Filing Status Options Available To Married Individuals Contemplating Divorce
Most happily married couples choose to file a joint income tax return. However, a serious rift in a marriage relationship can raise doubts about future prospects. Married individuals contemplating a possible future divorce have two additional filing status options in addition to continuing to file jointly. For tax purposes, marriage status on the last day of each year determines which filing status options are available for that year. If a joint return is ever audited, both individuals are responsible for paying any additional assessment.
How Accountants Can Improve Business Efficiency
Even if you have some solid financial skills, hiring a professional accountant to help out your business is a good idea because it can improve your business' efficiency in several ways. Here are some major benefits to signing on with an accounting firm. Acting as a Sounding Board If you have an accounting question, such as a question about audits or tax preparation, you could potentially spend hours looking up the answer yourself.
3 Solid Reasons Your Small Business Should Consider The Services Of An Accountant
Small business owners are often responsible for a number of duties that people who run larger establishments may delegate to other individuals or departments. The business structure and profits of small businesses may interfere with small business owners being able to hire employees in-house to perform tasks such as payroll. This can create issues and some of the issues created may lead to legal issues or battles. The following information will help you understand why it is worth considering outsourcing accounting duties, to a place like Waggoner Frutiger & Daub CPA's, if you own a small business.
3 Tips To Make Accounting Easier When You Work With Foreign Contractors
With the Internet making international business transactions quick and easy, it is likely that you will eventually conduct business with an individual or company outside of the United States. Whether your main supplier is located in another country or you are working with a traveling web designer to build your website, there are several things you should keep in mind when dealing with foreign entities to make filing your taxes easier.
How To File The Final Income Tax Return Of A Decedent
A final income tax return is often required for the year in which an individual dies. The income thresholds at which returns are required apply to both living and deceased individuals. Spouses or personal representatives of decedents are responsible for fulfilling the final income tax filing obligations of a departed individual. A decedent is taxed as an individual only on income received before the death. The estate of a decedent is a separate taxable entity that is responsible for income received after the date of death.
