The publications listed below are located on the IRS Web site and require Adobe Acrobat Reader to view. Visit the Adobe Web Site to install the latest version of Acrobat Reader. Click a publication to view it online. Tax Glossary Tax Glossary Schedule K-1(Form 1065) Schedule K-1 (Form 1065) Schedule K-1(Form 1120) … Continue Reading
Storing tax records: How long is long enough? Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This is called the “three-year law” and leads many people to believe they’re safe provided they retain their documents for this period of time. However, if the IRS believes you… Continue Reading
Never Hesitate to Ask a Question! QuickBooks users are generally not stumped by the software, they are stumped by the accounting information necessary to complete the transactions. Quick access to correct information is essential to maintain the accuracy of your financial records. Employees in your accounting department will find comfort in knowing an expert in… Continue Reading
Every day the massive computer center at the IRS is getting more sophisticated, it’s just a matter of time before they catch up with you. This is not a situation to take lightly, failing to file your tax returns is a criminal offense. If you do not file, you can be prosecuted and punished with… Continue Reading
A Strategic Business Plan is much more than a tool to obtain financing. If you still have all your plans and ideas locked up inside your head, preparing a strategic plan can help you clarify your company’s direction. It can ensure that your key leaders are all on the same page, and keeps both management… Continue Reading
Gallatin & Nashville CPA answers the question, “Should I hire a bookkeeper?” I hear so many entrepreneurs say they wish they hired a bookkeeper sooner than they did. There are many reasons why business owners are hesitant about hiring a bookkeeper though. Let’s review some of the typical questions business owners have about hiring a… Continue Reading
Each year, the IRS mails millions of notices and letters to taxpayers for a variety of reasons. If you receive correspondence from the IRS here’s what to do: Each notice has specific instructions, so read your notice carefully because it will tell you what you need to do. Your notice will likely be about changes… Continue Reading
