Our Blog

What is Short Selling? | Fidelity

Christine Bruno

November 22, 2017

Watch this video to learn about short selling, how it works, and how it might benefit

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Five Facts about Charitable Contributions

Christine Bruno

November 21, 2017

The following article was published by the IRS.

With the holidays around the corner, many people will be making donations to benefit charitable organizations. However, come tax time, the person who made the donation might also benefit. That’s because taxpayers who donate to a charity may be able to claim a deduction for the donation on their...

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5 Ways to Enhance the Power of Your Business Credit Profile

Christine Bruno

November 16, 2017

The following article was published by the SBA.

A business credit profile is the face that a company presents to lenders, suppliers, insurance companies, lessors and other businesses when they decide whether to extend credit or do business with...

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Charitable Giving: The 4 steps to smarter giving

Christine Bruno

November 15, 2017

Here's a good video to watch if you want to learn about charitable giving and how to incorporate it into your financial

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IRS has Resources for Veterans, Current Members of the Military

Christine Bruno

November 14, 2017

As the nation just celebrated Veterans Day, the IRS reminded them that they may be eligible for certain tax benefits. There are also tax benefits that can affect current members of the military.

The IRS has resources for both these groups. The following tools will help military members and veterans navigate tax issues:

Resources for veterans

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How to Market for Small Business Saturday

Christine Bruno

November 9, 2017

The following article was published by the SBA.

Small Business Saturday is bigger than ever—and despite what you may think, it’s not just for retailers or even just for brick-and-mortar businesses. Here’s what you need to know and how to take advantage of small business’s big day.

Held on the Saturday after...

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How to Voluntarily Correct the Classification of Your Workers

Christine Bruno

November 8, 2017

Here's a good video to watch if you've been treating your workers as independent contractors and realize you need to reclassify them as employees. For more information, go...

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Five Things to Know about Estimated Taxes and Withholding

Christine Bruno

November 7, 2017

The following article was published by the IRS.

With 10 million taxpayers a year facing estimated tax penalties, the IRS offers some simple tips to help prevent a surprise at tax time.

People pay taxes on income through withholding on their paycheck or through estimated tax payments. Taxpayers who pay enough tax throughout the year can...

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How to Start a Craft Business

Christine Bruno

November 2, 2017

The following article was published by the SBA.

It’s not unusual to turn a hobby into a business, and that includes crafting. If you have ever thought about selling your crafts or turning your crafting love into a part-time or full-time business, here are things...

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Need a Payment Plan? Consider Using the Online Payment Agreement Application

Christine Bruno

November 1, 2017

If you still owe on your tax bill, you might be eligible for a payment agreement and you may be able to do it all online. For more information, go to

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Online Courses Help Charities Understand Tax Issues

Christine Bruno

October 31, 2017

The following article was published by the IRS.

Charitable organizations have 24/7 access to online courses on Stay Exempt, an IRS website. The IRS created this site to help charities better understand tax issues that affect tax exempt organizations. It...

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What Can Go Wrong As A Franchise Owner

Christine Bruno

October 26, 2017

The following article was published by the SBA.

Generally speaking, the franchise business model is a good one. Over the years, it’s enabled thousands of people to start businesses.

Those businesses have brought much-needed revenue to city coffers. They’ve also provided employment opportunities for people residing in areas where...

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Audits by Mail–What to Do?

Christine Bruno

October 25, 2017

Watch this video to find out what you should do if you get a letter from the IRS saying your tax return is being audited. Or go to youtube.com/irsvideos and search “Understanding Your Audit Letter and Form...

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IRS Announces 2018 Pension Plan Limitations; 401(k) Contribution Limit Increases to $18,500 for 2018

Christine Bruno

October 24, 2017

                              The following article was published by the IRS.

The Internal Revenue Service recently announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2018.  The IRS...

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Business Equipment Financing & Leasing: 7 Key Tips to Know

Christine Bruno

October 19, 2017

The following article was published by the SBA.

Should you finance or lease business equipment?

Although both options help break down the overall cost of business equipment into smaller...

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What is Margin Trading? | Fidelity

Christine Bruno

October 18, 2017

Have you heard of margin trading and wonder what it means? Watch this video from Fidelity and see if this practice might help you accomplish your investment

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What Taxpayers Can Do Now Before Filing Their Return in 2018

Christine Bruno

October 17, 2017

The following article was published by the IRS.

While taxpayers will not start filing their tax returns for a few months, there are a few things they can do to make the process easier next year. Here are two things that could affect the 2017 returns they will file in 2018.  

  1. Report name changes. Recently married or...


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7 Marketing Mistakes That Can Come Back to Haunt You

Christine Bruno

October 12, 2017

The following article was published by the SBA

It may be the season for ghosts and goblins, but ghastly creatures aren’t the only things that can haunt a small business owner. Making any one of the 7...

