My Tax Blog

  • Important Upcoming Dates

    Head’s up on some important dates! This Year’s Extension deadline is : October 16th, 2017 -Individual, C-Corp (S-corp & partnerships were September 15th) -Disaster Areas: Added time to file returns on extension, January 31st, 2018 (Hurricanes Harvey, Irma and Maria) CTEC renewal deadline is : October 3st, 2017  

    Mileage Log Options

    While some companies, like Uber, who work with contractors, keep track of business mileage for the taxpayer most do not. One of the most financially detrimental things to your taxes is not being able to substantiate business miles that would otherwise be a large deduction.  The IRS does not mandate any method of documentation.  You […]

    Hurricane Harvey Victims get Tax Relief

    Hurricane Harvey victims in parts of Texas have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today. The hurricane tax relief is part of a coordinated federal response to the damage caused by severe storms and flooding and is based on […]

    How do tax preparers make money?

    Tax preparers make money in a few ways. Namely, they make most of their earnings by preparing tax filings for individuals, businesses, and other entities such as estates and non-profit organizations.  The cost of preparation and the filing of the returns will vary greatly. Preparation fees for an Individual tax return for the current year […]

    Is a Tax Preparation Business right for you?

    The tax industry is a delicate balance of chaos and repetition. Yearly updates on tax law, form revisions, tax software, and tax professional education requirements keep tax professionals busy during the off season while peak season shows just how truly chaotic tax season can be.  Every tax professional will develop their own methods of preparing […]

  • Say “Goodbye” to These Common Tax Deductions

    Tax planning help may be needed for taxpayers who, through a combination of tax credits, usually receive a tax refund as opposed to owing, which may be just the opposite in the next couple of years as many common and often used tax credits are set to expire. The following common tax deductions and credits […]

    4th Largest Tax Prep Chain in US Shut Down by Federal Gov.

    Instant Tax Service has had their doors closed by US district court Judge Timothy Black.  Instant Tax was said to have been promoting a “culture of fraud and deception” within its franchisee base.   Along with promoting  unrealistic and undeliverable refund options to clients, Instant Tax was also sited for filing returns based off of pay […]

    2014 IRS PTINs Now Available!

    Anyone who, for compensation, prepares or helps prepare any federal return or claim for refund must have a valid PTIN from the IRS. The PTIN must be used as the identifying number on returns prepared. “We ask that you renew your PTIN as soon as possible to avoid a last-minute rush. It’s easy to let […]

    Tax Season Delayed & IRS Sorting 1.4 Million Letters

    Citing the need for “adequate time to program and test tax processing systems,” the service announced that it expected a one- to two-week delay in the start of tax season, and that it would start accepting and processing 2013 individual tax returns no earlier than Jan. 28, 2014, and no later than February 4. Tax […]

    IRS to delay 2013/2014 e-filing season…Again!

    Late breaking news:  IRS to delay the start of e-filing season again this year, blaming the recent government shutdown. While the IRS reserves the right to issue the final decision for the start of the 2014 filing season until December they are estimating the start date being pushed back from the original date of January […]

  • Important Upcoming Dates

    Head’s up on some important dates! This Year’s Extension deadline is : October 16th, 2017 -Individual, C-Corp (S-corp & partnerships were September 15th) -Disaster Areas: Added time to file returns on extension, January 31st, 2018 (Hurricanes Harvey, Irma and Maria) CTEC renewal deadline is : October 3st, 2017  

    Mileage Log Options

    While some companies, like Uber, who work with contractors, keep track of business mileage for the taxpayer most do not. One of the most financially detrimental things to your taxes is not being able to substantiate business miles that would otherwise be a large deduction.  The IRS does not mandate any method of documentation.  You […]

    Hurricane Harvey Victims get Tax Relief

    Hurricane Harvey victims in parts of Texas have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today. The hurricane tax relief is part of a coordinated federal response to the damage caused by severe storms and flooding and is based on […]

    How do tax preparers make money?

    Tax preparers make money in a few ways. Namely, they make most of their earnings by preparing tax filings for individuals, businesses, and other entities such as estates and non-profit organizations.  The cost of preparation and the filing of the returns will vary greatly. Preparation fees for an Individual tax return for the current year […]

    Is a Tax Preparation Business right for you?

    The tax industry is a delicate balance of chaos and repetition. Yearly updates on tax law, form revisions, tax software, and tax professional education requirements keep tax professionals busy during the off season while peak season shows just how truly chaotic tax season can be.  Every tax professional will develop their own methods of preparing […]

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