I recently read that 95% of small businesses fail within the first 5 years due to either bad management, under capitalization, or some combination of the two. Tax issues for small business owners have the same roots. Bad record keeping is often a sign of bad management. Mileage is one of the most highly scrutinized… Read More

I mentioned in the last post and the one before that that during tax season we require a non-refundable deposit at the time of your intake appointment. Some of you may be wondering why we do that. The short answer is that one tax season I got burned by several “clients.” They came in during… Read More

Still shopping for a #taxpro? Give #TaxTherapy a call! Are you thinking of going from doing it yourself with box software to hiring someone to help you? Did your preparer from last year retire? Get indicted? Die? Hey! It happens! Right now we are still taking appointments for potential clients who are evaluating their options.… Read More

Are you ready?! We are. Reminder postcards for returning clients and new clients who onboarded over the summer and fall will be mailed tomorrow. On Monday, Cat will be here to start answering calls and e-mails and getting organizers delivered. The organizer contains our annual engagement letter, a copy of our privacy policy, and an… Read More

The IRS is opening e-filing for business returns soon and e-filing for individual returns will open a couple of weeks after that. Here at Tax Therapy we are about ready to open our season for new and existing clients. Existing clients will receive a reminder postcard and e-mail letting them know that they can call… Read More

And it’s a doozy! Every year Kelly Phillips Erb (a.k.a. The Tax Girl) posts a list on Forbes.com of the Top 100 Must-Follow Tax Twitter Accounts. For 2020, I’m on it! Mostly this list is for tax professionals (nerds) rather than taxpayers but it is an honor to be included and as you can see,… Read More

  Next time you think a #taxpro “just puts numbers in boxes” consider this map. Now, there are some people who call themselves taxpros but who won’t help you once you are out of that first green box. Those are the ones who put numbers in boxes and disappear when you have a problem. Unenrolled… Read More

In support of National Small Business Week, May 5-11, the Internal Revenue Service is emphasizing the many IRS online resources available to help small business owners and self-employed individuals handle the tax aspects of their business. For more than 50 years, the week has recognized the important contributions of America‚Äôs entrepreneurs and small business owners.… Read More

The raging started around the second week of February and it continues online and in the offices of #taxpros around the country right now. Many taxpayers are furious that they are not getting as much back on their income tax refund as they were expecting or worse—they have a balance due! Alas, this was not… Read More

Today’s post is brought to you by the brainiacs over at the Procedurally Taxing Blog. Specifically, it was this post on a taxpayer winning damages from an employer who both misclassified him as an independent contractor (he got a 1099-MISC instead of a W2) and who reported more on the 1099-MISC than the employee (he… Read More