Free Tax Help from 1(800)Accountant!

That April 17th tax deadline is just four weeks away! Most small business owners know how important it is to get their taxes finished early, but we want to make sure the small businesses we’ve helped create aren’t simply just sending in the necessary forms and hoping for the best.

We want you to know how to maximize every single deduction, decrease any chance of an IRS audit, and keep as much of your hard earned money as possible. With that in mind, we’ve teamed up with 1800Accountant.com to give everyone reading our blog and using our services a free business tax consultation. There are no obligations to stick with 1800Accountant if you do not want to, and you won’t regret setting up a consultation with their team of licensed CPA and accountants to help make sure you’ve followed a sound tax strategy.

If you’re interested, simply click here or on their logo above to access the webpage where you can sign up for your appointment with 1800Accountant.com. As we said before, it’s completely free, there are no obligations and it is a great way to get some professional advice regarding your small business’s tax obligations. If you’d like, you can also call them at 1-800-822-6868; just be sure to mention MyCorp!

Don’t miss this opportunity for free tax help, and remember to sign up as soon as possible to make sure you get an appointment slot that will fit your schedule.

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Simpsonian Wisdom: Taxes

This is not the first time we’ve decided to impart advice to our lovely readers based on the wisdom of Matt Groening and the Simpsons Team. Sure they entertain, but they have a message.

A message we typically dredge up from the depths of the episode and then spell out for you underneath a video clip.

Sadly for little Otto, there will be no Metallica concert this April 15th. I’m Kent Brockman.

MyCorp is clicking into tax season with the rest of the business world, so we only thought it fair to bring the lovable misfits from Springfield back to see what they have to say on the subject. You’ll be hard pressed to find anyone who enjoys doing their taxes, except maybe for Ned Flanders, but hopefully a bit of humor will take the bite out of the process.

Or maybe it will just give you an excuse to procrastinate. That’s almost as good. Continue reading

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1099 Health Care Act: Information and Implications

Small businesses face a unique set of challenges in the current economy.

The Senate voted to repeal the unpopular 1099 tax reporting requirement of the Affordable Health Care Act Tuesday, April 5th. This is the first piece of legislation that officially repeals part of President Obama’s widely-debated health-care reform movement.

Small business owners have expressed their frustration at the provision, which would require them beginning in 2012 to report to the IRS all payments of more than $600 on 1099 forms—work that many small companies just don’t have the time or manpower to do. According to the Washington Post, The bill would have generated an additional $22 billion in tax payments over the next ten years. In addition, the major provisions of the Health Care Act include: Continue reading

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Last Minute Tax Tips

If you’re a procrastinator like me, then you’re just starting to prepare for the upcoming tax due date. As it turns out, you’re not alone. Many firms responsible for sending out tax information to the taxpayers don’t even deliver the information until February or March, making it very difficult for those taxpayers to get their tax returns done on time. In fact, over 40% of Americans file after the beginning of April. If you fall into this category, don’t be discouraged and give up on your tax returns! There is still plenty of time to get it all done! Here are some useful tips to getting your tax return filed properly in the next two weeks.

File Online. One of the best moves during this tax season is for you to file online. A great (and surprising!) thing about filing online is that there have not been very many computer problems, and the IRS is only working to make it better by improving the process. Over two-thirds of people filed online last year, and that number will only be increasing. The updated and improved website will help guarantee few problems. However, it is always advisable to not wait to file online until the night before taxes are due as websites and the internet in general can be very unpredictable when too many people are using them. Continue reading

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Financing Made Simple

Financing a start up is daunting for many entrepreneurs. While hunting for cash, many find themselves sucked into flashy gimmicks promising “Free Money!” and “Fast Cash Now!” from websites and hiring consultants. Unfortunately, most of these promises are empty, leaving many small business owners searching for cash.

As difficult as it may seem, small business funding is available. For qualifying businesses, there really are opportunities to land free money from state, county and city governments, as well as private foundations and corporations. Continue reading

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Common Tax Deductions Part 2!

