business owners should keep good records. This applies to all businesses, whether they have a couple dozen employees or just a few. Whether they install software or make soft-serve. Whether they cut hair or cut lawns. Keeping good records is an important part of running a successful …
Taking care of business: recordkeeping for small businesses Read More »