The federal self-employment (SE) tax just keeps going higher and higher. If you’ve reached the breaking point, there may be a way to tame the SE tax beast by converting your existing unincorporated small business into an S corporation.
Did you know the Section 179 tax deduction has been increased to $500,000 for 2013? As an added bonus, the former limit for 2012 ($125,000) was boosted to a half […]
New Mexico Legislature eliminates double tax on leased equipment-—will Arizona follow? Due to the construction downturn, many firms are leasing instead of purchasing new equipment. Here’s some BIG news from […]
How do I access prior years’ (2 years back or more) financial statements and transactions after closing the current year in Timberline? Or, in other words, I’m losing access to the previous prior year’s detail because I closed the year. How can I still access it after the close?
Review this IRS checklist to shore up weak spots and improve your documentation in preparation for that unforeseen IRS audit. The list comes from the actual Audit Techniques Guide that […]