A lot of bookkeeping work revolves around tax preparation and making sure our clients are ready when it’s time to file their taxes. Below is a list of resources and articles we’ve published on taxes.
Working With A Certified Public Accountant (CPA)
3 Reasons to Hand your Taxes over to a CPA
Every year we see the commercials to get your taxes done at your local pop-up tax prep place. Or is it? If you, like many of our clients, want to find the best possible tax solutions tailored to your needs, then we enco urage you to have your taxes prepared by a Certified Public Accountant, or CPA.
Here are three reasons you should consider establishing a relationship with a CPA.
Choosing a Certified Public Accountant: 3 Things to Look for
Your Certified Public Accountant, or CPA, is an essential part of your financial team for obvious reasons: he or she will be the one who helps you navigate that rabbit warren of the federal tax code when tax season hits! But a CPA can also help you make smart financial decisions throughout the year. That’s why it’s very important to choose this professional with care.
Here are 3 things to look for as you go about choosing the right CPA for you.
3 Types of CPA Firms: Let Ten Key Help Choose the Right One for You
CPA firms are as varied and unique as your business is, but they generally fall into 3 categories. We have built relationships with excellent, professional CPAs at every level.
Here are 3 types of CPAs we can refer to you.
3 Things You Can do Before Year End to Minimize Next Year’s Tax Burden
With the end of each year, clients look ahead to next year’s taxes and wonder if there is a way to minimize their tax burden for next year. Especially if you had a good year and cash flow is…well, flowing.
The good news is, there are a few things you can do, but you need to get going on them ASAP. So we’ve provided a list of the top three quick and easy things a business owner can do in December to reduce next year’s tax burden.
Here are 3 Things You Can do Before Year End to Minimize Next Year’s Tax Burden
Forms 1099 and 1096
1099 and 1096 Forms: Why and when does your small business need to file them?
Proper preparation is a must for all taxpayers but if you own a small business, there are a few additional steps you need to take to get ready for tax season—and, depending on your business, that may include IRS Forms 1096 and 1099.
But what, exactly, are IRS Forms 1096 and 1099? Does your business need to submit both forms or even either to the IRS? And, if so, how do you fill out the forms—and when do you need to submit it to the IRS? Sit back as we answer all these questions and more.
Form 1099 – Don’t Get Caught Making These Mistakes
Both businesses and individuals can experience pitfalls when issuing (or failing to issue) a 1099, and claiming those payments on a return.
Here are a few situations where a 1099 is warranted, and how to avoid common errors.
Tax Tips from Your Bookkeeper
Need tax tips? Every year, we help clients pull together their financial documents for their tax preparer. And every year, we see it all: from the box of receipts to the nicely filed papers, from the pulling-their-hair-out to the calm, cool, and, collected client.
Here are a few tax tips to make life easier during tax season!
It’s Never too Early to Prepare for Tax Season
The typical mad rush of tax filers inputting data and struggling to find all the necessary details to file their taxes before the midnight deadline is finally over. Phew! We made it. While we’re all breathing a sigh of relief that tax season is wrapped and in the books, the reality is that now is actually the perfect time to start preparing for next year.
The typical mad rush of tax filers inputting data and struggling to find all the necessary details to file their taxes before the midnight deadline is finally over. Phew! We made it. While we’re all breathing a sigh of relief that tax season is wrapped and in the books, the reality is that as soon as possible is actually the perfect time to start preparing for next year.
Filing a Tax Extension May Be a Smart Move for Your Business
10 million personal filers and 5 million business owners request a tax extension each year. Taking an additional 6 months to complete your tax return may be a smart move. Obtaining an extension is as simple as filing IRS Form 4868. No reason needed. So why is everyone doing it? Here are 4 reasons a tax filing extension can be the right decision for your business this year.
IRA Contributions can Help Protect Your Taxable Income
We all work hard for our money, and when tax season rolls around, it’s hard to comprehend the idea that we might have to fork some of it over to the government. One of the ways to reduce your taxable income is to open and contribute to an IRA.
Simple Strategies for Tax Season Success
Have you ever wondered how you could make the process of preparing and filing your taxes a little easier? Regardless of the size of your company or the technicalities of your business, there are several strategies that can help you maximize your time and efforts for a less stressful tax season. Use our experience to your advantage with these tried and true tax tips.
4 Things you DIDN’T Know About Sales Tax in Massachusetts
Ten Key, Inc. offers expanded services in the sales tax area! We are registered to advocate on our clients’ behalf, and we’re ready to handle this difficult and time-consuming process for you.
Here are a few facts about Massachusetts sales tax you may not be aware of…
IRS Scams: Don’t be a Victim!
Chances are, you’re being targeted for one of the many IRS scams. Don’t be a victim! Remember, the IRS will NEVER call you as their first contact about a tax issue. Typical IRS protocol is to mail you a letter advising you of your tax issue, and this letter will contain information so you can call the IRS and work it out.
What You Need to Know about IRS Phone Scams
Taxes and Technology
Why We Recommend QuickBooks Desktop Over QuickBooks Online
QuickBooks Online and QuickBooks Desktop are both small business accounting software applications from Intuit that offer complete double-entry accounting along with automatic processing of closing entries.
Though both applications offer many similar services, and the allure of “easy-to-use” and “always accessible” online software is tempting, we continue to recommend QuickBooks Desktop as the better option for our clients.