What To Do if You Receive an IRS CP2000 Notice
An IRS CP2000 notice is mailed to a taxpayer when income reported from third-party sources such as an employer, bank, or mortgage company does not match the income reported on the tax return. It is not a tax bill or a formal audit notification; it merely informs you about the information the IRS has received and […]
Tax Credits for Energy-Efficient Home Improvements
Taxpayers making certain energy-efficient updates to their homes are reminded that they could qualify for home energy tax credits. The credit amounts and types of qualifying expenses were expanded by the Inflation Reduction Act of 2022. Taxpayers who make energy improvements to a residence may be eligible for expanded home energy tax credits. What Taxpayers […]
What Teen Entrepreneurs Should Know About Taxes
Teens and young adults often go into business for themselves over the summer or after school. This work can include babysitting, lawn mowing, dog walking, or other part-time or temporary work. When a teen or young adult is an employee of a business, their employer withholds taxes from their paycheck. However, when classified as independent […]
Why You Should Back Up Your Quickbooks File
It shouldn’t take the thought of a natural disaster to make you think about always having a current backup of your QuickBooks information. Files get corrupted. Computers fail and become inaccessible. Hackers can get in and compromise your valuable company information. Once you lose your customer and vendor data and all your historical transactions, your […]
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