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What is the best way to prepare for a cash business audit?

  • July 12th, 2018
  • David Greene
  • Comments Off on What is the best way to prepare for a cash business audit?

When a tax examiner audits a cash intensive business, she looks at several factors to see if all income is being reported.  According to the IRS, the primary indicators of unreported income are: (1) a lifestyle that cannot be supported…

Some business tax tips under the new tax law

  • July 11th, 2018
  • David Greene
  • Comments Off on Some business tax tips under the new tax law

Many owners of small businesses know how to make or sell their product, but do not know how to keep good books and file and pay all required local, state and federal tax forms.  To keep your business out of…

Can the IRS assign my tax debt to a private debt collector?

  • June 27th, 2018
  • David Greene
  • Comments Off on Can the IRS assign my tax debt to a private debt collector?

In 2015 Congress passed a federal law which allowed certain private companies to collect, on the government’s behalf, outstanding inactive tax receivables. However, currently there are only four contractors that are authorized for collection: CBE Group of Cedar Falls, Iowa;…

Will my student loan debt forgiveness be taxable?

  • June 19th, 2018
  • David Greene
  • Comments Off on Will my student loan debt forgiveness be taxable?

When you take out student loans, you are borrowing money and are legally obligated to repay a fixed or determinable amount at a future date. You have a debt. Under the Income-Based Repayment (IBR) plan, your student loans will be…

Which improvements qualify for the various energy credits?

  • June 12th, 2018
  • David Greene
  • Comments Off on Which improvements qualify for the various energy credits?

When you file your tax return, the IRS allows a reduction of tax for any energy efficient improvements you have made. These tax credits can range from adding solar panels to your home to driving an electric car. The Qualified…

Here are the Dirty Dozen tax scams for 2018 according to the IRS.

  • May 9th, 2018
  • David Greene
  • Comments Off on Here are the Dirty Dozen tax scams for 2018 according to the IRS.

The Dirty Dozen: (1) Telephone scams threatening to have you arrested if you don’t pay immediately. The IRS will never call you asking for money. (2) Phony emails asking you to go to a website and give personal information.  The…

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