Yearly Tax Advice for Bloggers
Blogging, as a new profession, has the same tax laws that govern many other occupations. By taking advantage of certain tax deductions, you may be able to reduce your yearly tax burden. A new career, blogging, has the same tax regulations that apply to many other professions. The main concern from a tax aspect is […]
3 Basic Types of Taxes
A lot of taxes can be classified into three types: taxes on your earnings, taxes on your expenses, and taxes on your property. It is vital to remember that every single money you pay in taxes is hard-earned money. And knowing the basics of taxes will not just guide you in paying them lawfully, but […]
Eyes Here: 9 Key Errors in Filing Taxes PLUS How to Avoid Them
We have an announcement to make. The IRS has just changed the date of filing taxes or making a request for an extension. Mark this date: April 18, 2022. Are your documents complete? It is important that they are so that processing delays could be avoided. Do you know what these delays could result in, […]
4 Tax Planning Strategies for Your Small Business
Every citizen has to pay government taxes, whether you’re a corporate worker, part-timer, or small business owner. However, there are strategies that you can use to plan your taxes and get the most out of the money you are receiving. With tax planning, you can strategize how you use your revenue to save on taxes. […]
End of Year Tax Planning – Is Your Business Ready?
With the new year comes a new tax season and with that, year-end tax planning. So, as small business owners, you have to plan your taxes correctly to keep more of your hard-earned profit. With that said, Mount Pleasant NC CPA Susan Gordon Lee shares a few tips to get your business ready for the […]
4 Red Flags That Could Trigger an IRS Small Business Audit
Many people feel stressed out and anxious during tax season. Some are worried that they might owe money or that they haven’t done their taxes right. Others worry about whether or not they will get a notice that says they are tagged for an IRS small business audit. The truth is that most people can […]
5 Tips to Save on Small Business Taxes
If you’re a small business owner, you know that every dollar matters – especially when it comes to your taxes. Whether your business is a corporation or a partnership the government offers some sizeable deductions to lower your liability, allowing you to put those precious dollars toward your capital and employees. Looking for ways to […]
Got a Notice from the IRS? Here’s What You Need to Know
Reaching into their mailbox and pulling out an envelope with the three letters, ‘IRS’, makes many people sweat, and some even go into full-blown panic. However, receiving a notice from the IRS doesn’t automatically mean bad news. Each year, the Internal Revenue Service (IRS) sends millions of letters and notices to taxpayers – and not […]
The Different Types of IRS Audits
Hearing the word ‘IRS audits’ can make even the toughest people break out in a sweat. But a little understanding about what these audits are – and how the IRS works – might help ease some of your worries. As your dedicated Mount Pleasant NC CPA, Susan Gordon Lee wants to help you better understand […]
Does Your Individual Taxpayer Identification Number Need to Be Renewed? The Renewal Process
Has your Individual Taxpayer Identification Number (ITIN) expired (or is about to)? Here, we outline everything you need to know about Individual Taxpayer Identification Numbers (ITINs) and the renewal process. What is an Individual Taxpayer Identification Number (ITIN)? The Individual Taxpayer Identification Number (ITIN) is a tax processing number from the IRS. The IRS […]