A & R Accounting The Company you Keep

What is not income can be a bit trickier but basically gifts, inheritances, and life insurance pay outs as a result of someone's death are not taxable although sometimes you still need to report it.

Here is a link to the IRS.gov website for you to read exactly what the IRS expects of A and R Accounting, Inc as a Tax Preparation business. If you can't say for certain it's what your current provider is doing then you need to call us and be certain! http://www.irs.gov/businesses/small/article/0,,id=231827,00.html

All of your deductions then apply to the business (which limits your profit responsibility on your federal tax return) and you can write yourself a payroll check complete with regular employee withholdings which makes applying for personal credit easier than being a sole proprietor.

If you don't feel comfortable with your answers you can set an appointment to have A and R Accounting, Inc. take a look at your records, books, and tax reports to see if you are being taken advantage of.

Only a software program will allow this and unless you have the expertise to discern what the numbers actually mean you could inadvertently mis-report your earnings, losses, or expenses at tax time based solely on the information you put into your software program.