A Sole-Proprietorship Many self-employed people will run their business as a sole-proprietorship. They are very easy to set up and cost very little to form. First, decide on a name. For example, John Jones D/B/A (Doing Business As) Prime…
While we are addressing a CPA here, please feel free to substitute Attorney, Financial Advisor, Etc. We had a former client terminate us recently. They had been a client for over 25 years. Second generation business, a small, local business. …
Under current federal estate tax law there is an exclusion up to $5.12 million in 2012. Taxable estates above this amount are taxed at 35%. This exclusion is scheduled to decrease to $1 million beginning in 2013. The tax rate…
1) Determine if this is an IRS Field, Office or Correspondence Audit With a Field Audit, the audit will be done at your place of business. Most taxpayers requests that the audit be moved and done at your CPA’s office.…
1) Two Simple Questions That Taxpayers Will Need to Answer Carefully This Year Two simple questions were added to the income tax returns last year. These were: “Did you make any payments in 2011 that would require you to…