Wayne Wright Ea

Here’s why your tax return may be flagged by the IRS

There are several reasons why your tax return may get flagged or audited by the IRS. Here’s how to avoid IRS scrutiny and processing delays.

IRS Tax Tip: Ten Tax Tips For Individuals Selling Their Home

The Internal Revenue Service has some important information for those who have sold or are about to sell their home. If you have a gain from the sale of your main home, you may be able to exclude all or part of that gain from your income.Read more →

When is the right time to hire a tax accountant?

Confused if you should hire a tax accountant? Here are the 7 circumstances when you must hire a tax professional.

Missed deadline to file Income Tax Return? Here's what you need to do

What should you do if you have missed the deadline to file your Income Tax Return? Read on to find out.

Tax Deductions You Won't Believe

Here are some examples of deductions from the IRS that were permitted and some that were, uh, too creative.

10 Questions To Ask Your CPA

If you are hiring an accounting or tax and business firm, it should go without saying that you have a CPA involved in looking over all of the work. However, not all accounting firms are created e…

Build & Grow Your Tax Preparation Business

Our manuals and classes show you how to build and grow your own tax preparation business. Learn more!

What will new tax codes do to your tax return?

25 Small Business Tax Preparation Mistakes to Avoid From the Pros

Understanding the small business tax preparation process is important in order to avoid the tax mistakes that will cost your business money. Here are the most common business tax preparation mistakes to avoid according to the pros.

Filing your tax return…on your phone?

Filing your tax return is always a laborious process, but there's an easier way – via your smartphone.

5 Common Mistakes to Avoid on Your Tax Return

When it comes to filing your tax return, learn about the five common mistakes people make and how they can be avoided.

Oops, Did You Forget Something on a Tax Return?

If you have already filed your tax return and overlooked an item of income or forgot to claim a deduction or credit, it is not too late! An amended return can be filed to correct an already filed tax return. Failing to report an item of income will most certainly generate an IRS inquiry, which typically happens a year or more after the original return was filed and after the interest and penalties have built up. Therefore, it is best to file an…

Amended Tax Return: Frequently Asked Questions

Learn how an amended tax return can change or correct an error with the IRS. This can also potentially get you a larger refund in some circumstances.

13 Fun Things to Do With Your Tax Return

So, you got your tax return back! It may seem like the responsible thing to put it away in savings, but sometimes you have to treat yourself. You deserve it,

Victim of Embezzlement? How to Claim a Theft Loss Deduction

A business may be able to claim a federal income tax deduction for a theft loss, but does embezzlement count as theft?

How Long Does The IRS Have To Audit Your Tax Return?

Do's & Don'ts of Recordkeeping for Business Meal & Vehicle Expenses

If you’re claiming deductions for business meals or auto expenses, expect the IRS to review them closely to be sure they meet strict substantiation requirements.

3 Steps to Avoid an IRS Audit of Your Tax Return

If you don't outsource your tax preparation--your time is limited, after all--here's how to audit-proof your return.

Six steps to e-filing your income tax return

To e-file your income tax return, you will have you register on the Income Tax Departments online tax filing site.

Who can I claim as a dependent on my tax return?

Find out who in your household you can claim as a dependent on your income tax return by reviewing these three different qualification tests.