getting organized for tax time

Filing IRS Form 2290 To Report And Pay The Heavy Highway Vehicle Use Tax

Trucking companies and owner-operators must pay a federal excise tax annually on road tractors. The tax is assessed on highway vehicles that weigh over 55,000 pounds, so larger buses are taxed also. Anyone responsible for reporting and paying the tax can benefit from learning more about IRS Form 2290. Although the excise tax is assessed on most over-the-road vehicles weighing over 55,000 pounds, exemptions are allowed, including one for vehicles driven less than 5,000 miles annually. Read More 

3 Red Flags To Watch For When Hiring A Tax Preparation Service

You might be surprised to learn that even with the proliferation of DIY tax preparation software the IRS estimates that nearly 50% of individual filers still utilize a tax preparation service. If you are in this group, then there are some things that you need to know when you choose your next tax preparer to ensure that you are utilizing a legal tax service. Here are some red flags that should alert you that the tax preparer you are interviewing might not be legal: Read More 

4 Advantages To Outsourcing Payroll Services Rather Than Leasing Employees

Are you sick of running your employee payroll? Usually you have two major options: you can outsource your payroll services to a company like A & C Accounting & Tax that specializes in payroll or you can just lease your employees outright through an employee leasing program. Though either option will let you avoid wading through paperwork, outsourcing your payroll is usually the better option. 1. You Can Get a Better Quality of Labor Read More 

Caring For A Parent? Claim Them On Your Taxes For Extra Savings

A growing number of middle-aged and older Americans are financially and physically supporting other adult members of their family – often parents and grandparents. There are tax benefits available to help out in this situation, but do you qualify to take them? The Rules for Claiming an Adult Dependent There are two types of dependents: qualifying children and qualifying adults. The rules are similar for both categories, but qualifying relatives generally have a lower income threshold to be considered dependents. Read More 

Confused At Tax Time? Here’s An Easy Guide To Your Form 1040

Every year, most people must complete Form 1040 to file their taxes.  But how much do you really understand this most fundamental of all personal income tax forms?  It can mean the difference between claiming all money you're owed and missing out on some. Page One - Taxpayer Information The first page of the full Form 1040 comprise basically three parts: personal information, your income, and adjustments to that income.  Read More