Hobby or Business? Good Records May Carry the Day

If you own and operate a trade or business and have a history of losses, there is a very good chance the IRS will at some point disallow those losses, especially if you keep poor…

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The Best Way to Organize Your Tax Records

Every self-employed person or small business owner should keep their books using a reputable accounting software package such as Quickbooks or Quickbooks Pro. But even if you keep your records electronically, you still must have…

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Bad Books and Records Means IRS Trouble – Outsource Your Accounting Work Now

One of the biggest problems we see is the self-employed taxpayer who tries to do everything himself, including keeping his business books and records. This almost always fails. If you are thinking about starting a…

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