As we’ve warned you before, tax scams are getting more prevalent than ever. Beyond the typical telephone and email scams, tax payers can be scammed by the actual professionals that prepare their tax returns. While its not necessary we always…
Top Five Reasons to E-file Are you still using the old school method of doing your taxes? Do you still mail paper forms to the IRS? If so, make this the year you switch to a much faster and safer…
New IRS EMAIL SCAM similar to telephone scam As we’ve pointed out before, scammers are getting very creative in duping you out of your taxes. These scams can affect anyone, even your own tax preparer! On a personal level, our CPA…
Message to IRS Employees from Commissioner John Koskinen about IRS Budget Cuts Dear IRS Employees, As I promised last month, I am following up with you to share some important new details about what the 2015 budget cuts…
ACA (Obamacare) Brings Changes to IRS Tax Forms This year, there are some changes to tax forms related to the Affordable Care Act (Obamacare). Along with a few new lines on existing forms, there will also be two new forms that…
There are two new directives, first for the fast reaction mechanism aimed towards preventing VAT fraud. Second one is for the optional and temporary application of the reverse charge mechanism in relation to supplies of certain goods and services. Quick Reaction…
Financial statements may be used by different stakeholders for a multitude of purposes. Owners and managers require financial statements to make important business decisions affecting its continued operations. Financial analysis is then performed on these statements, providing management with a more…
Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of…
Value Added Tax (VAT) is a tax on consumption levied in the United Kingdom by the National Government. It was introduced in 1973 and is the third largest source of government revenue after Income Tax and National Insurance. It is…
Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of…