Businesses and individuals operating foreign bank accounts should pay close attention to whether they are required to report this financial data. The IRS has guidelines in place that determine whether someone should be disclosing this information while filing their tax returns. If you feel like you may be required to report this as taxable income, […]
Archive | Taxes
How Will The Payroll ‘Tax Hike’ Affect You?
Please welcome Deirdre Morhet as our accounting expert. She is the owner of BASC Expertise, a full service accounting firm based in Chandler, Arizona (a suburb of Phoenix.) She will be providing insights on taxes and other accounting issues that pertain to business owners, families, and individuals. According to the Washington Post, the payroll tax […]
Did You Get Your Tax Returns Filed On Time?
If you did not file your taxes on time, it’s too late to file an extension. Trust me, I once filed a late extension and was sent a letter saying that they would not accept my request since it was late. What’s even worse is that I also found out the hard way that there […]
