Jun 11, 2015 | Federal Income Tax, General Accounting, Used Car Dealership and Financing
June 11, 2015 Inventory Control One of the keys to profitability when selling a retail product is inventory control. Software companies want to tell you to purchase their software saying that it will provide a platform for controlling inventory. And most software...
Jun 4, 2015 | Federal Income Tax, Federal Payroll Tax, Payroll Tax Problems, Tax Planning
June 4, 2015 Tax for Self Employed – How can I reduce my Self Employment Tax Chicago Illinois? Self Employment Tax is one of the major issues that we deal with in Business Tax Preparation. The problem is that it is so expensive in lower and middle income...
Jun 3, 2015 | Federal Income Tax, IRS Audit, Payroll Tax Problems
June 3, 2015 Some of the most challenging issues we handle as small business accountants in Chicago are IRS Tax Problems. These issues come in many shapes and sizes, But primary among them are unpaid payroll and income tax problems. New clients coming into the...
Jun 2, 2015 | Federal Income Tax, Illinois Department of Revenue, IRS Audit, Record Keeping / Bookkeeping
How long should I keep my Tax Records Chicago Illinois? June 2, 2015 You should keep a copy of your Federal Income Tax Returns and the related documents supporting income and deductions for seven years. Under other circumstances, the period is unlimited. If you filed...
May 27, 2015 | Federal Income Tax, Non-Filers
The primary reasons why successful and seasoned business owners have unfiled income tax returns is that their accountant died, retired, or just got too old to be able to handle the job competently. It is difficult to change tax practitioners once you have an...
May 26, 2015 | Federal Income Tax, IRS Audit
Can the IRS audit you two times in two years Chicago Illinois Certainly. There is no restriction in between years. If an IRS Audit has been finished and closed out on one year, they cannot audit the same year twice under the rules of double jeopardy. But they...
