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Self-Employment Taxes: How To Make Your Tax Filing a Breeze

Self-employment offers freedom and flexibility, but it also comes with a big challenge when tax season rolls around. Unlike regular employees who have taxes automatically deducted from their paychecks, self-employed…

What exchange rate should be used when filing my return?

…annual exchange rate, your income and expenses need to be earned or paid evenly throughout the year. The IRS average annual exchange rates for most currencies are posted here: https://www.irs.gov/individuals/international-taxpayers/yearly-average-currency-exchange-rates

Understanding Tax Return Preparer Credentials

…Special Enrollment Examination, a comprehensive exam that covers individual tax, business tax and representation issues. They complete 72 hours of continuing education every 3 years”. Enrolled Agents are the “blue…

Common Income Tax Misconceptions

…and was told I can take dividends in lieu of wages and save myself payroll taxes”. In regard to monies paid to shareholders/employees of an S Corporation, reasonable compensation must…

Introducing America’s Tax Experts – Here Are The Enrolled Agents

…prepare tax returns for individuals, partnerships, corporations, estates, trusts, and any entities with tax-reporting requirements. EAs’ Continuing Education (CE) requirements ensure they have the knowledge to effectively represent taxpayers audited…

Tax Appeal Process – Latest Things You Need To Know

…to discuss all disputed issues at the conference. Most differences are settled at this level. Only attorneys, certified public accountants or enrolled agents are allowed to represent a taxpayer through…