Are your contributions to crowdfunding websites such as Kickstarter, GoFundMe and YouCaring etc.. qualified for a tax deduction on your taxes?  The answer is no.  The IRS only allows deductions from Qualified Organizations.   The definition of a Qualified Organization by the IRS: A qualified organization should be presented as a 501(c)3 and usually will…

Have you heard your Accountant mention requesting a Tax Filing Extension for your business?  Do you know what this means and what happens when filing for this Extension? First off, a Tax Filing Extension is a useful tool the IRS has provided to business owners which allows you some additional time to get your bookkeeping in…

1. Review your Financials (Profit and Loss and Balance Sheet). A Profit and Loss is a good way to see how your company performed for the year, it is important that this report is accurate and reconciled before sending to your Accountant for Tax Filings.  An inaccurate Profit and Loss can either make or break you,…

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