The Form 5500 series concentrates on your employee benefit plans. Returning the annual report with the Depart of Labor is mandatory through the Employee Retirement Income Security Act of 1974. Preparing your form is based on many contributing factors. Who is required to File Form 5500? Knowing if you are required to file is the […]
tax and audit needs
Nonprofit Board and Staff: Understanding Taxes
Nonprofit board members, trustees, volunteers, and paid staff are the foundation for building a lasting organization to advocate your cause. Running a nonprofit requires planning and understanding of the tax benefits for the organization. When meeting all of the IRS guidelines, most nonprofits are exempt from state sales, property, and income tax. The nonprofit must […]
Get Ready for Tax Season with these Tips!
Tax guidelines and rules change yearly. Preparing for tax season in advance will help your firm, non-profit, or business file an accurate return. Preparing for tax seasonshould be an everyday occurrence. Avoiding the last minute rush to find the right documents will aid in a stress-free tax preparation.3 Tips to Help You Get Ready for […]
New Rules in 2018: Partnership Audits
Every year, changes to the upcoming season affect the way you commence business on a daily basis. The significant changes for 2018 are part of the Bipartisan Budget Act of 2015 (BBA). Passed by the Congress, the BBA greatly effects the rules for partnership audits. The 2018 changes for partnerships may actually increase the number […]
Tax Questions When Selling A Home
Maximizing your tax benefits when selling a home involves knowing which real estate tax questions to ask. If you realize a profit on the sale of your home, that income could be taxed. Alternately, if you take a loss on the sale of your home, you won’t pay taxes on the funds you receive but […]