Avoid penalties by keeping accurate information return records Did you file all required information returns for 2015 and earlier years? Information returns include Forms 1099, the forms you complete when you pay for certain business expenses such as rent or…

Are you at risk of an audit? According to recent statistics, budget cuts, staff attrition, and a heavy workload for IRS employees mean your chances of undergoing a tax audit are less than 1%. Does that sound like a non-event…

Are bad business debts a tax deduction? If you’re in business long enough, you’ll run into a customer who doesn’t pay you. Despite your best efforts, you may conclude that you’ll never receive the money. Do you have a tax-deductible…

Major tax deadlines for March March 15- 2015 calendar-year C corporation and S Corporations income tax returns are due. March 15- Deadline for calendar-year corporations to elect S corporation status for 2016. March 31- Payers who file electronically must submit…

In mid-December, Congress renewed a long list of tax breaks known as “extenders” that have been expiring on an annual basis. This year many of the rules are retroactive to the beginning of 2015, and you can benefit from them…