Five Reasons to E-File Your Tax Return

 IRS TAX TIP 2013-03

If you haven’t tried IRS e-file before, now is the time. Most taxpayers – more than 80 percent – file electronically. The IRS has processed more than 1 billion individual tax returns safely and securely since the nationwide debut of electronic filing in 1990. Fewer people file a paper tax return every year. Here are five good reasons to e-file your tax return: Continue reading

Bartering – Four Things We Need to Know

The IRS wants to remind small business owners that the fair market value of property or services received through barter is taxable income.

Bartering is the trading of one product or service for another. Usually there is no exchange of cash. However, the fair market value of the goods and services exchanged must be reported as income by both parties.

Here are four facts on bartering : Continue reading

Virtual Tax Preparation

No, it’s  not me in this picture. But .. it is a photo of a woman on Skype or in Video Chat, connecting with the person who called her.  And it could be YOU!

It’s easy to meet face to face, even when you can’t physically be there.

You get to stay in the comfort of your home,  while  I  do the number crunching from my office, and together we can crank out your return in no time.  You can come to my office for signing or we can meet at an agreed upon location and sign the return.

It’s amazing what we can do with the power of the Internet, video chat, and more.   Or, if you are more conservative, we can do it all by phone.

Easy Mileage Book for Tracking & Tax Savings

The mileage book that I’ve used for years and recommend highly is the Dome Auto Mileage/Expense Record Book

It has these features:

  • Undated weekly format, good for one year
  • Records mileage and business purpose, with daily, weekly, annual totals, and affidavit to comply with IRS requirements
  • Receipt pockets for documenting trip expenses
  • Detailed expense section
  • A must for those who use their cars for business purposes
  • Fits in pocket or glove compartment
  • 3-1/2in x 6-1/2in
  • 140 pages
When you get into your car, it’s easy to pick up, record your destination, business purpose, and beginning and ending odometer readings for each trip that you make.
I cannot recommend it enough and you can save on your taxes big time if you have all of your business mileage recorded.
Be sure to also record your beginning and ending odometer readings for the year because that’s so important in calculating the business use percentage of your vehicle.
I got my mileage book this year on Ebay for under $5.00.