Tax time can mean having a large bill, but also potential penalties. To avoid these, it requires determining when this extra income will come in and making tax payments to cover it.For...
While closing a business can be an emotional time for a small business owner, it can also be equally full of multiple administrative tasks. The IRS itself has numerous requirements,...
When its tax time, reducing your tax liability means making sure that you have received all your credits and deductions. Many individuals are concerned about itemizing deductions,...
Starting your business is a big deal. You came up with the idea, found the funding that will get it off the ground, and are excited to get going. But before you can open the doors,...
Tax issues of foreign persons in the United States...
Posted by The Accounting and Tax on 02/16/2016
All income is taxable unless a law specifically says it isn’t. Here are some basic rules you should know to help you file an accurate tax return:Taxable income. Taxable income...
Posted by Salter Elite Consulting on 02/16/2016
Medical expenses can be deducted from your federal tax return as much as they exceed 10% of your annual gross income. Most people are aware of the common medical expenses...
College is one of the largest expenses one will incur during their lifetime. With college tuitions rising steadily each year, and enrollment seeing a huge increase in the last...
You’ve scheduled your appointment with Professional Accounting Services, Inc. in Owing Mills, Maryland, and you are ready to get started! But where do you start? Besides...