Professional Tax Services, Inc.

Tax services, consulting & IRS representation

A Tutorial on Business Entities

A TUTORIAL ON BUSINESS ENTITIES

Sole Proprietorship:  This is a business you operate yourself, in your own name or a trade name, with no partners or formal business entity.  You remain personally liable for business debts.  You report income and expenses on your personal tax return by filing a Schedule C.  You pay self-employment taxes (Medicare [...]

So Far, So Good!

 
So Far, So Good!
Have you heard the one about a man who jumped out off the 20th floor of a building?  As he was falling past the 10th floor, someone yelled out to him, “How’s it going?”  He replied “so far, so good.”
A few days ago I just had a conversation with a new client.  [...]

Office in Home expense

Have you ever heard anyone, including your tax professional say, “don’t take the home office deduction because it is a red flag to the IRS?”  Several years ago there was a lot of emphasis by the IRS on the Office in Home (OIH) deduction and it scared a lot of taxpayers from taking it.  IRS [...]

About

As an Enrolled Agent and consummate tax professional, Bill provides year-round, affordable tax services for his clients. Bill is experienced in small business start-up and tax planning in addition to a full range of tax return preparation.

Subscribe to our feed

Search