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TAKE TIME TO ORGANIZE YOUR TAX DOCUMENTS

Tax time can be a daunting experience for taxpayers who don’t have their tax documents ae organized before consulting a tax preparation firm. But it must be done to ensure that your taxes are in order and that you are getting all the deductions to which you are entitled. The best thing to do is to organize your tax documents … Read More

TIME FOR A NEW YEAR FINANCIAL REVIEW

The beginning of a new year is a great time to review your investment accounts and determine if any changes are necessary. Times change and so do the companies in which you may have your future financial picture involved. A thorough review of your portfolio may determine if you need to makes changes ranging from the amount you need to … Read More

SO YOU SAY YOU WANT TO BE ACCOUNTANT

Counting came easy for you as a kid, math was your forte in high school, and you aced your first accounting class in college. If this sounds like you, accounting may be your calling. Congratulations, you have just embarked on one of the most lucrative, stable professions available to the Americans. But easy there turbo, in the words of the … Read More

ACCOUNTING 101

All about the Paper Some accountants consider a cash flow statement the most important component of a financial statement. A cash flow statement will differ from an income statement by reporting what funds are actually available. For instance, an income statement will not account for revenues that will never be collected, or expenses that have no effect on cash flow … Read More

LUCRATIVE TAX BREAK FOR EXPORTERS

If you export a U.S. made product, then you ought to consider forming an Interest Charge Domestic International Sales Corporation (IC-DISC) in order to maximize profits. An IC-DISC is corporation that elects to be taxed in a unique fashion. Actually, the corporation’s income is not taxed. The earnings generated by the ID-DISC are taxed after they have been distributed to … Read More

R & D TAX CREDIT INTERPRETED WITH LENIENCY BY THE U.S. TAX COURT

A decision issued in Eric G. Suder, et al. v. Commissioner was favorable for businesses utilizing the Credit for Increasing Research Activities (R&D tax credit). For those unfamiliar with the R &D credit, it is tax credit for research expenditures. The recent case helped defined the scope of the term research expenditures, for the court ruled that company’s do not … Read More