The key, as with hiring any professional, is to ask lots of questions. And not just about how much it’s going to cost. Lots questions also apply when hiring a tax preparer. Here’s a list of 10 questions you should ask before hiring a tax preparer: Do you have a PTIN (preparer tax identification number)? Anyone who prepares federal tax … Read More
Five Key Tax Tips for New Businesses
If you start a business, one key to success is to know about your federal tax obligations. You may need to know not only about income taxes but also about payroll taxes. Here are five key tax tips for new businesses that can help get off to a good start: Business Structure. As you start out, you’ll need to … Read More
6 easy ways to prepare for April 15 next year
Many surprises could arise from now until next April 15, including life changes and new tax laws. Right now is the best time to create a system that better organizes your taxes and gets you a head start on next year’s filing. IRS offers some handy advice on how to do just that: Life events may change the amount of … Read More
Missed the April 15 tax deadline?
Pay IRS now if you still owe taxes If you still owe taxes and missed the April 15 deadline for filing and payment, you could be incurring interest and late penalties as you read this. File and pay the IRS pronto! If you file your federal tax return late and owe taxes with the return, these two main penalties could … Read More
Tax season record-keeping stressing you out?
For most of us, tax season means taking that annual trip to ‘the abyss’ That place where filing cabinets, storage containers and even shoeboxes overflow with dusty receipts, insurance records and old tax returns. Considering the sheer volume of record-keeping required by individuals and business owners, here are four tips on which records to keep and for how long: 1. … Read More
Want to make this year’s tax season easier? Get organized
Tax Tips: How to prepare your business for tax season With the April 15 personal tax deadline looming, businesses have until March 15 to file. Luckily, there are many ways to prepare to get you and your business ready for this tax season. Here’s some tax tips from Williams & Kunkel CPAs: 1. Send your own 1099s If you work … Read More
Williams & Kunkel, CPAs LLP client case study TSI
Bill Beatty at Telephone Services, Inc. talks about his accounting, payroll and more. Bill Beatty was working as VP at Telephone Services, Inc. (TSI) in Lewisville when the business came up for sale in 2005, and he jumped at the chance to own it. After all, how hard could it be to own the business after having already run and … Read More