Category Archives: Business Extension

Tax Returns When You’re out of the Country

Understanding your responsibilities during tax time can be daunting. If you are a U.S. citizen or resident alien living abroad, things can get even more complicated. It’s important to realize that many of the same rules apply to those living …

Posted in Business Extension, Personal Extension | Comments Off on Tax Returns When You’re out of the Country

Employee Benefits as Tax Claims

If you are a business owner, there are a number of other fringe benefits that you may provide to your employees that can also have an impact on your tax liability. The rules and requirements are sometimes convoluted, but it …

Posted in Business Extension, State Extensions | Comments Off on Employee Benefits as Tax Claims

New Estate Tax Tips

When planning your estate, finding out a way to keep taxes for your loved ones as low as possible will ensure that your family gets the maximum amount of benefit after your passing. Estate laws can be a little tricky …

Posted in Business Extension, State Extensions | Comments Off on New Estate Tax Tips

IRS Tax Forms – Make Sure You Use the Correct Ones

The new tax season is upon us, and it often feels as if putting together all of your financial information for the past year and filing your taxes will cause mild to severe headaches. It should be noted that the …

Posted in Business Extension, State Extensions | Comments Off on IRS Tax Forms – Make Sure You Use the Correct Ones

Tax Extensions for Trusts and Estates

If you are filing for an estate or trust and you need more time to prepare your return, you can file Form 7004 for a tax extension. Note that the rules for these types of extensions have changed in recent …

Posted in Business Extension, State Extensions | Comments Off on Tax Extensions for Trusts and Estates

Tips for E-filing Form 7004

Running a business is hard work, and often times it’s simply not possible to file your business tax return by the deadline (March 15 or April 15). In order to avoid the costly fees, penalties, and interest charges associated with …

Posted in Business Extension, Personal Extension | Comments Off on Tips for E-filing Form 7004

Bankruptcy & Back Taxes

Have you considered declaring bankruptcy because you are hoping to start fresh? While declaring bankruptcy may allow you to get rid of most debts, there are some instances where personal income taxes may not be discharged from a bankruptcy and …

Posted in Business Extension, Support | Comments Off on Bankruptcy & Back Taxes

What are Federal Tax Brackets?

Do you know what tax bracket you are in? The federal government created tax brackets in order to separate different types of taxpayers and charge different tax rates. Knowing your current tax bracket, and possibly how to lower your tax …

Posted in Business Extension, Personal Extension, Support | Comments Off on What are Federal Tax Brackets?

Tax Exemptions 101

Just about everyone who files a US tax return has the ability to claim tax exemptions on one or more items. These items effectively lower your overall tax liability, reducing what you owe in a given year to the IRS. …

Posted in Business Extension, Personal Extension | Comments Off on Tax Exemptions 101

Are those really Business Expenses or Audit Triggers?

Being in small business means that most of the time you will rarely be audited. According to recent statistics, just under 1% of all tax returns last year were audited for companies under $10 million in assets. So why invite …

Posted in Business Extension, State Extensions | Comments Off on Are those really Business Expenses or Audit Triggers?