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4 Tips to Reconstructing Records after a Disaster

Reconstructing Records after a Disaster The time and work recovering from a natural disaster such as Hurricane Irma can be extremely stressful, and it can be crippling to a small business. When we factor in a loss of income, damaged to facilities/equipment and especially the loss of business records, a business can quickly fold if the […]

Everything You Need to Know… Hurricane Harvey and Irma Relief

As our communities work to recover from Hurricanes Harvey and Irma, SFS Tax & Accounting Services shares the tax relief measures announced by the Internal Revenue Service (IRS) in response to the disaster. (Maria effects Puerto Rico, only) We hope this article will shed light on several tax relief measures announced by the Internal Revenue […]

IRS Offers Tax Filing Relief to Hurricane Irma Victims in Florida, SFS Tax & Accounting Services Helps Florida Affected Taxpayers

IRS offers tax filing relief to Hurricane Irma victims in Florida, SFS Tax & Accounting Services Helps Florida Affected Taxpayers. The Internal Revenue Service announced that Hurricane Irma victims in parts of Florida and other areas have until Jan. 31, 2018, to file some individual and business tax returns and make certain tax payments. The […]

What Does the Eclipse Have to do with Taxes!

Eclipse Day is here! We are in Nashville, and they say it could feel like 2 million people for a few hours during the eclipse. We are staying away from downtown and viewing it from the Hilton Garden Inn patio before heading back to Florida. Florida Today shares information about how much of the eclipse Floridians will see. […]

6 Tax Tips for Startup Businesses

  Taxes are rarely the first thing an entrepreneur considers when they plan a new business. However, they need to be considered before you open your doors for business. This is the time to bring in your trusted tax advisor, your Enrolled Agent to help you make these crucial decisions. Here are 6 tips for […]

**Understand your responsibilities

Settlement of a debt is not the end of the story. Creditors who forgive $600 or more of your debt are required to report the forgiveness to the IRS. You’ll receive a 1099-C “Cancellation of Debt” tax form in the mail. You must include the canceled amount in your gross income—and pay taxes on it—unless you […]

The SFS Tax & Accounting Top 3 Apps to Track Your Business Miles…

You need to keep a log if you want to legally take the business expense. Driving around town? If it has something to do with business, you might be able to get a tax deduction come tax-time or a reimbursement from your employer. Business owners and the self-employed know the value of keeping track of their […]

Are You Making This Common Mistake and Will it Hurt You at Tax Time?

Using your company credit card for personal purchases could create problems later on. A common mistake many small business owners make is combining business and personal expenses in one bank account. Later on, it can get tough trying to separate the expenses especially if you don’t keep receipts. You can’t depend on the credit card […]

Big Changes for the 2017 – 2018 FAFSA

If you have a child beginning college or already enrolled in school you should be aware of the following changes. Beginning with the 2017­–18 Free Application for Federal Student Aid (FAFSA®), the following changes have been put in place:  The 2017–18 FAFSA will be available earlier. You can file your 2017–18 FAFSA as early as Oct. 1, 2016, rather […]

SFS Offers Tips for Teenage Taxpayers with Summer Jobs

Summertime is here, and many students and teenagers get summer jobs to earn extra spending money to pay for gas, save for a car or to put money aside for their next semester. Parents, Jeffrey Schneider, EA, CTRS, NTPI Fellow, offers some tips to keep in mind and to help educate your children about their […]