Unfounded IRS Audit Myths
Like old wives tales, IRS audit myths, often with little basis in reality, have been handed down through generations of American taxpayers. IRS Audit Myths Debunked Since IRS audits are very rare, most honest taxpayers are already in the clear without knowing it. Only...
IRS Audit Triggers and How to Avoid Detection
Everyone dreams of paying no taxes (or claiming a significant sum of cash in the form of deductions), but filing taxes is rarely as enjoyable as Christmas. That becomes especially true when an IRS agent comes knocking at your door and accuses you of tax evasion....
Contractor Accounting Methods Built to Your Specifications
Construction contractors typically work on different type, size and length contracts. Depending on these variables, recommended contractor accounting methods may differ. Before filing a Federal tax return, construction contractors of any business structure (sole...
Strategies for Controlling Food Costs in a Restaurant
Monitoring food cost, the percentage of total restaurant sales spent on food product, is critical to a restaurant’s success. By monitoring inventory, eliminating waste and ordering wisely, controlling food costs effectively can be simple and easy. Controlling food...
A Construction Accountant Sifts Through Complex Bills
Unlike many other industries, accounting for the construction companies does not just include a regular series of debits and credits. Instead, a construction accountant uses a system that is designed to match income and expenses to the varying length and size of...
Understanding a Profit and Loss Statement for Restaurants
A restaurant profit and loss statement displays a business’ revenues and costs over a specific period of time. This important ledger can effectively track business growth, if you know exactly what items belong in a profit and loss statement. Since understanding a...
Strategies to Combat Identity Theft During Tax Season
Each year, about seven percent of tax-paying Americans fall victim to identity theft, the fastest growing crime in the nation. To combat identity theft today, Americans are taught to protect their personal information with a lock-and-key. As a result, many taxpayers...
Your Blueprint to Financial Success – Hire the Right Contractor Accountant
Opening up a business as an independent contractor can be an exciting ordeal. After many long years of exams, countless apprenticeships and some real world experience you finally get to call your own shots. You get to take the projects you want to do and, at the end...
The 40 Simple Tax Deductions You Probably Don’t Know About
Everybody seems to know what tax deductions are but, if you were to ask them what deductions they qualify you’ll more than likely be met with silence. With the constant shift of government legislation year after year it can be difficult to define what you qualify for...
Searching for Summer Vacation Deals? Try Tax Deductions
With summer almost here, it’s prime time to plan a vacation. Today, everyone tries to find ways to maximize fun while limiting cost. If you are searching for summer vacation deals on plane tickets and hotels, don’t overlook the savings opportunities available in tax...
Is it Time to Change Your Tax Withholding Code?
Every so often, it pays to update your tax withholding code to avoid owing a big tax bill at year’s end. Otherwise, you are essentially loaning the government your hard-earned money at zero interest. Especially if you’ve gotten married or had a baby in the last year,...
Learn to Recognize the 3 Most Common IRS Scams
Around tax season, it’s important for everyone to remain vigilant with protecting personal data because of an increasing number of IRS scams nationally. By learning these warning signs now, you can avoid becoming the next victim. Email Phishing Scam Recently, the IRS...
Keeping Accounting Records for a Small Restaurant
Small restaurants, if they last any length of time, are always super busy preparing and serving meals, pouring drinks and cleaning up the mess. With customers continually coming in and out, a small restaurant owner’s time is at a premium. But when it comes to...
Get In Touch
Have a question? We have the answer. Feel free to contact us using our online form or info below. We'll be in touch as soon as possible.
Office
Suite 500W
Jericho, NY 11753
Call Us
Email Us
Hours
Sat & Sun | Closed