So you have managed to file your taxes on time, but after reviewing the return, you have discovered an error that is going to require that you amend the return. Here are nine facts that will aid you in filing that amended return.   You must use the Amended U.S....

Tax Planning Step 1: Check Your Paycheck Withholding Do You Want Your Tax Refund In Your Check? Recent IRS statistics show that almost 100 million (or 75%) of all Americans get a tax refund check, and the average refund check is for about $2,400. So why not get some...

Keep records for at least 3 years in case of an IRS tax audit. For your own peace of mind, you might want to keep them longer. Start a file folder at the beginning of each year, and put all of your receipts into it. Check your pay stubs against your W-2(s) to make...

It is time to start year-end tax planning for 2017. With the advent of the new presidential administration, comes a plethora of uncertainties with the proposed new tax legislation. So, with that in mind, barring any new legislation affecting the 2017 tax year. Here...

Personal Tax Prep Checklist Here’s a summary of what you’ll need for a tax return checklist, whether you see a tax professional or prepare your own taxes.  Personal Information Your social security number or tax ID number Your spouse’s full name and social security...

Income Gross receipts from sales or services Sales records (for accrual based taxpayers) Returns and allowances Business checking/savings account interest (1099-INT or statement) Other income Cost of Goods Sold (if applicable) Inventory Beginning inventory total...