Archive for Author: mksh

Determining What Level of Service is Right for You

Understanding the different levels of service an accountant can provide related to an organization’s financial statements is important when determining what your company may need. Owners may automatically assume that they need an audit but that is not necessarily true. There are three levels of assurance an accountant can...

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Deductibility of Meals and Entertainment

Making sure you get credit for all your deductions is essential when you are running a business. The IRS issued new guidance regarding the deductibility of meals and entertainment expenses in October 2018. The new guidance indicates that taxpayers are still allowed to deduct half of their food and...

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Hiring and Retaining Happy Employees

Your company’s success hinges on its employees. If you have excessive employee turnover, and you are always spending time training new employees, then you are suffering immensely. You are spending out more money than necessary, you see productivity decrease, you have unhappy customers because they aren’t building quality relationships...

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Paying Taxes Overseas as a U.S. Citizen

If you are a United States citizen who is working abroad, you might be confused about how you will be taxed. In this instance, the rules for filing taxes and paying estimated taxes are the same regardless of whether you are abroad or in the United States. Regardless of...

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What is a Tax Treaty?

You have probably heard mention of a tax treaty, but you might not be sure what one is or what it entails. Many countries have entered tax treaties with other countries to avoid or to mitigate double taxation. Depending on the agreement, it can cover a wide variety...

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Tax-Treatment of Year-End Bonuses

Many employers offer Christmas bonuses or year-end bonuses to motivate their employees. Depending on how the bonus gets paid to the employee, it can affect the employee’s tax return and the tax withholding process. One of the main questions both employers and employees face is – “Are bonuses...

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1099 Due Date is Approaching Fast

Now is the time to determine if you made any payments during the 2018 tax year that would require you to file Form 1099. If you paid $600 or more in compensation to a non-employee or an unincorporated business, you are most likely required to report the...

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