The Fourth of July is a reminder they we are a free nation, a freedom that comes with responsibility. I was in the Marine Corps when they celebrated their 200th birthday in 1975, and the patriotism shown that day was unbelievable. Where has it gone since that time? We all need to remember that our […]
You and your spouse operate a business together and are not sure how to report this income to the Internal Revenue Service. There are many choices on how to report this income, and unless another election is made, such as a S Corporation or an LLC, you will normally file a partnership return, Form 1065. […]
When you file personal (filing as a sole-proprietorship), corporate, or partnership income tax returns there are numerous ways that the IRS uses information to track your business. The social security number, federal employer identification number, date of business formation, and also your business activity code. As I will explain the use of the wrong code […]
The tax laws change every year, and more and more individuals are going to tax professionals for both individual and business tax consulting and return preparation. How do you choose a tax professional? What do you look for in how he will represent you and your interests in your dealings with the IRS. Many people […]
Welcome to the BEC blog! Here we will touch subjects and issues most common (and uncommon) in the tax world, new laws, and IRS procedures. Please stay tuned. – Michael Hale
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