Planning for Disasters

Planning for Disasters

The Atlantic Hurricane season begins June 1st and many of our clients are reaching out to us to see what they can do to be prepared. Hurricanes, fires, floods, tornadoes, and other severe weather can cause damage to your home or business.  Disasters can happen to...
How long do you have to keep tax records?

How long do you have to keep tax records?

You’ve filed your tax returns and they’ve been accepted.  Now what?  Your tax return and all supporting documentation are lying in a pile on your desk.  If you’re tempted to just put them in a paper bag and store them under your desk or in the attic.  Don’t. Our...
Tax Tip: Is it a hobby or a business?

Tax Tip: Is it a hobby or a business?

Many of our clients look for ways to supplement their income. Is it a hobby or a business? Sometimes it’s unclear whether you are a hobbyist….or a business owner. This post from the IRS will help to explain the IRS businesses vs hobby rules. From the IRS:...
What To Do When You Receive A Letter From The IRS

What To Do When You Receive A Letter From The IRS

Our clients get very nervous when they receive letters from the IRS. It’s best not to panic, this post shares information from the IRS as to what you should do, if you receive official correspondence. From the IRS: When an IRS letter arrives, taxpayers don’t...