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Trusted Answers From Licensed Business Professionals

Should You Elect To Make Roth 401(K) Contributions?

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Most employees are familiar with the concept of socking away a portion of their paychecks toward their 401(K). However, few realize that they also have the option to contribute to a Roth 401(K) plan. In fact, since this new plan became available in the market in 2006, only 11% of eligible employees elected this option. Are you also missing out on a great retirement planning opportunity? Read More.

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Benefit From The 2014 Sales Tax Holiday Season

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The back-to-school sales tax holiday season is upon us. As is customary, we’ve compiled a list of states offering sales tax holidays for paper, pencils, backpacks, clothing and other school supplies. Find out if your state is participating and/or has already released details. Read More.

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How Sales Tax Changes Hurt One Small Business

As we’ve mentioned in the past, nearly half of state revenue is generated from sales tax sources. As such, state auditors have been cracking down on businesses that do not comply with sales tax regulations. Read More.

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Offshore Bank Account Holders May Face Higher Penalties Soon


We are now one month away from the August 4th IRS deadline given to taxpayers that intentionally hid money at 10 offshore banks that are currently under investigation. Specifically, the agency recently announced changes to its voluntary disclosure program that will provide a hard deadline for certain taxpayers to disclose their foreign bank accounts in order to avoid higher penalties. .
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We recently sat down with Roger Russell from Accounting Today to discuss our recently published survey which shows that many of the taxpayers who moved to do-it-yourself tax software came to it from tax prep franchises, not from CPA firms. Read More.

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Are You Getting Enough Value From Your Accountant?

When most of us think about our accountant, filing taxes often comes to mind. However, accountants are trusted advisors that can offer much more to their clients than just preparing tax returns. Recently, we had a chance to speak with Greg Freyman to learn more about his New York City based accounting practice and the ways he is able to offer value to his clients. Read More.

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Are Filers Satisfied With DIY Software or Their Tax Pro?


The debate as to whether you should file your tax return with a professional or utilize do-it-yourself online software (DIY) continues. The trend though indicates that more taxpayers are shifting toward DIY software as per the latest IRS figures. To dig deeper into this trend, we are sharing our results from customer surveys we conducted throughout the 2013 tax year to shed additional light on this apparent market shift in the consumer tax space. .
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Are Condominium Common Area Expenses Deductible?


Many baby boomers that are beginning retirement may be selling their homes to move into a condominium. Others may be motivated to purchase a condo for a secondary source of income. Whichever the case, new condo owners should maximize their tax savings when incurring various expenses. .
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Most taxpayers can finally breathe a sigh of relief after filing their returns on time. However, many may still be a bit uneasy as the concern of a future IRS audit can always loom in the future. .
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