Standard deduction amount increased. For 2024, the standard deduction amount has been increased for all filers, and the amounts are as follows. The standard deduction increases by $1,400 for a married taxpayer aged 65 or older or blind ($2,800 if both 65 and blind); by $1,750 for a single
As a small business owner, you’re juggling countless tasks to keep your business running smoothly, but managing your finances shouldn’t be one of them. Hiring a skilled bookkeeper not only frees up your time to focus on growing your business but also ensures your financial records are accurate and
Voted Best CPA Firm Hendersonville TennesseeWe are thrilled to have been selected as the Best Accounting and Tax Firm in the Best Of Awards in Sumner County hosted by Main Street Media of Tennessee! We are grateful to everyone who voted for our firm. TriStar Tax and Business Solutions has won the
Getting a bill for an unexpected expense can put a significant dent in your business’s cash flow. Here are some tips your business can use to deal with a surprise bill. Stick to a reconciliation schedule. The best advice is to be prepared for the unexpected. Do this by knowing how much
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 GlossarySchedule K-1(Form 1065) Schedule K-1
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
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
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
