Archive for April 2016
Owe the IRS and Can’t Pay? You Have Options.
What happens if you owe the IRS – and you can’t pay? First, be sure to file your return anyway to avoid penalties for nonfiling. Then consider the following options, and choose the one that fits your financial situation. Can you pay off the balance within 120 days? If so, apply for a short-term payment…Read More
Tracking Products and Services in QuickBooks Online, Part 1
Inventory management requires precision, constant attention, and smart decisions. QuickBooks Online can help with tracking products and services. If you started small with your business, keeping track of your product inventory was probably pretty easy. Maybe you kept your stock in a few boxes or a closet, and it was easy to tell at a…Read More
Look Into the Tax Breaks for Supporting Adult Relatives
If you were supporting your parents or other adult relatives in 2015, tax breaks are available that could lower your taxes. You may be able to claim your relative as a dependent, deduct extra medical expenses, or use a more beneficial tax bracket. Claiming a relative as a dependent. An adult dependent’s gross income must be…Read More