Tag Archives: irs

How New IRS Rules and Professional Accounting Services Can Help You Increase Your Retirement Savings

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The IRS increased the maximum retirement contribution limit as of January 1, from $17,500 to $18,000. Employees who are at least 50 years of age can contribute up to $6,000 extra to their retirement account as catch up contributions, also an increase of $500.

The new year can mean increased retirement savings, bringing great news to employees and others who are already maximizing their contributions, though just 12 percent of 401k participants were said to have hit that limit in 2013. If retirement is decades away, it can be difficult to get motivated to save, but it’s important to remember that the more you save now, the better of you’ll be in your later years – which tends to come sooner than most of us think. You won’t want to, or likely be able to, live on social security benefits alone.

Of course many people don’t have a retirement plan through their employer these days. If you do, be sure to take advantage of any guidance or even classes that may be offered through your employer to help you make the best investment choices.

For everyone else, as retirement planning can seem overwhelming, you may want to look for some professional assistance to help ensure a better future for yourself and your family. Hiring professional accounting services can help you maximize savings over the long term, making it more than worth the cost.

Utilizing professional accounting services is one of the best ways to create a retirement roadmap, by developing income strategies, planning for survivor ship needs and consolidating your assets.

Of course, finding the right firm to help may also seem like a daunting task. Not only does it require coming up with a list of good potential candidates, you’ll need to find out about their training and experience with financial planning as well as generating retirement income and other critical retirement planning decisions.

The good news is that by contacting Good Accountants, all of that work is done for you. Expert business consultants can assist you with finding the right professional accounting services for your needs with a nationwide registry of the most qualified candidates in your area at no cost to you.

How Accountants for Small Business Can Help You Survive IRS Troubles

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small business accountants can save you from the irsAfter discovering about $450 billion is likely owed and going uncollected, with under-reporting by small business accounting for about $140 billion of that figure, the IRS has been cracking down on small businesses. Since the fall of 2012, the Internal Revenue Service has reportedly sent out letters to some 20,000 small businesses to notify them of possible income under-reporting.

In this case, they are trying to nab businesses they believe have an unusually high number of reported sales through credit card transactions, with the thinking that they are getting a lot of cash transactions that aren’t being reported. It is likely that the IRS will also come up with other methods to go after small businesses to make up for the billions of missing revenue.

The IRS is not an organization that any business, or individual, wants to have to deal with. But if you should get a similar letter, utilizing accountants for small business can be essential to positively dealing with the situation and coming out on top.

Experienced accountants for small business understand exactly what the IRS is looking for and why. If you receive a letter, or are audited, you need an accountant on your side. An accounting expert specializing in a business like yours can help you respond appropriately or represent you in the audit.

If you’ve been handling all of the financial aspects of your business, you’re probably feeling overwhelmed; keeping all of the records straight and ensuring that you’re following all of the IRS rules and regulations is a full-time job of its own.

While you may be pulling your hair out at this point, there is some good news. Fortunately, GoodAccountants.com can help you to find the best accountants for small businesses to ensure your taxes and any IRS issues are handled correctly.

Finding an expert accountant now can also help you be better prepared in the future. The right individual is much more than just a tax preparer, but can also become a trusted advisor helping you to manage cash flow, keep your books in order and plan for growth. This will allow you to take care of your most urgent responsibilities such as earning money for your company, while leaving the majority of the financial paperwork and IRS dealings in the hands of an experienced, qualified accounting professional.

The Best Accountants Can be Trusted with Sensitive Information

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On August 26th, rapper Fat Joe will head to prison after a tax evasion conviction in December of 2012. He will serve four months for failing to pay taxes on over $1 million in income during 2007 and 2008. Failing to pay income taxes is a very serious violation of the law, and Fat Joe might be lucky to only be serving four months.

Where the story interesting, however, is in the fact that Fat Joe is claiming his failure to pay taxes is the fault of a suspect accountant. You would imagine that a millionaire rapper would only employ the best accountantsfat joe could have used the help of the best accountants to avoid jail time, but apparently that is not the case. Either he is not telling the truth regarding the unpaid taxes, or Joe needs a little help interviewing his employees and choosing the best in the field. Surely, he could have afforded an accountant who would ensure that his taxes were paid and that he remained a free man.

