LAST NEWS

• Health Care Reform

  June.24.2011 Here is a list of the major components of Health Care Reform that are now law and those that will be shortly:
  
  YEAR: 2010
  
  10% excise tax on indoor UV tanning services: July 1, 2010
  Health care coverage expansion to children under the age of 27: March 30, read more

• Record Keeping

  September.05.2011 The basic retention period for IRS documents is three years from the later of the tax return filing due date or the actual filing date.  However, errors on your tax return for over 25% of the tax obligation require record retention of six years.
  
  You should read more

• Most Common Tax Filing Mistakes

  September.05.2011 1. Forgetting a W-2 or 1099 - The IRS matches these forms to your tax return.  If you do not report them properly, you will get an IRS notice in the mail asking for clarification.
  
  2. Duplicate Dependent Reporting - If more than one tax return claims the same read more

• Home Office Deduction for Corporate Owner

  September.05.2011 The best way to claim this deduction is to use an accountable plan.  The accountable plan requires that you, the owner, employee must incur the expenses in the performance of your duteis for the corporation and substantiate the expenses to the corporation in read more

• Small Business Retirement Plans

  September.05.2011 There are five types of Small Business Retirement Plans:
  
  1. Simplified Employee Pensions
  
  2. Simple IRAs
  
  3. Solo and Family 401 (k) plans
  
  4. Profit-sharing plans (self-employed keogh plans and corporate plans)
  
  5, Defined Benefit Plans
  
  The best read more

• Cost of Incorporating in Delaware rather than the Washington metropolitan area.

  January.04.2012 Delaware offers several advantages for incorporation. These include the Delaware General Corporate Law and the flexibility built into the corporate formation process. (more…) read more

• Surviving an IRS Audit in Maryland

  January.04.2012 I have represented several clients before the IRS over my thirty years of experience. I recently represented a client and I am going to describe the procedures required to defend your position before the IRS. (more…) read more

• Recommended Software for Bookkeeping

  January.04.2012 I recommend Quickbooks from Intuit for your bookkeeping needs. Although Quickbooks may be a little more expensive that other comparable programs, Quickbooks has become the standard for small business accounting and it’s the favorite accounting software read more

• Advantages of Conducting Business in Virginia

  January.04.2012 Virginia’s proximity to Washington DC and having the port of Virginia with a schedule of 3,000 sailings a year to ports around the world make it an attractive location to start a business. Fifty-six percent of all United States consumers live within 741 miles read more

• Advantages of Conducting Business in Washington DC

  January.04.2012 Washington DC is the nation’s capitol. It attracts companies from around the United States who want to do business with the federal government. Many of these companies contract business with the federal government and employ thousands of people. It also has read more
See All News >