CERTIFIED PUBLIC ACCOUNTANT
Avoiding the End-of-Year Cash Flow Frenzy Many companies find themselves scrambling at the end of the year to boost their cash flow. However, similar to most other areas of life, quick cash flow fixes are rarely lasting, and they oftentimes may do more harm than good in the end. The... Continue reading →
Individuals who claim a loss on Schedule C, Profit or Loss from Business, can use the loss to reduce their other taxable income. The IRS knows many people are not in a bona-fide business, but rather are using losses from their hobby to pay less income tax. Internal Revenue Code... Continue reading →
Help! The IRS says they are going to file a lien or levy my assets. What can I do? The IRS allows every taxpayer the right to appeal before any seizure of property is made. Two different programs are available: the Collections Appeals Program (“CAP”) and the Collections Due Process... Continue reading →
Many individual business owners often choose to keep it simple and consider themselves as “self-employed” instead of forming a corporation. The IRS defines net earnings from self-employment as “the gross income derived by an individual from any trade or business carried on by such individual, less the deductions allowed”. An... Continue reading →
While today’s entrepreneur may have expertise in their profession or industry, they must also learn to be the marketing director, salesman, office manager, chief financial officer and accountant. They usually do not have the experience or aptitude to make the best financial and accounting decisions. It is not surprising that... Continue reading →
