The IRS, part of the United States Treasury Department, is one of the most feared and loathed government agencies. Charged with collecting tax revenues for the United States, the Internal Revenue Service is the US Government’s in-house collection authority. Your Federal taxes and tax forms are sent to the IRS. Even many fees owed to specific departments of the Federal Government will throw through the IRS, as it is the revenue service for the United States, not just the tax collection agency.

IRS Woman

Almost all United States citizens and residents are required to comply with the regulations and reporting requirements of the Internal Revenue Service, reporting income and certain assets on an annual basis. If you have foreign investments, you have additional reporting requirements to avoid onerous penalties and interest.

We help clients with common and uncommon IRS matters. We help them file the appropriate business returns, the 1120, 1120S, or 1065, as well as their personal 1040 tax returns. By staying in compliance, the IRS will generally ignore you, and allow you to pursue your personal and financial affairs without too much involvement with this powerful and fearful government agency.

If you have a business, be certain to make your tax filings in a timely manner. Business owners and some high income wage earners may need to file quarterly estimated taxes. By engaging in regular tax planning and tax compliance, you can avoid complications and penalties that come from non-compliance, while arranging your affairs in a way most advantageous to you and building and preserving your wealth.

Veteran Tax Credits & Deductions

By |2021-11-11T11:02:19-05:00November 11th, 2021|Categories: Quickies with Bette|Tags: , , , , |

Veteran's day 2021 is approaching. The complicated life of military personnel and their families doesn't get any less complex during tax season, so I figured I would try to uncomplicate it for you by sharing some of the unique tax rules that apply to active and retired military. I will also briefly touch on the work opportunity tax credit (WOTC) available as an incentive for employers looking to hire a qualified veteran. Let's get started. 

Tax Deadline is Tomorrow | 9/15 – Video

By |2021-10-01T14:54:10-04:00September 14th, 2021|Categories: #TaxTipTuesday|Tags: , , , |

Hi, I'm Bette Hochberger, CPA, CGMA, and you're concise tax tip Tuesday today is that tomorrow is September 15th is the S-corporation, the partnership, LLCs that are taxed as a partnership. It is your deadline. If you are still working on your stuff, your CPA is very mad at you.

Unpopular Opinion – Tax Refunds

By |2021-09-02T14:24:06-04:00September 2nd, 2021|Categories: Quickies with Bette|Tags: , , , , , |

Hi, Bette Hochberger or CPA, CGMA. And on today's Business Quickie, I'm going to tell you about an unpopular opinion that I have. So I know a lot of people really love getting tax refunds. There are all kinds of ads that say, "how to spend your refund, refund, refund, refund." People can't wait to get that refund check, but here's the big butt, why do I not like it? It's your money. You're not getting free money from the government. You're getting your own money back to you. So my unpopular opinion is don't create these huge tax refunds and don't think your CPA is amazing just because they get you a big tax refund.

Meals, Entertainment, & Tax-Deductions

By |2021-07-07T12:57:14-04:00July 7th, 2021|Categories: Quickies with Bette|Tags: , , , , , , , , |

Hey, guys, happy Wednesday. We're going to hop on with a little business quickie about meals and entertainment because this is a tricky area for a lot of business owners. I know everyone wants to write off every meal possible that they ever have as a business expense and, unfortunately, can't always do that.

Your Start-Up Business Needs A CPA

By |2021-06-29T13:20:20-04:00June 29th, 2021|Categories: Quickies with Bette|Tags: , , , , , , , , , |

Hi, I'm Bette Hochberger, CPA CGMA, and on today's Business Quickie, we're going to talk about six reasons why your startup needs a CPA. Now, I can tell you all sorts of horror stories, and I'm sure you find anyone who started a business. They can also probably tell you many horror stories about not having the right professionals on board, not having an attorney, not having a CPA, all these things. So, if you think hiring a CPA is not worth the investment in your business; here are the six reasons why you should.

Foreign Tax Issues for US Citizens Video

By |2021-06-11T14:15:00-04:00June 11th, 2021|Categories: #FinanceFriday|Tags: , , , , , , , , |

Today on Finance Friday, we discuss foreign tax issues for US citizens with Andre Benayoun JD, BBA. Andre is one of the most brilliant people I know; he is a partner at Marcum Accountants & Advisors and a family friend.

1099-NEC Forms – How to

By |2021-05-05T21:03:43-04:00May 4th, 2021|Categories: |Tags: , |

This video will walk you through the 2020 filing season, so in 2021 new, the 1099 NEC, 1099 Non-Employee Compensation. This form replaced 1099 Miscellaneous, or Misc. So if you have contractors, subcontractors, independent contractors, whatever you want to call them, people who are not employees, not on regular payroll, you're going to need to fill out this form to report what you paid them if it was over $600. So I figured the best thing would be to go ahead and let's walk through it together.

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