Categories for Tax Preparation

What Happens if You File Your Taxes Late?

August 25, 2020

If you fail to meet the IRS deadline for filing your taxes, you could potentially be subject to late filing penalties, unless you have filed a request for an extension. Here’s an overview of what you should know about what could happen after filing taxes late in Union City, NJ. Getting an extension In general, it’s best to file your taxes as early as possible, both so you can get your hands on your tax refund and so you can address any issues that might arise in your tax return as you fill it out. However, should you find yourself... View Article

The Major Tax Mistakes Most Small Businesses Make

June 3, 2020

Running a small business means you have a lot of responsibility, including keeping up with and properly filing your taxes. If you’re not a tax professional, chances are, you find the tax code to be cumbersome and difficult to understand. It’s easy for small businesses to make tax filing errors in Union City, NJ. Generally, the best way to avoid them is to stay organized, always be truthful and hire a tax professional to help you navigate these confusing waters. Here are some of the most common small business tax mistakes in Union City, NJ: Mixing business and personal expenses:... View Article

Tax Deductions That Small Businesses Commonly Miss

May 20, 2020

Keeping up with the tax code is hard enough if it’s your job, but when you’re running a small business, you probably don’t have a lot of time to track down the best small business tax deductions in Union City, NJ. However, there are plenty of deductions that small business owners can take, which will lessen their tax liability and help them increase their profits year after year. When you run a small business, you get to subtract the “ordinary and necessary” expenses that are associated with keeping your company running. If you want to make sure that you get... View Article

The Tax Due Date Was Extended to July 15! Call Today to Schedule Your Tax Appointment

May 6, 2020

As you are no doubt aware, the COVID-19 pandemic has disrupted the American economy, and therefore the ability of millions of Americans to pay their taxes on April 15. With this in mind, the federal government extended the tax file date for 2020 in Union City, NJ, and now the State of New Jersey has followed suit. How will this affect you? Read on to learn more. State and federal tax extensions In late March, at the beginning of the coronavirus pandemic, the federal government extended the tax filing deadline to July 15, 2020, without penalties. That means that instead... View Article

Things You Can Do to Make Filing Taxes Easier for Your Small Business

February 29, 2020

As the owner of a small business, tax season is likely a stressful time for you. When you have so many other things to do to run your business, having to deal with all the tax paperwork can be at best an inconvenience, and at worst make it difficult to focus on other aspects of your company. Even if you’re not working with a tax preparation specialist (and you should probably consider doing so), there are still some things you can do throughout the year to make tax season much easier on your company. Here’s a quick overview of some... View Article

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