Posts Tagged ‘tax credit’

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

  • 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

  • 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…

Which improvements qualify for the various energy credits?

  • 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.

  • 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…

What is the difference in capital and ordinary gains or losses?

  • David Greene
  • Comments Off on What is the difference in capital and ordinary gains or losses?

Capital gains or losses result from selling capital assets which generally, but not always, includes the sale of real estate.  Some things that are not capital assets are: business inventory, business receivables, real or other depreciable business property and certain…

How good are consumer computer tax preparation programs?

  • David Greene
  • Comments Off on How good are consumer computer tax preparation programs?

I have been asked this question several times already this year, so I am repeating the answer I gave to this question several years ago. However, I must state a disclaimer that no one knows how the new tax program…

Happy New Year. How to choose a tax preparer

  • David Greene
  • Comments Off on Happy New Year. How to choose a tax preparer

I hope all of my readers had a very relaxing and joyous Christmas holiday and I hope you are looking forward to a New Year filled with hope and promise.  As you know it looks like we will have a…

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