By Elizabeth Davis on September 3, 2010
Could I be raising a future accountant? I think I might be. My 6 year old daughter likes to play “taxes” with her friends. She doesn’t yet fully understand what taxes really are but she does like to mimic what she sees me do in my office. And by reading The [...]
Posted in Budgeting | Tagged Budget, Personal Finance, Small Business, Technology
By Elizabeth Davis on September 2, 2010
Reminder, I am available for Open Office Hours on Thursdays from 9 am – 11 am at The Daily Grind (810 North Ave, Norwalk).
Do you have questions such as:
Business Questions:
How do you set up a budget?
How do you use Quickbooks?
How does recent legislation impact me as a business owner?
Individual Questions:
How do I set up a [...]
Posted in Small Business | Tagged Balance Sheet, Budget, Income Statement, Personal Finance, QuickBooks, Small Business, Technology
By Elizabeth Davis on August 5, 2010
IRS Summertime Tax Tip 2010-13
The Internal Revenue Service may have money for you. Was your income below the limit that requires you to file a tax return? If so, you may still be due a refund.
If you have not filed a prior year tax return and are due a refund, you should consider filing the [...]
Posted in Tax | Tagged IRS, Personal Finance
By Elizabeth Davis on August 2, 2010
IRS Summertime Tax Tips 2010-12
If you forgot to include some income or to take a deduction on your tax return – you can correct it by amending your tax return.
In some cases, you do not need to amend your tax return. The Internal Revenue Service usually corrects math errors or requests missing forms – [...]
Posted in Tax | Tagged IRS, Personal Finance, Small Business
By Elizabeth Davis on July 30, 2010
IRS Summertime Tax Tips 2010-11
Taxpayers need to be careful to protect their personal information. Identity thieves use many methods to steal personal information and then they use the information to file a tax return and get a refund. Here are 10 things the IRS wants you to know about identity theft so you can avoid [...]
Posted in Tax | Tagged IRS, Personal Finance, Small Business
By Elizabeth Davis on July 28, 2010
IRS Summertime Tax Tip 2010-10
The Taxpayer Advocate Service is an independent organization within the Internal Revenue Service. TAS helps taxpayers who are experiencing economic harm such as not being able to provide necessities like housing, transportation, or food, taxpayers who are seeking help in resolving problems with the IRS, and those who believe an [...]
Posted in Tax | Tagged Economy, IRS, Personal Finance, Small Business
By Elizabeth Davis on July 26, 2010
IRS Summertime Tax Tip 2010-09
Do you need assistance with a tax issue that can’t be handled online or on the phone? If you want to meet with an IRS representative face-to-face, come to your local IRS Taxpayer Assistance Center. Here are eight reasons to visit an IRS TAC.
Notices or letters Have you received [...]
Posted in Tax | Tagged IRS, Personal Finance
By Elizabeth Davis on July 23, 2010
IRS Summertime Tax Tip 2010-08
The Internal Revenue Service issues a list of the top 12 tax scams each year – known as the Dirty Dozen. The scams are illegal and can lead to problems for taxpayers including significant penalties, interest and possible criminal prosecution. These scams don’t just happen during the tax filing season, they [...]
Posted in Tax | Tagged IRS, Personal Finance, Small Business
By Elizabeth Davis on July 22, 2010
IRS Summertime Tax Tip 2010-07
Summer is a busy time for everyone, but particularly for military members and their families. Whether it’s moving to a new base or traveling to a duty station, members of the military have many obligations that could impact their tax situation. Here are 10 IRS tax tips military members should keep [...]
Posted in Tax | Tagged IRS, Military, Personal Finance
By Elizabeth Davis on July 19, 2010
IRS Summertime Tax Tip 2010-06
This credit – still available for 2010 – equals 6.2 percent of a taxpayer’s earned income. The maximum credit for a married couple filing a joint return is $800 and $400 for other taxpayers.
Eligible self-employed taxpayers can benefit from the credit by evaluating their expected income tax liability and, if [...]
Posted in Tax | Tagged Economy, IRS, Personal Finance