Tax identity theft is an increasingly enormous problem. The IRS has been bombarding us with warnings of identity theft and scams this tax season.
Here’s a summary of some of the latest information you should know. (more…)
Archive for the ‘Tax’ Category
How can you protect yourself from tax fraud?
Friday, March 16th, 2012How do you participate in Ohio’s use tax amnesty program?
Friday, March 9th, 2012The requirements for participating in the State of Ohio’s use tax amnesty program’s payment program just got a little easier. (more…)
Do you have to file taxes for your dependent children?
Tuesday, March 6th, 2012A question we hear quite often during tax season relates to when it is necessary to file a tax return for a dependent child. Some people think that money held in an account intended for college education is exempt from taxation. That is not the case, unless the account is an Education IRA or Section 529 plan. If the investments are held in a custodial account or held in the child’s individual name, the child is deemed the owner and the income is attributable to him/her. (more…)
How can you get Akron tax amnesty?
Thursday, March 1st, 2012If you’re an Akron business that collected income taxes from your employees but didn’t pay them to the city, the city is going to come after you if you don’t step forward. (more…)
How Can You Track Use Tax in QuickBooks?
Wednesday, February 29th, 2012Now that you have filed for use tax amnesty and are all set up with an account, how are you going to track it daily going forward? If you use QuickBooks, the answer is as simple as 1-2-3. (more…)
How do you follow IRS regulations when gifting a business interest?
Friday, February 17th, 2012Lately we’ve been surprised by how many people are thinking about filing a gift tax return without a business valuation. We’ve had a few conversations with people who are under the impression that they don’t need to attach a valuation of their business interest to the gift tax return.
Before you file your return without a valuatio (more…)
When Can You Expect to Receive Your Tax Refund?
Thursday, February 16th, 2012If you’re expecting a federal tax refund this year, it could be delayed. The agency reports that new anti-fraud measures could slow the refund process by approximately one week. (more…)
Is Your Farm a Hobby or a Business?
Friday, February 10th, 2012Farming is a pleasure activity for some individuals, and for others, it’s how they support themselves. If you farm for profit, how do you prove it to the IRS? (more…)
Sooner Rather Than Later? Why You Should Do Ohio Use Tax Amnesty Now
Monday, December 19th, 2011For the past several months, we’ve told you about Ohio’s use tax amnesty program. You may have read that the program will continue through April 1, 2013. So why should you participate in the amnesty program now rather than later? Here are four reasons. (more…)
Is 2011 the Year to Give? IRA Contributions to Charity
Friday, December 9th, 2011If you’re thinking about donating a portion of your IRA to charity, you’ll receive a greater tax benefit if you do so before December 31. A popular provision is set to expire at the end of the year, and there is no guarantee the provision will appear in an extender bill in Congress anytime soon. (more…)
