Q & A and Tips on Accounting, Taxes and Personal Finance.

Author Archive: Jim Berry

Drawing from the professionals on www.BookkeepingHelp.com, Jim Berry shares his members’ experiences, wisdom and advice through brief posts designed to inform, educate and even affect change.

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Being Proactive in your Tax Life

Being Proactive in your Tax Life

Being proactive in your tax life – TIPS Tax season is already in full swing. By the time you read this article you should have received most, if not all, of your tax documents. Be kind to your CPA, please do not wait until the last minute to drop off your items. A recurring issue […]

February 12, 2019 | By More
2014 Tax Return – What To Expect

2014 Tax Return – What To Expect

If you don’t like surprises at tax time; typically put off your tax return filing until the last minute or do not normally have your year-end paperwork in order, this post is for you. Lisa M. Stiffler – Enrolled Agent, of Lisa M. Stiffler, Inc discusses what you can expect this filing season to ready […]

January 19, 2015 | By More
Year-end Tax Saving Tips

Year-end Tax Saving Tips

With only weeks remaining in 2014, it’s time to review some year-end tax saving tips that can benefit you both now and in the future. Harry Hunter of Hunter Consulting shares some last minute moves you can make to save taxes – both on your 2014 tax return and in future years. Harry:  Maximize the standard […]

December 2, 2014 | By More
Independent Contractor vs. Employee

Independent Contractor vs. Employee

With today’s technology and ease of communication, employers often hire independent contractors who work remotely – the obvious benefits are cost savings on a number of levels including employment taxes.   What determines an Independent Contractor vs Employee?  Dave Heistein of Profitwise Accounting, Inc. in San Diego discusses this often murky subject. Dave:  At first glance, […]

November 21, 2014 | By More
Bookkeeping and Accounting – what are the differences?

Bookkeeping and Accounting – what are the differences?

Business owners often feel there is little difference between bookkeeping and accounting. Popular accounting software like QuickBooks allows business owners to produce their own P&L and balance sheets, but is this all there is to it? Tu Dao, a CPA in Houston, Texas discusses the differences between bookkeeping and accounting, and how the evolution of […]

September 18, 2014 | By More
Estimated Taxes

Estimated Taxes

September 15, 2014 is the due date of the next scheduled estimated tax payment for individuals.  What exactly are estimated tax payments and why would you have to make them? “This question comes up each year”, says Harry E. Hunter, President of Hunter Consulting.   Harry talks about estimated taxes, what they are and who must […]

September 8, 2014 | By More
Clergy Taxes – Unique tax status of ministers and religious workers

Clergy Taxes – Unique tax status of ministers and religious workers

Clergy, ministers and religious workers are accorded some unique tax deductions, allowances and benefits.  How are clergy taxes different?  George Martinez, CPA of Glendale AZ, talks about the unique tax status of clergy and churches. George:  Churches and their Ministers have many misunderstood tax peculiarities.  Churches enjoy three primary federal tax benefits which distinguish them […]

September 8, 2014 | By More
Expat Taxes – Paying U.S. Taxes While Living Abroad

Expat Taxes – Paying U.S. Taxes While Living Abroad

According to the IRS, a U.S. citizen living abroad must follow the same rules for filing income, estate, and gift tax returns and paying estimated tax as if they lived in the United States. In many cases, tax returns must also be filed in the country of residence, creating a double whammy of frustration and […]

August 20, 2014 | By More
How long to retain records for tax purposes?

How long to retain records for tax purposes?

You’re determined to finally clean out that overflowing file cabinet chock full of records and documents saved for tax return support.  Has enough time passed?  Can your shedder finally get a good workout?  Harry E. Hunter, President of Hunter Consulting discusses document retention and how long to retain records for tax purposes. Harry:  One of the most […]

August 11, 2014 | By More
Divorce and Taxes – Tax Implications Of Divorce

Divorce and Taxes – Tax Implications Of Divorce

Divorce, already emotionally stressful, can also wreak havoc on your finances. It’s easy to overlook the tax implications of a divorce while dealing with the emotional parts. Taxes after divorce present a myriad of issues from tax filing status to alimony. Linda Smith, Enrolled Agent and Certified Divorce Financial Analyst, lays out some commonly overlooked […]

July 18, 2014 | By More