A question I get a lot is, “In which state(s) do I have to file a tax return?” That’s a great question, with a sometimes confusing answer. Basically, the answer is: Your home state Wherever you have a “physical presence.” Simply put: Where did you physically earn money during the
As a small business owner, you’re swamped with responsibilities and paperwork. Now that tax season is here, you’re thinking, “What exactly can small business owners deduct from their business’ taxes?”. Good news! You can deduct anything and everything that has a legitimate business purpose. If a payment is made to
Take a look at our top six reasons why filing your tax returns early can benefit you! 1) Faster tax refunds Simply put: the faster you file, the faster your refunds come in! 2) Extra time to plan for the taxes you owe Have an estimated idea of how much
“My spouse is self-employed and I have an employer. Why can my spouse deduct business expenses on our tax return and I cannot?” We hear this question a lot. Simply put, the tax deductions that a business (or self-employed individual) can take are generous. Any expenditure that has a legitimate
10 Reasons Why You Should Use Quickbooks QuickBooks is the ideal business accounting software for small to mid-sized business owners. Here’s 10 reasons why you should be using QuickBooks. You save time on bookkeeping and paperwork because many of simple bookkeeping tasks are handled automatically making it easier to run
I recently got a voice mail from an “Agent Smith from the IRS” stating to IMMEDIATELY call his number as several IRS agents were en-route to arrest me for not paying my taxes. Since I’m up to date on my tax payments, I certainly wasn’t worried about agents coming by
Receiving a notice from the Internal Revenue Service is usually no cause for alarm. Every year the IRS sends millions of letters and notices to taxpayers. In the event one shows up in the mailbox, here are ten things you should know. Don’t panic. Many of these letters can be
At Rob Hylen CPA & Associates, we serve a wide variety of industries. They include, but are not limited to: Renewable Energy Chemical Engineering Real Estate/Property Management Doctor and Dentist Offices Wedding Planning Landscaping Wedding Planning Fitness Clubs Law Office Gift Shoppe Business Management Photography Disc Jockey Rock Bands Auto
I often get asked in the summer and fall by clients: How much am I going to owe in taxes by April 15 of next year? Am I going to get a refund or am I going to have to owe…
Well it is the time of the year when it is time to start thinking about next year. Maybe your business is outperforming your expectations in 2014. Maybe it did not reach your expectations…