In case the first five tax deductions weren’t enough (and let’s face it, you can never have too many tax deductions!), here are five more deductions that can save you a lot of money come tax time.

6. Professional Fees and Classes Deductions. You may have already known that you can deduct certain office equipment, your home office supplies, and health insurance, but did you know that you can also deduct many of the other costs of having a job? Any professional fees that you pay to continue in your career are deductible on your tax return, as well as much of the costs of attending classes, seminars, and training sessions. Subscriptions to professional journals, newspapers, and books are also included as tax deductions. Finally, don’t forget any membership fees you pay to trade organizations, professional groups, or chambers of commerce! All of these things will earn you quite a large deduction on your tax return as long as you keep track of what you spend and save your receipts. Continue reading

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Love Your Business this Valentines Day!

As Valentine’s Day approaches, let MyCorporation help you give your business the love and attention it deserves. Let Mycorp help you love your business! On February 14th, MyCorp is offering a FREE corporation or LLC from 7am to 7pm in honor of “Love Your Business Day.” In addition, MyCorporation also offers all the products your business needs – free Quickbooks, business cards and a domain name!

On February 14th, love your business by incorporating or forming an LLC to save on taxes and protect your personal assets. As a sole proprietor, your liability for business debt is unlimited. Personal assets such as your home, personal bank accounts, and other valued assets may be at risk. What does this mean? It means that if your business experiences severe financial difficulties, creditors can take away your personal property such as your home, retirement savings, or any other asset you or your spouse own. Continue reading

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Maintain Your Business: Common Tax Deductions

January is winding down meaning that tax season is officially upon us. Gone are the carefree days of the holiday season and now the inevitability of taxes is looming ahead. Don’t lose heart though! Paying taxes is a requirement but paying too much in taxes is not. 2011 presents new opportunities to excel at preparing your taxes by using the allowable deductions to your advantage. Here are five of the most commonly missed tax deductions. Learn them. Love them. Use them on your tax return this year. Continue reading

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Need help finding a CPA?

Let us assist you in finding the right CPA for you and your business at no charge.

We know that many of our customers need help with issues involving accounting and taxes. At no cost to you, we can help you find a qualified Accountant that understands your business.

We have a network of over 450,000 CPAs to help you find a good match based on your location and services requested. We will have up to 5 Accountants contact you to discuss your needs. You are in no way obligated to use the services offered by any CPA – simply hear what they have to say, and the decision is yours.

Click here to submit your information to get matched with a CPA.

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Corporate Compliance in the New Year

The new year is the perfect time to get organized and clean up your business matters…Whether it’s forming a corporation or limited liability company (LLC), protecting your business assets, or maintaining/updating your corporate or LLC documents, now’s the time.  It’s a new year and time to start 2008 on the right foot – and MyCorporation.com can help with all of your business and document filing needs.             The following advantages of incorporation should be considered when forming a business: (1)        Incorporate!  The most obvious advantage of incorporation is the limited liability of the company’s shareholders. A company is an entity separate and distinct from its shareholders. The company owns and operates the business and also incurs its liabilities, therefore, the owners of a corporation or LLC can minimize, if not eliminate, the personal risk. Forming a Corporation can provide the protection and tax savings needed to give you peace of mind and make your business even more successful and profitable.  (2)        Benefits to Incorporating. The following are just some benefits associated with incorporating: (a)        Tax Advantages.  Incorporation often provides fore greater tax deductions for the business, your employees, and potentially for family members of business owners.  Even if you are the only shareholder and employee of your business, benefits such as health insurance, life insurance, travel and entertainment expenses may now be deductible (b)        Easier access to capital. Most sole proprietorship and partnership business owners know how difficult it is to raise additional capital for their businesses.  Investors tend to shy away from partnership investments because of the risk of subjecting their personal assets to the liabilities that may arise from the business in which they are investing.  On the other hand, a corporation can readily raise capital by issuing additional shares of stock.  Investors can purchase shares in return for their capital.  This allows a business to raise money without incurring debt or interest charges, thus lowering the cost of capital.  Continue reading

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