Latest Posts on Uncategorized

  • Costco, Turbo Tax and Other Bad Tax Decisions

    May 12, 2011 | Posted in Diane's Blog, USATaxAid's Blogs, Uncategorized

    Tax is tricky. Every day I wade through at least a half dozen court cases, memorandums, revenue rulings, revenue proceedings and Treasury Regs. We use expensive tax preparation software at our firm. Our tax preparers have graduate level college education and credentials and an average of 20 years of experience. So I’m always a little skeptical when I see people who insist on preparing their own tax returns if there is any level of... Read More »

  • Last Minute Pension Plan Choices

    April 11, 2011 | Posted in Business To Investment, Diane's Blog, Insider's Club, USATaxAid's Blogs, Uncategorized, Video, Wohlner Financial

    We’re getting down to the wire for filing your 2010 Form 1040 Individual Income tax return. If you don’t have all your information together yet or have any questions on how to file something, file an extension. In fact, there is any question whatsoever…file an extension. There is one action you do need to take right away. Fund your IRA. Generally, you have until the filing date of your... Read More »

  • Your Tax Return is Due but You Forgot to Make Your S or C Corp Election. Now What?

    September 3, 2010 | Posted in Megan Hughes, USATaxAid's Blogs, Uncategorized

    The tax return doors have burst wide open, with folks rushing to catch the Sept 15th deadline for partnerships and S Corp returns (and C Corp returns, if you have a 3/15 year-end). This is also the time of year that many new business owners start to get letters from the IRS saying (more or less) “We’ve received your return, but have no record of your company making an S Corporation or a C Corporation... Read More »

  • Get a Loan in Today’s Market

    August 25, 2010 | Posted in Diane's Blog, USATaxAid's Blogs, Uncategorized

    Crazy, but true. A Line of Credit is easier to get in today’s market than a home loan is. I have two clients who are in the process of getting loans: Client #1: Credit that has taken a few dings and needs a line of credit for his business. Client #2: High 6 figure income and stellar credit and has been turned down 6 times for a modest home refinance. Client #1 signed... Read More »

  • 2010 Creating Cash Flow Slow

    August 9, 2010 | Posted in Diane's Blog, USATaxAid's Blogs, Uncategorized | 2 Comments

    There a lot of people out there who want to help you create cash flow quick. The question, of course, is whose cash flow they want to improve when the only goal seems to be to sell you a pricey seminar, course or consulting program. But, don’t get me wrong – I believe in education and believe you need to pay to get quality education. But it’s not worth anything if you don’t put... Read More »

  • What Creates Sales Tax Nexus

    August 3, 2010 | Posted in Diane's Blog, USATaxAid's Blogs, Uncategorized | 1 Comment

    Of the two types of nexus: sales tax nexus and income tax nexus, the easiest type of nexus to get (without even meaning to) is sales tax nexus. If you have a business presence such as a sales office or warehouse, you clearly have nexus because you have a physical presence in that state. This all goes back to a pretty famous court case in our circles: the 1992 Quill... Read More »

  • The Coming Tax Tsunami – Nexus

    August 2, 2010 | Posted in Diane's Blog, Law Forum, USATaxAid's Blogs, Uncategorized

    New taxes right and left from Congress, expiring tax cuts, estate tax coming back with a wallop, Social Security hits annual deficit for the first time – what’s left in the tax world? Nexus. If you don’t know what nexus is, or care, then this article is for you! Nexus means connection. If you have connection, or nexus, with a state, then you’re going to owe that state some taxes. Read More »

  • Why Do Business Owners Have More Money?

    July 27, 2010 | Posted in Diane's Blog, USATaxAid's Blogs, Uncategorized | 6 Comments

    One of the real life stories from Smart Business Stupid Business is about a client of mine who went from employee to business owner and discovered $10,000. Before he lost his job, he was making $50,000 per year as a middle manager. His credit cards were maxed out and he worried everyday driving to work because his tires were shot. If he lost a tire, he’d have no way to buy another. Then... Read More »

  • Two Ways To Put Money In Your Pocket

    July 26, 2010 | Posted in Diane's Blog, USATaxAid's Blogs, Uncategorized

    Want to be $1,000 richer this Friday? Sure! Who wouldn’t? There are two ways to make that happen: make more money or pay less in expenses. If I stopped there, though, this would be the shortest blog post I’ve ever written. This week we’re going to take a bit of a departure from taxes to talk about how to put more cash in your pocket. If you pay less taxes, you’ll... Read More »

  • July 27, 2010: Discover Your Hidden Business Deductions

    July 18, 2010 | Posted in Uncategorized

    There are only a couple of ways to lower your taxes: make less money (bad choice), or find more deductions (good choice!). In this coaching session we're looking at deductions - how to determine what is and isn't deductible, how to maximize your existing write-offs, and how to find new write-offs that you may not know about. This coaching session features an audio file for you to download and listen to, along with an eBook you... Read More »

  • The New Test Every Tax Strategy Must Pass

    June 9, 2010 | Posted in Diane's Blog, USATaxAid's Blogs, Uncategorized

    The new Health Care Bill had plenty of hidden tax traps in it. It makes sense that we’re just now discovering how much this is going to impact the small business owner since, after all, the Bill was over 2000 pages long and it’s going to take a while to go through it all. One of the new standards we have from the Bill is Economic Substance. This has always been the rule,... Read More »

  • 85% of Businesses Get This Wrong

    June 3, 2010 | Posted in Diane's Blog, USATaxAid's Blogs, Uncategorized

    If you have a business, you might be more at risk then you know from taxes you thought that only applied to the big boys. But this is one that the big guys are getting wrong too. It’s estimated that 85% of all businesses have made one critical mistake in their tax planning. They have forgotten about nexus. Nexus means connection. If you have connection to another state, then it... Read More »

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