The dreaded tax season is over. Tax Day has come and gone and the deadline to file and pay is now passed. But what the heck happens now if you missed the tax deadline? We’re talking specifically about federal income tax penalties here. You’ll need to look up your own state penalties as each state will be different. Minor Tangent We’re not getting into…
The other day I heard someone say, “I know I can’t do it alone, but I fear I’ll be giving up control of my finances when I hire an accountant. What do I do?” We Fear the Unknown That’s why kids are afraid of the dark. They can’t see who might be lurking in the corner or hiding under their bed. You don’t know…
Webster defines Red Flag as “a warning signal or sign; a problem to be dealt with.” Negative accounts are a big red flag in your bookkeeping. Despite popular belief, bookkeeping isn’t necessarily only for doing your tax return, although that’s an added benefit. Bookkeeping is for recording and organizing all of your financial transactions made for your business operations. With good records you are…
Every business owner wants to know how to save on taxes. They are the bane of our existence. For better or for worse, taxes have to be paid to keep your business going. Our job is to make sure you don’t overpay the IRS. As you’ll see in an example later on, they are takers, and you won’t get that money back. A big problem…
Everyone’s favorite subject… the IRS! Maybe a slight exaggeration, but everyone has to deal with them one way or another. The only interaction you might have with them is giving them your money when required. Sometimes more money than is required because you don’t know what you don’t know. Or it might be a more uncomfortable personal interaction through, say, an auditor. The IRS…
At Incite we firmly believe small businesses are the heart of the economy. Almost half of all employed people in the U.S. would be out of a job if all small businesses closed down, according to the SBA. That also means significantly less money being circulated, which would be devastating to the economy. That’s why you deserve to grow financially and the financial freedom that…
Incite Tax & Accounting is a Certified Public Accountant (CPA) firm with offices in Draper, Utah. With over 10 years of experience handling business taxes for large and small Utah companies, Incite Tax is one of the most qualified business CPA firms in all of Utah. No matter your tax needs, Incite Tax is the firm for the job.
Incite Tax believes in sticking it to the IRS. If you’re looking to better your financial situation contact us!
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