Updated Links

Hi friends! I updated the links on the right side of this page. I included two pages that many people have been asking about- "fees" and "services." Check it out, and as always, email if you have any questions.

ebtaxservices@gmail.com

Questions?

Usually when people find out I prepare tax returns, I get all kinds of questions- Eric, can I deduct this? That? Should I incorporate?

Usually, I get a lot of the same questions over and over. Therefore, every now and then I'll post some answers, some one word answers, and sometimes I'll use scenarios to answer your questions.

So, if you got a question, write me an email. If you ask me in person, don't expect a straight answer on the spot. The truth is, tax consultants need a lot more information before they can give you a sufficient answer.

In the meantime, I'll just do a Q&A here with many of the questions I've been asked before. Hope it helps!

It's October 15!!

... leave me alone!

;-)

Starting a business?

Ah! So, you've got a great idea, and now you want to turn it into money. Great! But before you take a leap, don't forget to count the cost. How's your budget? Do you have enough capital to get your business running for the long term? Are you properly registered with the State? Are your taxes paid on time?

... yeah, I bet you weren't really thinking about those variables when you were calculating how much money you'd be making on the back of a napkin.

But that's okay... leave all the accounting stuff to us, and get back to what you can do best- turning your bright ideas into money. Majority of successful business have as a part of their team a good accountant to throw this burden on.

Here's some links that will help you get your business started. Come to us if you need any help or would like some accounting services.

Planning your business step by step:
http://www.sba.gov/smallbusinessplanner/index.html

How the IRS views your business:
http://www.irs.gov/businesses/small/article/0,,id=99336,00.html

October 15!

It's crunch time.

Deadline for those who filed for an extension is right around the corner.

Remember, if you have tax due, I would recommend paying whatever you can. Many people tell me they do not have the money to pay their taxes. If so, you have two problems to tackle: 1) paying now, and 2) planning for next year. There's no easy solution for both problems, but we're here to help you get back on track.

Got kids? Then get a credit...

The government wants to look benevolent by giving families with kids a little tax relief. Generally, you claim $1,000 credit for each kid under 17 ("minor"). However there are limitations. If your AGI is too high (exceeds the $55,000, $75,000, or $110,000 limits), the government figures you have enough money to take care of your kids for now, and your credit will be phased out.

All right! Now go have some kids. And kick the kids that are over 18 out the house.