General Business Tax Credits Add Up

Internal Revenue Service (IRS) Form 3800 is a summary form for a multitude of general business credits. Does your business qualify for any of the tax credits? Form 3800 summarizes approximately 30 business credits computed on various IRS forms. If you started a new pension, hired & retained new employees, provided business accessibility to the […]

Start Your 2012 Tax Planning Now

Although there are no major taxes taking effect in the 2012 presidential year, several pending changes in 2013 require taxpayers to start their 2012 tax planning as soon as possible. The following are just a few critical changes taxpayers need to consider in their 2012 tax planning: The American Opportunity Tax Credit expires in 2012. […]

Free Tax Preparation Isn’t Free

Free tax preparation is only “FREE” if the preparers offering the service are capable of maximizing your deductions and tax credits. Do you know if these preparers are qualified to do this? The IRS and various nonprofit organizations offer “FREE” tax preparation and/or assistance for individuals under certain income levels or for individuals in certain […]

Should You Hire a Tax Preparer?

Before you purchase tax software and try to complete your own income tax returns, consider these facts: The IRS estimates that the average taxpayer needed 23 hours to complete their tax return (nearly 32 hours if they filed a Schedule C for a business or a Schedule E for rental properties). Tax law has had […]

Income Tax Credits Make a Difference

Don’t forget the income tax credits available in 2011. If you qualify for any the following credits, you may get a bigger tax refund. Adoption Credit Child & Dependent Care Credit Child Tax Credit Earned Income Credit American Opportunity Credit Lifetime Learning Credit First-Time Homebuyer Credit Foreign Tax Credit Personal Energy Tax Credit Residential Energy […]

A New Way to Keep Your Books

Flexible Accounting Services of the Triangle (FAST) was created to change the way small companies in the Triangle keep their books. We aim to partner with small businesses and provide them a flexible accounting service to fit their schedule. Our mobile capabilities allow us to bring our office to the customer – meeting with them […]