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Tax Planning

Navigating the Financial Landscape: Accounting and Tax Preparation

Fargo, North Dakota, Moorhead, Minnesota, and Detroit Lakes, Minnesota, are thriving communities with a strong economic base and a growing population. As businesses and individuals in these areas navigate the complexities of financial management and tax compliance, the need for professional accounting and tax preparation services has become increasingly important. In today’s dynamic and ever-changing […]

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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, North Dakota or Detroit Lakes, […]

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Your Guide to Deducting Mileage versus Gas Receipts

Deducting mileage vs gas receipts

If you use your vehicle for business purposes you can either deduct the actual cost (gas receipts) or you can deduct the miles. The IRS does not allow you to do both, using both methods could result in an audit. In both cases you will need to figure out the percentage of use for business […]

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How To Organize Receipts…and Your Life.

How to organize receipts...and your life

Track, Save and Organize Receipts Saving receipts and tracking expenses is critical for all of us to give peace of mind and the ability to quickly reference purchases and budgets. This is especially important for those with a small business. You can maximize your tax savings by properly keeping track of expenses. By developing an […]

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Mastering the practice of retaining records.

Your System for Proper Record Storage When contemplating storing files, some common questions we receive are: How long do I have to keep this stuff? What do I keep? How far back can “they” go? Storing records, having a proper system for storing tax and financial records can feel like a daunting task. We are […]

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