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5 Business Tax Myths Debunked

by Penny Fox – Tax time can be taxing for everyone, but small business owners have it particularly hard. Without an army of accountants and tax experts, they put on the “tax” hat, and most often are working blind. One major misconception is that taxes are...

Identity Theft and Tax Returns (Tips for Taxpayers)

by Penny Fox – Identity theft is one of the fastest growing crimes nationwide, and refund fraud caused by identity theft is one of the biggest challenges facing the IRS. This year, the IRS continues to take strong actions to protect taxpayers and help victims of...

Top 10 Tax Questions

by Penny Fox – 1) You are volunteering your services to a non-profit community home-builder. Nice tax deduction, right? Alas, there are no federal tax deductions for the value of your time or labor donated to a charity. (Think about it: if you were paid for your...

How Long Should I keep My Records?

by Penny Fox – I get asked this question on practically a daily basis. So – here it is. According to the Internal Revenue Service, “The length of time you should keep a document depends on the action, expense, or event for which the document records. Generally,...