As tax season approaches, it's important to make sure you're filing on time.
Take a proactive approach to tax prep now to avoid the stressful scramble during tax season.
Freelancers generally find they have a more difficult tax situation than most employees.
The processing of your return will be declared by the IRS whenever they say. The IRS stated that the 2018 tax season opened on January 29th.
For practical reasons, filing early generally reduces your stress levels at tax time.
Since a refund takes much longer for paper filers, the IRS and tax professionals recommend electronic filing.
Accounting recruitment has high competition, but the qualified job pool is relatively small. Here are 7 best practices for recruiting...
To lower your taxable business income as much as possible, familiarize yourself with our complete list of tax deductions for small business.
For United States citizens earning income, tax accounting is unavoidable. But what is it?
If you’re using a popular cloud-based accounting app, you probably have access to several integrations. Is it enough? Do you need more?
When you encounter a tax problem of any variety, here are a few steps you can take to resolve it.
Learn how to avoid an IRS Tax Audit with Taxfyle.
If you are an employee, you have certainly noticed the taxes taken from your paycheck every month.
Own a rental property? As you know, the IRS requires you to report the rent you collect and pay income tax on those amounts.
When you work a “traditional” job through an employer, taxes are usually pretty straightforward.
For some businesses, electing to file for S-Corporation will be a wise choice.
Whether you'll be filing an individual tax return, a business tax return, or a combination of both, this can be a stressful time of year.
Finding the right course and taking it seriously could drastically improve your tax preparation practice.
Running your own accounting firm or tax Preparation service is a stable and rewarding career -- but how do you deal with spikes in demand?
The worlds of tax law and financial regulations are always changing. Pursuing your accounting education can help make sure you keep up.
Tax preparation can be a profitable and rewarding gig, provided you’re suitably educated and certified to do it.
What, exactly, is cloud based accounting software, and do you really need it for your business?
Accounting integrations are one of the most important steps for scaling an accounting firm in the modern era. Learn how with Taxfyle!
A part-time accounting job is an increasingly popular option for individuals looking for a new career option or boosting their earnings.
As you look for ways to scale up your own tax preparation business, pay careful attention to how marketing can scale your firm.
The Standard Deduction allows you a deduction even if you have no expenses that qualify for claiming itemized deductions.
Deductible taxes include state and local income tax or sales tax, property tax paid during, and any other mandatory tax charged.
Seven ways to maximize your refund this tax season.
The penalty for filing late is normally 5 percent of the unpaid taxes for each month or part of a month that a tax return is late.
Stay away from these tax mistakes to stay out of trouble with the IRS.
Understanding the differences and commonalities between bookkeeping vs accounting can help your business’s financial strategy.
Virtual accounting gives business owners and bookkeepers an excellent option when it comes to their accounting services.
We have put together a list of seven simple steps that will help you onboard new accounting clients and scale up your business this year.
Accounting can be a highly lucrative career but it comes along with a variety of challenges.
Check out these 8 software applications designed to work for all types of accounting needs and help your accounting team.
Here is our list of the four most common types of bookkeeping systems and how they will work for your business. Learn more with Taxfyle!
Few business practices have as rich a history as accounting. New innovations promise to help today’s accounting firms grow into the future.
The reality is that your accounting firm exists to generate revenue. Improve profit margins to spark change within your firm.
According to the IRS, the busiest day for tax preparation occurs about two months prior to the day federal taxes are due (April 15).
Recruitment costs vary, but the average cost per candidate ranges anywhere from $1,000 to $5,000.
Staffing problems are not unique to accounting firms. Learn how to
From a growing market for individual tax preparation software to a variety of new tools for accounting firms, there’s a lot to learn.
Are you spending enough time, energy, and resources on developing top talent within your firm? If not, it’ll cost you.
Credits are generally created to encourage and reward certain behaviors that have been deemed beneficial by the government.
How do you choose the right virtual accounting firm?
There are many ways for small businesses to enhance their financial standing, but strategic accounting is one of the biggest opportunities.
Accountants are always looking for ways to help clients prepare their taxes, handle IRS letters, and keep their private data secure.
Though there’s nothing wrong with a traditional structure, it’s not designed with every type of company in mind.
At the peak of tax season, the demand on accounting offices can reach unmanageable levels – and in some ways, this is a good thing.
Identifying and assessing potential leaders can help ensure the success of your company.
Learn how to estimate your tax refund using the Taxfyle calculator. Find out what information you need to estimate your income tax refund.
Beginning Jan. 1, 2019, all taxpayers may deduct only the amount of qualified medical expenses that exceeds 10% of their AGI.
Focusing on your retention strategies is the most effective way to minimize the pain of employee turnover.
Tax preparation outsourcing allows you to continue taking on new work without interruption and without making additional hires.
To see if one should itemize their deductions depends if their allowable itemized deductions exceed the standard deduction for the year.
Although many consider outsourcing to be primarily a cost-cutting measure, this strategy offers several other unexpected benefits.
Are you starting a business? Learn which entity is right for you and your business.
The first step is always to read the notice, then review the information and compare it with your original return.
Selecting the correct filing status can be the first important step when properly reporting your tax return.
In order to avoid an underpayment penalty, the government expects to have received a certain amount of money depending on several factors.
A sales tax is a direct tax on the purchase of goods and services that many states and local governments enforce.
A couple of factors have to be determined before you can properly determine whether you are below the income thresholds to file a return.
Without an active extension in place, the last day to file your tax return is the original due date for the return.
The IRS offers an automatic six-month extension to file your taxes known as Form 4868 (Form 7004 for businesses).
When filing taxes for yourself or for your business, it's good to start by knowing what form you will be filing.
Every tax return and supporting forms should be kept. These include 1099s, expense tracking, W-2s, and other documents.
The tax filing due dates are different depending on whether the filing is for an individual or a type of business entity.
Generally the IRS will treat convertible virtual currency as property using established tax principles applicable to property transactions.
If you have ever prepared your own returns you have probably noticed AGI. AGI is basically your total gross income less specific deductions.
Buying a home is a huge investment, and knowing the tax implications attached to this decision can be invaluable.
After you submit your federal tax return to the Internal Revenue Service, you wonder when you can expect your refund.
As you've probably already heard from your favorite news sites, there are some changes in tax refunds this year.
While everyone appreciates a timely tax refund, there are a few situations that might cause a return to be delayed.
With careful planning, you can still legally deduct all of your business expenses and maybe even cover some of your vacation costs.
We've got a few tips and tools to help with the administrative/tax side of things that will help you start getting things under control.
We would like to bring some facts to light that could have an impact on your finances as we start the new year.
As Tax season approaches, we want to make sure you have your taxes filed on time.
The decision to incorporate your business could be a wise one.
We've broken down some of the more salient points to help you understand what to expect in the first year of the new tax law.
The best suggestion when dealing with an auditor in person would be to remain polite and organize all requested information beforehand.
The IRS will agree to work with you to set up a payment plan so the liability can be paid off with minimal hardship.
Determining the exact amount of withholdings you should be making in order to avoid any payment at tax time can be difficult to determine.
There are a number of situations that would prove hiring a professional worth while.
Married couples always have the option to file separately if they wish, however, the question in this scenario is why would they want to.
If you file your taxes but don't pay them, the IRS will charge you a failure-to-pay penalty.
If you owe taxes, it’s the result of your income exceeding your deductions and quarterly payments for the year.
A Social Security tax is the tax used to fund the Social Security program, which is levied on employers and employees.
Managing a firm is hard work and expenses pile up quickly. Here are 4 ways to reduce your overhead costs and help maximize your profits.