July 5, 2018

The 20% Domestic Production Activities Deduction Replaces the 9% Domestic Production Activities Deduction

Section 199 of the US Tax Code defined the requirements for a business to take a tax deduction for certain production activities. This part of the tax code was designed to encourage business to start or expand manufacturing businesses in the United States. This was usually called the Domestic Production […]
May 27, 2018

What’s the Difference Between a Professional Accountant and a Bookkeeper?

Many business owners assume that bookkeeping and accounting are the same, but there are a few very important differences between the two occupations. Understanding the differences in how accountants and bookkeepers help support your organization’s financial goals is the key to investing your time — and money — wisely. Below, […]
April 13, 2018

How Will the New Tax Laws Affect Performing Artists?

The recent changes to the federal tax law have seen a lot of modifications made to existing deductions, deduction limits and other tax write-offs. One change in the 2018 Tax Cuts and Jobs Act is the ability for actors to deduct their expenses. The changes going into effect remove the ability […]
March 30, 2018


The term statute of limitations is defined as the time frame for which a legal entity can bring legal action towards specific parties. In the case of federal taxes, there are clearly defined time frames concerning the collection of taxes due, audits, and the issuing of refunds. Below is a […]
March 15, 2018


If you don’t pay your federal tax obligations and don’t make arrangements to pay them in the future, you may be subject to a number of punitive actions. In practice, the Internal Revenue Service has extraordinary power to compel payment by various means. The two main approaches available are levy […]
February 28, 2018

What Happens If I Can’t Pay My Taxes?

Past due taxes are a highly stressful event and it can be difficult knowing where to start. Despite the stern letters, the IRS wants the bill to be paid and offers several options to do so. By taking action, you can get your taxes organized and begin paying off your […]