Archive for February, 2016

Q & A and Tips on Accounting, Taxes and Personal Finance.
IRS Phone Scams – The IRS will never call you

IRS Phone Scams – The IRS will never call you

The IRS reminds people that they can know pretty easily when a supposed IRS caller is a fake. Here are five things the scammers often do but the IRS will not do. Any one of these five things is a tell-tale sign of a scam. The IRS will never: Call to demand immediate payment, nor […]

February 10, 2016 | By More
Forecasting Can Save Your Business

Forecasting Can Save Your Business

There’s no doubt that poor planning can sink your business but what is the alternative? How do you plan for the unexpected? What measures will keep your business afloat and send those warning signals before it’s too late? Melissa Rascon – CPA of The Rascon CPA Firm PLLC of The Woodlands, Texas discusses the importance […]

February 9, 2016 | By More
IRS Notices – Do’s and Don’ts

IRS Notices – Do’s and Don’ts

Receiving a letter from the IRS can make your blood run cold. A smart response strategy can lessen the stress, but where to begin? David Leichter CPA of Pikesville Maryland discusses his experience with delinquent taxpayers, and offers some “do’s” and “don’ts” for dealing with the IRS. David: I’ve been working as an accountant for […]

February 9, 2016 | By More
Tax Audit – What are IRS CP2000 Notices

Tax Audit – What are IRS CP2000 Notices

If you have received a CP2000 Notice from the IRS it means they have reason to believe you have underreported income. The IRS compares the information reported by employers, banks, businesses, and other payers on income documents like the Forms W-2, 1098, 1099, etc., with the income, credits, and deductions you report on your income […]

February 9, 2016 | By More