Jay Wilson CPA

What Can a CPA Do that a Regular Accountant Can’t?

What can a CPA do that a regular accountant can’t? That’s what we’d like to address today.

Five guys committed a $13 million tax fraud. Here’s how much prison time they’ll do

Miami-Dade residents Jamal Dyer, Jorge Osorio-Rodriguez, Tramaine Sealy, Jonathan Edwards and Daniel Murias each have been sentenced to do federal prison time after pleading guilty to a $13 million tax fraud

What Are Account Detail Types in Quickbooks?

If you’re planning to keep track of your business’s financial records using Quickbooks, you’ll need to familiarize yourself with the accounting software’s detail types. Whenever you create an account in Quickbooks — expense account, income account, liability account, etc. — you’ll be prompted to choose a detail type. It’s important that you choose the right detail type because this will affect the subcategory in which the…

Is Hiring a CPA Worth it? 5 Tips for Getting Your Money’s Worth

Often when people find out I’m a tax accountant, I get asked, “How much does a CPA cost?” It’s like me asking “How much does a home cost?” We all understand that a 1,000 square-foot home in Kansas has a different cost than a 1,000 square-foot penthouse condo in New...

4 Practices That Keep a Life Crisis From Creating a Business Crisis

Nurture relationships and practice equanimity while life is calm and you will be prepared to navigate a personal trauma that could upend your business.

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.

Cpas Or Enrolled Tax Agents? Who To Hire During An Irs Audit

As the options for tax debt settlement have been diversified, different types of professionals can also be hired by taxpayers to address their concerns. However, the most well-known of these profes…

Should the IRS Create a Free File App of Its Own?

ACTIONABLE INTELLIGENCE FOR TAX, ACCOUNTING, AND FINANCIAL PROFESSIONALS

What's the IRS Hiding?

ACTIONABLE INTELLIGENCE FOR TAX, ACCOUNTING, AND FINANCIAL PROFESSIONALS

How construction business owners can prepare for an IRS audit

The IRS has historically considered construction a high-risk compliance industry because of its potential for cash transactions, underreported income and worker misclassification. What’s more, as the tax agency rolls into the future under new leadership, with improved technology and a boosted workforce, many business pundits are keeping an eye out for a rise in audit… Read More »How construction business owners can prepare for an IRS audit

4 Ways to Fix IRS Collections

Home foreclosure? Put on the brakes.<br>By CPA Trendlines Research

Six More Ways to Fix the IRS

ACTIONABLE INTELLIGENCE FOR TAX, ACCOUNTING, AND FINANCIAL PROFESSIONALS

Find out what to do if you receive an IRS notice

How is an audit conducted? Have you received a notice from the IRS? Contact one of our knowledgeable team today to find out how we can help!

The IRS clarifies what counts as qualified medical expenses

If you itemize deductions on your tax return, you may wonder: What medical expenses can I include? The IRS recently issued some frequently asked questions addressing when certain costs are qualified medical expenses for federal income tax purposes. Basic rules and IRS clarifications You can claim an itemized deduction for qualified medical expenses that exceed… Read More »The IRS clarifies what counts as qualified medical expenses

Taxpayers often question how long records must be kept and the amount of time IRS has to audit a...

How to Avoid a Small Business Audit By The IRS

An audit can make or break your business. Learn how to avoid a dreaded small business audit from the IRS so you can sleep easy and focus on making your enterprise a success.

Avoid these 3 tax-filing mistakes unless you want the IRS to audit you

You could be inviting a tax audit by failing to report all of your income, estimating your deductions or claiming 100% business use of your car.

5 things that trigger an IRS audit

If you want to know how to reduce your chances of getting flagged for an audit, then you need to know what can trigger it

CPAs Reveal 9 Tips for Filing Your Taxes

Getting your taxes done doesn’t have to be a horribly arduous, taxing (pun intended) experience.