IRS Warns of New Phone Scam

IRS warns of new phone scam involving bogus certified letters; reminds people to remain vigilant against scams and schemes this summer. The IRS has published a warning about new tax scams that are circulating this summer. Most of the scams still involve phone calls from people pretending to be IRS reps, but there are new twists this summer.  Contact Carpenter, Evert and … [Read more...]

Do You Need Professional Tax Help?

Not sure if you need professional tax services? Answer yes or no to these questions to find out if you need professional help: Have you had a major life change this year? Think marriage, divorce, new baby or college. Did you buy or sell a home, or move to a new state this year? Did you receive investment income in 2015? Or did you lose money on investments? … [Read more...]

Capital Gains and Losses – What you Need to Know at Tax Time

When you sell a capital asset, the sale results in a capital gain or loss. A capital asset includes most property you own for personal use or own as an investment. Here are 10 important facts you should know about capital gains and losses: Capital Assets.  Capital assets include property such as your home or car, as well as investment property, such as stocks and … [Read more...]

Important Tax Deadlines for Businesses and Individuals

Between now and April 18, there are a number of tax deadlines that businesses and individuals need to put on their calendars. MARCH 15 Partnerships. File a 2016 tax return (Form 1065). Provide each partner with a copy of Schedule K-1 of Form 1065. To request an automatic 6-month extension of time to file the return and provide Schedules K-1, use Form 7004 to extend … [Read more...]

What Self-Employed Taxpayers Should Know About Filing Their Tax Returns

  The IRS offers these 6 tips for self-employed taxpayers: If you are an independent contractor or run your own business, there are a few basic things to know when it comes to your federal tax return. Here are six tips you should know about income from self-employment: Self-employment income can include income you received for part-time work. This is in … [Read more...]

IRS Warns Taxpayers of Summer Surge in Automated Phone Scam Calls

On Tuesday, the IRS issued a new warning about recent phone scams. Read the details in this press release from the IRS. WASHINGTON — The Internal Revenue Service today warned taxpayers to stay vigilant against an increase of IRS impersonation scams in the form of automated calls and new tactics from scammers demanding tax payments on iTunes and other gift cards. The … [Read more...]

Record Retention for Businesses – Don’t Get Buried!

Guidelines for Business Record Retention As your business grows, it is hard to keep track of all the paperwork that comes with owning a business. Having a record retention schedule for document storage can save a lot of space and headaches. Carpenter, Evert and Associates has compiled a comprehensive list of business documents and guidelines on how long to store the … [Read more...]

Small Business Week – Helpful Resources for Entrepreneurs

It's National Small Business Week! Sponsored by the Small Business Administration, this week celebrates the American entrepreneurial spirit with events throughout the country and access to vital information that every small business owner needs. Whether you’re starting a new business or managing an existing one, you need as many resources as possible to help you … [Read more...]

New IRS Security Measures Aim to Keep Taxpayers Safe

From the Internal Revenue Service: The Internal Revenue Service has taken new steps for 2016 to protect you and help reduce the risk of identity theft this filing season. It’s no secret that identity theft of all kinds is persistent, time consuming and frustrating. When criminals steal your personal data (especially your name and Social Security number) they can use … [Read more...]

Tax and Accounting News for Small Businesses

A Dozen Deductions for Your Small Business By Dana Dratch at Bankrate.com Small-business tax rule No. 1: Don't mess with the IRS. But that doesn't mean you should cheat yourself. Take every legal deduction you can. Here are a dozen that even savvy small-business owners and entrepreneurs sometimes forget.?>>> Read More 5 Tasks Entrepreneurs Are Better Off … [Read more...]