Search results

Hi, its me again, I know all of you know about the regular income tax filing season deadline, and the extension that is available for you if you feel that you will not...

Morning All, Today is March 7, 2014, and we have exactly 9 days which you would have to complete your Corporation Tax Return, and if you mail it will have to be postmarked by Midnight Monday, March...

Hi all, Our March edition of our Tax Newlsetter is available online at our website, www.frankstaxbusiness.com thank you, Franklin Katz, RTRP, ATP, PA, PBFrank's Tax & Business Service315 E. King St.Kings Mountain, NC...

Hi All, From what i see is that what KboeE is talking about is a PAY DAY LOAN, Expensive is not the word, Its like borrowing from a finance company, if you run late or miss a payment, it doubles for the following month and the interest rate is really 100% if you miss for that month. The...

Sorry all, There are going to be a lot of Audits in our business this year, I have heard from a couple of drivers, who I did not do there returns, and they wanted me to help them with the Audit. They did there returns with Turbo Tax. Tax Act, Tax Cut, which are the 3 major over the counter...

Frist of all make sure you have a written contract stating what your responsibilities and what the driver responsibilities are Your responsibility is normally Repairs...

hi Again, You have to remember the Per Diem has to be proved, cause the IRS will actually want weather it be electronic or written logs to prove your deduction. Also, I heard something from a driver for Fed Ex, who is on electronic logs, and he was told to use the Sleeper line all the time...

hi tennessehawk, Since your on electronic logs, and want to take the per diem deduction, make it a point to print out Monthly, Reason, The DOT does not require the companies to keep them on file for more than 6 months, So if you have not printed any of last years you might be out of luck to...

hi jhamlin if your only going to take mileage, you might be introuble due to no other business epenses are not being taken, like cell phone, tolls, per diem if your entitled to it, don;t settle for less than you are entitled to, call me, it might be worth it in the long run Franklin Katz...

It seem that everyone has there own opinion. Since you are actually in a business that is recognized and played around by the IRS as far a audits, are concerned YES, there are some concerns when it comes to mileage, the main cause of question the loss that is is because you are suppose to...

Im about buy a new van, andmaybe put driver in my old van. Will I have to add thier income to my Gross? Can I deduct the mileage from both vans? Or would it be better just to sale it? I really dont want to get myself into somthing turbotax cant handle...

I would have to know what type of Entity you are, Sole Proprietor, LLC, Corp, Partnership, or "S" Corp before I can advise you what you have to do...

According to what you are saying you are home every night, and you travel miles per day, which is considered local and not available for the Per Diem Deduction for reimbursement for Meals at all...

HI ALL. Sorry, your in for a shock!!!!!!!!, #1 if your a courier, and do not go more that 500 miles round trip, and you do not qualify for the Per Diem at all, you are considered a local driver, and your home every night...

Hi all, We have a new website that you can review and download many articles that might pertain to you to complete your tax returns, or can be given to your CPA, EA, or Tax professional. They consist of Federal and State tax forms, instructions, different aspects of tax information on the...

2013 Year-End Tax Planning in January 2014 Many considered Dec. 31, 2013, the final date for year-end tax planning, but there are numerous planning actions that you can take in 2014 retroactive to 2013. Here’s a quick and easy guide to help you with your planning. Retirement Plans •...

Hi All, By now you should of hear from all the e-mails, Newscasts, and other notifications that the income tax filing season has been postponed until January 31, for Individual Tax returns, and the Filing Deadline will still be the same as all previous years, April 15,2014...

Hi All, Here we have the new January Newsletter...

“The Taxpayers Guide to understanding the Importance of Substantiating Business Expense Deduction • §162 Trade or Business Deductions that are ordinary and necessary in order to carry on the trade of business o Ordinary: common and accepted in the particular business activity...

Its True its based by State, that what it is in NC, check out our marketplace at Drake Health Affordable Care Act & Marketplace- Under Age 65, to see what it might be, fill out the information. and calculate it, or send me your zip, age, and Income, what the $95.00 per person is for a tax...