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Every year, the IRS issues a list of tax scams. The goal is to alert taxpayers to the lack of merit of certain strategies as well as letting everyone know the IRS will not accept them. 2006 Scams The IRS has kicked out its annual list of highly dubious tax scams for 2006. Promoters often [...]

As we begin 2005, you’re probably not thinking about taxes at all. This is a mistake as deadlines are approaching for issuing and filing 1099s to independent contractors. What is a 1099 MISC? Generally speaking, the IRS requires you to report certain payments you made during the year to independent contractors. The 1099-MISC form is [...]

The last thing most people think about when starting a business is doing taxes. But proper planning will make doing your taxes much easier – and keep the IRS happy! Here are 3 simple tips for keeping proper records: 1. Whenever you buy anything for your business, keep the receipt! Not only will this make [...]