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The Taxpayer Bill of Rights

the taxpayer bill for rights

Did you know there is a Taxpayer Bill of Rights? These rights were adopted by the Internal Revenue Service in 2014 and have been shared extensively on a continuing basis with IRS employees since them. The best part is that whether you are paying taxes for income earned in Fargo, […]

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Preparing For Your Tax Appointment

preparing for your next tax appointment

The best way to prepare for your upcoming tax appointment is to gather and organize your information. As your trusted advisors for tax preparation, we will guide you and make your tax season simple and smooth. What to Bring to Your Appointment For Personal Items January 31 is the guideline […]

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The Benefits of Owning an S-Corp: W2 Wages

s-corp benefit: w2 wage

Income and Expense through W2 wage When you are an active shareholder with a W2 wage through your S-Corp it becomes personal income and a business expense. Your salary must be reasonable compensation, you can utilize then benefit of being an employee through your corporation or LLC. “How does this work” […]

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When do you need a CPA?

When do you need a CPA

The answer is very simple, you need a CPA whenever you need to convince someone else; like a banker, investor group, or the government that your accounting system produces accurate, reliable information in the opinion of an independent expert who is not your regular accountant or accounting department. Did you […]

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What is a 1099, and When do I Need One?

what is a 1099

1099 Your Subcontractors When hiring a subcontractor to do a job for you, you will need to issue them a 1099 for all services over $600. Some people hire a construction contractor, plumber, landscaper, and electricians. All of these professionals should be issued a 1099-Misc for services completed and paid. Each […]

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Deduct Medical Expenses in Your S-Corp

Deduct medical expenses in your s-corp

You can get reimbursed for Medical Expenses! This is an expense to the business which brings down the taxable income for the company. The payroll that is issued is not subject to Social Security and Medicare tax so the company saves on payroll taxes each year. In turn, you get reimbursed for […]

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