For small business owners, tax time can become a confusing nightmare if they haven’t stayed organized or don’t have the right professionals by their side. Hiring a professional with small business experience is a great way to avoid the headache of filing your own taxes and possibly making a mistake. As an established NYC small business accounting firm, we’ve seen many owners make several mistakes that have cost them big-time. Here are three of the most common and dangerous mistakes we’ve seen business owners make on their taxes.
Read MoreAs an experienced NYC small business accountant, I know the date that every American has ingrained in their head for tax preparation. April 15th has been identified for decades as “Tax Day” and with this day approaching quickly, you better have your paperwork in line. Although April 15th is always synonymous with finishing up that tax filing, this is not the date to mark on your calendar this year.
Read MoreThere are over a million international students and counting in the United States. If you are an international student and receive income from U.S. sources, you could be required to file an income tax return. This process can be more complicated than the average return for an American citizen or green card holder. Here are […]
Read MoreIf you have past due tax returns, you could be accruing interest that could rack up your tax bill astronomically. It is important to consult with a full-service tax and accounting firm that specializes in back taxes in order to get back on track. If you have skipped a tax return or know you owe […]
Read MoreIf you are not using a full-service tax and accounting firm that specializes in New York State personal income taxes, a mistake on your return can easily happen. Here at 212 Tax & Accounting Services, we have specialists in place who can help find mistakes that taxpayers frequently make on their personal income taxes. We […]
Read MoreWith the dramatic election and recent chatter of leaving the United States, many citizens are interested in learning more about what it means to renounce citizenship with this country. It’s important to know the tax requirements for expatriates and the procedure for legally leaving the country before making an informed decision.
Read MoreI think that an outsourced CFO can help you grow faster and make more money because they’ll give you a different perspective of your business from an inside and outside point of view. An outsourced CFO is often more aware of the timelines and an adviser that is actually part of the team. If you […]
Read MoreOne of the biggest mistakes an Airbnb makes is they don’t report the income at all. You have to report that right amount of gross income for your small business, no matter what your expenses are. In addition some people don’t know which expenses to write off which is why we offer a tax organizer. When clients have […]
Read MoreFreelancers should be most concerned about not falling behind because it’s not a good feeling come tax season when you have a big bill on your hands. If you keep in touch with us quarterly and make those estimated quarterly payments, it’ll lessen the blow at the end of the year while saving you a little bit over penalties […]
Read MoreWe understand that if you are switching accountants or you’re working with an accountant for the first time, you want to know what to expect. Not only in terms of pricing, but how the process is going to work, how the relationship is going to work. We are happy to offer a pre-30 minute consultation […]
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