Accelerate Depreciation is a method that records greater depreciation than straight-line depreciation in the early years and less depreciation than straight-line in the later years of an asset’s holding period.
“Quick Tip” The Effective Tax Rate
This is the tax rate you actually pay. It is the total taxes paid divided by your total taxable income. Said another way, after taking your income and then applying for taxes, deductions, credits, exemptions, and other adjustments, you are … Read More
What are Buy-Sell agreements?
A Buy-Sell agreement is an agreement between the owners of a business, which provides that the interest of any one of them who dies shall be sold to and will be purchased by the surviving co-owners or by the business … Read More
Covid 19 Small Business Financial Solutions
Has your business been negatively affected by the Coronavirus? There are several solutions available in grant and loan form for small business owners seeking financial assistance during the Coronavirus outbreak. Diverse Community Partners is working to provide you the latest … Read More
CPA vs. Accountant
Hiring a professional to manage your organization’s finances is pivotal to stay in accordance with federal mandates, ethical requirements, and keep business operations in check for the fiscal year. Failing to properly manage the finances of your business could lead … Read More
TAXPAYER DIGITAL COMMUNICATION (TDC):
TAXPAYER DIGITAL COMMUNICATION (TDC): The IRS is moving into electronic communication with taxpayers through Taxpayer Digital Communication (TDC). This program will allow IRS employees to resolve taxpayer issues through email, chat, and other electronic functions. The project is currently in … Read More
PrePaid E1 Visa Card – Have a Safer Way To Get your Tax Refund
Your E1 Visa Prepaid Card is more than just a way for you to receive your tax refund. It’s a reloadable prepaid card account with very low fees that can save you money all year long. It’s a better way … Read More
IRS LAUNCHES NEW ONLINE TOOL TO ASSIST TAXPAYERS WITH BASIC ACCOUNT INFORMATION
IRS LAUNCHES NEW ONLINE TOOL TO ASSIST TAXPAYERS WITH BASIC ACCOUNT INFORMATION: The Internal Revenue Service announced the launch of an online application that will assist taxpayers with straightforward balance inquiries in a safe, easy and convenient way. This new … Read More
To Lease or To Buy
Is leasing or buying the best way to finance your next car? It’s hard to give this a quick answer since there are so many trade-offs. However, if you take a closer look at your lifestyle, your needs and your … Read More
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