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FAQ 2018-02-07T15:10:41+00:00

Why would I need to file for an extension on my tax return?

Extensions are for the filing of the return, not extending tax due.  The tax is due April 15th.  Our goal is no extensions, however, there are times when the information necessary to complete the return is not currently available.  The return must be extended until that information is obtained.

Does every business need to use QuickBooks?

QuickBooks is a great resource for many small businesses.  It not only provides the accounting data for tax purposes, it also provides management data to help the owners efficiently operate the business. 

My business is growing, how does this influence the way I file my taxes?

As a business grows, the owner’s attention should focus on cash flow to operate the business.  The current legal entity could be reviewed to determine, based upon present tax laws, if a change in legal status would result in less tax, therefore, more cash for the business.   

Is it necessary to file taxes jointly if I am married?

For every married client, we review married filing jointly vs married filing separately to determine the best filing status.

How much can I write-off per year with my business?

Every expense necessary to operate a business is a 100% deductible expense, except meals and entertainment which are 50%, and capital expenses which are depreciated. 

How do I choose which version of QuickBooks to use?

The type, size and complexity of the business will help determine which version of QuickBooks o use.

If my taxes are files by the April 15th, if I owe the IRS, when is the due?

The due date for the payment of personal income tax is April 15th.