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Long Term Focus for Small Business

 
 
As a small business owner, it's easy to get caught up in the excitement of an average day. Especially when work piles up in and around the office, entrepreneurs don't always take the time to consider the long term impact of what they're doing. Here are a few things to keep in mind that will help you promote the long term success of your business when the going gets tough:
 
Communication is Key
 
When you're busy with work and expect to be for the foreseeable future, you might notice that you have not been actively communicating with your employees and customers.

Don't be a Victim of Identity Theft

Tips for Taxpayers, Victims about
Identity Theft and Tax Returns
 
FS-2013-3, January 2013
 
The Internal Revenue Service is taking additional steps during the 2013 tax season to protect taxpayers and help victims of identity theft and refund fraud.  
 
Stopping refund fraud related to identity theft is a top priority for the tax agency. The IRS is focused on preventing, detecting and resolving identity theft cases as soon as possible. The IRS has more than 3,000 employees working on identity theft cases – more than twice the level of a year ago.

Where is my refund?

You want to check on your refund? Click on the following link. Make sure you know your infomation such as SSN, filing status and refund amount.
 

55 personal tax deductions

55 personal tax deductions to itemize on your 2012 tax return
 
1. Clothing only required for work that is not appropriate for everyday wear (clothing cleaning expense)
 
2. Accounting fees for tax preparation services and IRS audits
 
3. Alcoholism and drug abuse treatment
 
4. Amortization of premium on taxable bonds
 
5. Appraisal fees for charitable donations or casualty losses
 
6. Appreciation on property donated to a charity
 
7. Casualty or theft losses of personal property

The Top Jobs for 2013

 
Computer System AnalystStruggling to find a job? If you’re an accountant, computer systems analyst or event coordinator, there's a good chance your luck will change in 2013.
 
These three professions are among the best jobs that require a bachelor's degree for 2013, according to a new study byCareerBuilderandEconomic Modeling Specialists Intl.(EMSI).
 
The study used EMSI’s rich labor market database, which pulls from over 90 national and state employment resources and includes detailed information on employees and self-employed workers, to find the 18 top jobs for 2013, based on the occupations with the most jobs added since 2010.

Do I need to file a tax return?

Do I need to File a Return:This application will help you determine if you have to file a federal income tax return.
 
If you do not have to file a tax return, it will help you determine if you should file a tax return to claim any credit or refund that you are due.
 
Information You Will Need:
 
  • Citizenship status and filing status
  • Knowledge of any income you have from outside the United States
  • Federal income tax withheld
  • Basic information to help you determine your gross income
 
 

Calculating your net worth

What’s your net worth?
On the surface, that might sound like a silly question—how many of us walk around knowing the exact figure for the ratio of our debts to our assets? But calculating your net worth isn’t the dry, academic exercise it might sound like. Calculating your net worth means taking a long, hard look in the mirror and accurately assessing your financial situation. It’s the first step on the process towards more advanced financial planning, like saving for retirement or paying off your debts.

Higher 2011 Standard Deductions

Good new for tax filers













Good news!! The 2011 Standard deduction are higher this year!
$5,800 for Single individuals, which is up $100 from 2010.
$8,500 for heads of household, also up $100 from 2010.
$11,600 for Married couples, up $200 from 2010. 
You heard it from the experts at Professional Freedom Tax Service, Inc.

Itemized deductions Vs. Standard deductions

Rome Georgia Tax Service Laws 
Individual tax filers, did you know that when you itemize by saving all your receipts and medical bills and if those expenses do not exceed your 2011 standard IRS tax deduction (Single $5,800, Head of Household $8,500 or Married $11,600) then it will be in your best interest to actually take the standard deduction as opposed to taking the itemized deduction? Let Professional Freedom Tax Service tell you more about it, call us today!
Tax Service Blog

How Early Can You File Your Taxes Each Year

Georgia Tax ServicesWhen it comes to filing taxes, some people cannot wait to get it over with. Whether it is because you don't want to worry until April, or because you have a huge refund coming, earlier is certainly better when filing taxes. The earliest you can file your taxes depends on when you get the proper documents. The IRS will allow filing sometime around the 8th of January, but W-2 and other forms are not required to arrive until the 31st of January. If you have any other questions, please contact a professional tax accountant that can help you with filing.
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