Home » Posts taggedtax services

Make Anytime Tax Time – Why a Seasonal Check Up Keeps You Ahead of the Headaches

photographers

Summertime can be a boon to new and established photographers.  It usually caps an upturn in business that kicks off in the spring as the wedding season begins.  Those who do specialty photography and capture the gorgeous flowers of the season for calendars, travel brochures or on assignment for popular magazines can get so busy flying from one photo shoot after another they give little thought to the paper trail they leave.  There have been great advancements in technology that make business affairs easier to handle, but they don’t work by themselves.  In order to take advantage of all the shortcuts and automatic record keeping software offers, you’ve got to feed facts and figures into it.  And to do so competently, you will still need the services of a competent tax preparer. learn more updates at http://www.blissfulmavenphotography.com/

No matter the size of your business, cutting corners and being creative about your finances is key to running a tight ship.  Using every resource, you can to your advantage to document the training, travel and investments in new equipment you purchase, you should make a quarterly checkup of your business rather than get overwhelmed in the few weeks leading up to filing your taxes.  You really appreciate how smart a phone can be when you can take a photo of a receipt and text it to your assistant after paying a significant amount of cash to a vendor on some island miles away from a computer.  Or, simply upload that receipt using tax preparing software online.

One savvy guy discovered that the costs to beef up the food stylist shots in his portfolio might be deducted.  He’d found a way to add beautiful shots of exotic meals and ingredients by subscribing to Hello Fresh, the monthly food delivery service.

photographers

It saved him time and money to use a Groupon to order the food, make the meals, take pictures of them – then eat them.  Not only did he save on the subscription, but he realized he could use the shots he took of the local produce, which changes seasonally, to solicit new business from nearby purveyors.  The shots taken of them are styled with the props and backdrops added to his studio over the past year.  His tax preparer reminded him the new equipment would qualify for a tax break after a year since they were considered capital expenses.   Business travel expenses, mileage on your car, even tuition, travel and lodging for training courses can qualify for tax breaks, however small.  The important thing is to document these expenses as soon as possible and take a hard look quarterly.…

Continue reading

Tips For Choosing A Tax Return Preparer

Income Tax Return

For a taxpayer that has decided to choose a tax return preparer, understand the importance of making the right choice. It is a must to choose a tax professional that is qualified and reputable to meet their tax needs. It is the taxpayer who is ultimately responsible for the accuracy of their tax return, regardless of who was employed for tax preparation help.

Choosing a tax return preparer will help prevent you from incurring financial penalties from the Internal Revenue Service which may include additional taxes or interest. The preparer will ask for a thorough accounting of your finances. In order to verify which exemptions, deductions, expenses and other items fit your situation you should be asked relevant questions by the preparer. A good tax preparer is also going to want you to produce receipts and records in an effort to minimize winding up in a dispute with the IRS later

Locating a qualified tax preparer should not become a chore nor should it be taken lightly. You can choose from various tax return preparers locally or online. However, use due diligence and make sure that the tax return preparer you choose is honest, professional and can fulfill your individual or business tax preparation requirements.

First, find out exactly how many their services will cost. Is it a flat fee or based on a percentage of your tax return? Ask up front.

Doing some research will go a long way in choosing a tax return preparer. Be sure to check the prospective preparers credentials and if they are up to date. You want to find out if the preparer is a member of a professional association that has a code of ethics and where continuing education is mandatory. The Better Business Bureau is another good place to find information. You can also check state and local boards for CPAs and bar associations for attorneys.

Make sure when choosing that the tax return preparers’ qualifications and expertise meet your needs. Keep in mind if an action before the Internal Revenue Service is necessary you can be represented only by enrolled agents, CPAs or tax attorneys in all actions including collections, appeals and audits. A taxpayer can be represented by all other tax return preparers only if you are audited and they signed your return as the preparer.

Get references from previous clients that have received tax preparation help from the tax return preparer and again do not be afraid to ask questions; after all you will be trusting this individual with vital information. Make sure they have delivered satisfactory service to their clients. It is also a good idea to choose someone who will be accessible after your tax return has been filed and who can respond to your individual needs.

Income Tax Return

Most importantly, stay away from any tax return preparer whose practices even hint at being illegal. Do not fall for schemes or scams that purport to be able to offer you great refunds or take advantage of unverified “loopholes”. You just want to get your taxes filed honestly and accurately, not become involved in a scheme or tax fraud that could cause you dire consequences with the IRS in the future.Learn more updates at https://www.thesun.co.uk/living/2059157/self-assessment-tax-deadline-submit-return/

Use good judgment when seeking tax preparation help and follow these suggestions it should help you locate the best tax preparation help to fit your needs. Don’t trust your tax returns to just anybody. These are some of the things to consider when choosing a tax return preparer to do your taxes.…

Continue reading

Online Procedure of Filing Income Tax Return Has Simplified the Process

income tax

Contribution of every citizen is necessary for the development of every nation. For the progress of any nation, the main attribute which is necessary is finance. Every country needs money in order to grow and to help its people to live a better life. In order to develop the nation, government arranges finances from numerous sources. Income tax is the one of the major sources for arranging finances for any nation. That is the reason every person is required to pay the income tax, if return is applicable on their income. The government takes the tax on income on the basis of annual income of the people.

There are two genres of returns (i.e. individual and professional). Under the individual category, one is supposed to file return personally on the basis of the amount earned by an individual. In the case of professional income tax returns, the amount is deducted from the salary of person. The process of filing return involves filling of some forms, with all the information regarding the salary of the tax payer. Filing return happened to be a cumbersome task earlier. But, with the passage of time, the government has simplified the procedure to a great extent by introducing the process of filing online income tax returns.

The government has launched its website which has proved to be quite helpful in filing returns. On the website of the income tax department, launched by the government, millions of people can file their returns online. The website even allows the tax payers to pay the amount through their credit cards. The Internet portals facilitate the users to pay the amount while sitting comfortably in front of their computers.

For paying through e-mode one requires to fill an online form with all the details. Once you have filled your form, you are required to enter the credit card number and a special code which is written behind the card. After these simple steps, your income tax return will be paid. This method has solved the problem of paying return for those who are familiar with the Internet. They can conduct the online procedure of paying the taxes easily. visit http://www.taxreturn247.com.au for more detailed information and updates.

income tax

You can go through the terms and conditions of filing return on the official Website of income tax commission. These specified terms and condition on the site help to get complete and genuine information about the rules and procedure of paying tax. It also facilitates the users to download the form for paying tax offline. There are ample number of other Internet portals that provide many facilities related to the tax return. With these portals, applicant can also calculate their tax amount within a minute by entering their income details.

So, it can be concluded with the above analysis that filing the income tax return is no more a tedious task and can be performed easily while sitting at home. Internet users can find such portals with simple search on Internet. Government has simplified the procedure of paying the return and it no more remained a dilemma for the people. For the betterment and growth of our country, filing return is a way to contribute to our nation. There is no doubt in the fact that in the coming time we can expect simpler procedure as compared to the existing one.…

Continue reading