This story is relevant to every business owner or manager because almost every business entity has an accountant or a group of accountants working on their behalf. You would hope that you only have the best accountants on your team, but how do you know? If your accountant can’t be trusted with highly sensitive and important information, you could find yourself unwittingly in the middle of a serious problem. Assuming Fat Joe is telling the truth regarding his case,  that is exactly what has happened to him.

Vetting any accountant before they are trusted with your information and tax responsibilities is an important process. You should take the time to check references and work history thoroughly, especially considering how much trust you will be placing in their hands. Using GoodAccountants.com to locate a list of qualified accountants within your area will make finding the best accountants simple and straightforward. Once you have an accountant that you know can be trusted with even the most sensitive of materials, you will feel as if a weight has been lifted off your shoulders. Get started choosing your accountant today to ensure that you don’t suffer the same fate as poor Fat Joe.

Find An Auditing Firm And Make The IRS Disappear

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find an auditing serviceHunters eagerly anticipate the start of deer season. Caterers make extra room in their safes before the start of wedding season. Children across the country don their favorite team’s cap for the opening day of baseball season. However, one season strikes fear into most Americans.
With the April 15 federal tax filing date behind us, audit season is beginning to pick up steam. Unlike deer season, which requires a license, or baseball season, which requires tickets, the only thing you get as a reminder of audit season is a neatly type letter from the IRS. The letters cause the most hardened Americans to run for cover. They panic and throw away the letters, hoping the IRS conveniently forgets about their existence.

The first thing to remember for learning how to find an auditing firm is the IRS does not forget about you.

Yet you have a better chance of becoming involved in a car accident than you do hearing the IRS knock on your front door. Unless you make over $200,000 per year, you have less than a one percent chance of receiving the dreaded audit letter. Even taxpayers who earn $5 million per year only have a five percent chance of welcoming the IRS to their homes.

Nonetheless, you should prepare for an audit by learning how to find an auditing firm. Instead of burning the IRS letter and moving to South America, you can take measures that ensure you garner the best representation in front of the IRS panel that performs your audit. By going to GoodAccountants.com, you take the important first step on the road to taxpayer redemption.

Once you access GoodAccountants.com, click on the audit link to learn how to get five competitive bids for your audit. Make sure you review the video testimonials to hear from people just like you who found the right accountant for their IRS audit. You need to find an accountant whose educational and professional credentials match your unique audit parameters. Look at GoodAccountants.com as an accountant clearinghouse that provides you with the most cost effective way to find accounting experts for private, pension plan, and bank audits.

Staff reductions, coupled with increased workloads have caused IRS audits to decline. Whether the percentage of IRS audits remains low or more resources prompt the agency to ramp up the heat, you should know how to find an auditing firm. Remember that the sooner you act, the better chance you have of finding the best auditing firm on GoodAccountants.com

IRS Scandal Brings Up Financial Concerns for Many: How the Best Accountants Can Help Avoid Those Tax Worries

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best accountantsThe recent IRS Scandal  has many people, including business owners, thinking about their own finances and tax concerns. The news came to light in early May when it was disclosed that the agency had been improperly targeting some conservative groups such as tea party groups who had applied for tax-exempt status.

If you hope to avoid a run in with the IRS, having the best accountants on your side can decrease those odds of being targeted or facing one of many tax issues that can occur.

For a small business as well as an individual, this can make the difference financial success and financial disaster.

A professional, experienced accountant such as those you’ll find with GoodAccountants.com can act as your trusted advisor, helping the business owner to manage cash flow, implement strategies and plan for growth, assess risk and make sure your all of you records are in order. Not only can an expert help save you money by managing your finances and taxes wisely, but a professional can save you hours and hours or precious time and the stress that comes with it.

The best accountants for a small business will understand the dynamics and complex accounting requirements and also have experience and knowledge in your specific industry. Many accountants even specialize in particular industries such as construction or real estate, making them an even more valuable part of your business.

An accounting expert can provide important long-term strategic advice that can help you manage business finances the right way and provide services such as budgeting and forecasting, risk assessment or even advice for starting up a small business.

The expert business consultants at GoodAccountants.com can match your particular requirements with the very best accountants in the nation that will provide the best fit for your business at no cost to you.

With businesses relying on accurate and insightful financial information in order to maintain and increase profitability, capitalize on new opportunities, save money, headaches, plenty of stress – and avoid that dreaded visit from the tax man, a trusted accountant is a must.