IFFS Blog

There’s nothing more onerous to a small business owner than business payroll. Not because small biz owners don’t want to pay the bill—in fact, most small biz owners understand the value and importance of their hired help—but the reality is that business payroll these days is an ever increasingly complex maze…and a wrong turn might be catastrophic!

The mortgage interest deduction (MID). Do you really need it?

Imagine this scenario: I loan you money. You pay me back with interest. When it comes time to pay Uncle Sam, he tells you to deduct the amount you paid me in interest from his bill. What do we call this? (and is it fair? a good idea?)

Tax prep season 2011 is over and the CPA’s, support staff, and our resident attorney are still catching their breath. Most folks may not realize it, but the reality is that tax prep season 2011 is not really over…at least for us.

You might suspect that this article might be about some hidden fees, or tax prep pitfall for the unwary, but this is not the case today. Today, our discussion leads us to scammers.

Everything seems pretty normal right now in tax prep land, doesn’t it? It’ll likely continue that way for a while, especially now that tax season 2011 is over. But the normalcy is going to change…and we’re betting that the change will be very strained and quite dramatic.