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Company Loans
Sometimes to keep your cash flow moving, you may need to loan your Company money. This is perfectly legitimate, but make sure there is a written promissory note, with some reasonable interest rate, and some reasonable payment schedule. I would recommend 1+prime...
Accountable Plan
If you reimburse employees for mileage, educational classes or other business expenses, you need to have a policy called an Accountable Plan. If you do not have one, the IRS can re-classify all these reimbursements as taxable income. This does not need to...
Total Professionalism
According to a study released by the US Government’s General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.