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Opening a Roth IRA | Fidelity

Christine Bruno

October 11, 2017

Roth IRAs have the potential for tax-free growth and tax-free withdrawals in retirement. Watch this video to learn about other potential benefits of a Roth IRA as

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Extension Filers Should Review Tax Credits Before Filing

Christine Bruno

October 10, 2017

The following article was published by the IRS.

Taxpayers who requested an extension of time to file their federal tax returns have until Oct.16 to double-check their returns for tax benefits that people often overlook. These taxpayers still have time to see if they can benefit from these four credits.

Earned Income Tax...

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The Pros and Cons of Owning A Retail Franchise

Christine Bruno

October 5, 2017

The following article was published by the SBA.

The Pros And Cons Of Owning A Retail Franchise

The retail sector of franchising is huge.

According to a recent report* from...

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IRS.gov Website Refresh

Christine Bruno

October 4, 2017

The IRS has updated its website, making it easier to use. If you are away from your computer, you'll now be able to use your smartphone or tablet. Watch this video to learn about some of the new features...

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Low-Income Housing Units Nationwide May be Offered to Displaced Victims of Hurricanes Harvey, Irma and Other Recent Disasters

Christine Bruno

October 3, 2017

The following article was published by the IRS.

The Internal Revenue Service has provided temporary relief from certain requirements of the Internal Revenue Code to allow owners and operators of low-income housing projects located anywhere in the United States and its possessions to provide temporary emergency housing to individuals who are...

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Tax Results for Giving Up on Company Property

Christine Bruno

September 28, 2017

The following article was published by the SBA.

Sometimes you just want or need to walk away from your business assets…they aren’t productive anymore, you can’t sell them, or you can’t continue making payments on loans used to finance their purchase. What does this mean from a tax perspective? It depends on the property and...

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Preparing for Disasters

Christine Bruno

September 27, 2017

The IRS wants you to be prepared for disasters. Watch this video for tips on keeping your important documents safe in case of

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Reminder for Parents, Students: Check Out College Tax Benefits

Christine Bruno

September 26, 2017

The following article was published by the IRS.

With back-to-school season in full swing, the Internal Revenue Service reminds parents and students about tax benefits that can help with the expense of higher education.

Two college tax credits apply to students enrolled in an eligible college, university or vocational school. Eligible...

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Learn about Tax Benefits for Education

Christine Bruno

September 21, 2017

The following article was published by the IRS

The beginning of the school year is a good time for a reminder of the tax benefits for education. These benefits can help offset qualifying education costs.

Here is information about two tax credits available to those who pay higher education costs for themselves, a spouse or a...

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The Worst Ways to Borrow Money

Christine Bruno

September 20, 2017

There are good ways and bad ways to borrow money when the need arises. This video addresses some of the most dangerous traps to avoid when looking to borrow money for any

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Six Ways to Prepare for a Successful Holiday Season

cbruno

September 19, 2017

The following article was published by the IRS.

Guess what people are doing right now? They’re starting their holiday shopping.

They may not be decking the halls yet, but 17 percent of shoppers surveyed by the National Retail Federation said they start researching holiday purchases before September, while 8 percent reported making...

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Dress the Part: How to Use Employee Dress to Market Your Business

Christine Bruno

September 14, 2017

The following article was publishded by the SBA.

Last week, I went to a restaurant where the servers didn’t wear uniforms. In addition, there was no consistency in the street clothes they...

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Reminders for Extension Filers

Christine Bruno

September 13, 2017

Here's a reminder to file your taxes soon if you filed for an extension before April 15. Yes, it's that time of year already, and mid-October is coming up fast! Learn more at

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IRS Gives Tax Relief to Victims of Hurricane Irma; Like Harvey, Extension Filers Have Until Jan. 31 to File; Additional Relief Planned

Christine Bruno

September 12, 2017

The following article was published by the IRS.

Hurricane Irma victims in parts of Florida and elsewhere have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today.

Today’s relief parallels that granted last month to victims of Hurricane...

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Top Five Steps to Your Hurricane Harvey Recovery

Christine Bruno

September 7, 2017

The following article was published by the SBA.

Over the past week, as the people of the Gulf Coast deal with the unprecedented effects of Hurricane Harvey, we have seen heartbreaking moments of tragedy, of lives...

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Estimated Tax Payments

Christine Bruno

September 6, 2017

If you are receiving income not subject to withholding taxes, then you need to make estimated payments on a quarterly basis. Watch this video for details, or go to

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IRS Provides Special Relief to Encourage Leave-Based Donation Programs for Victims of Hurricane Harvey

Christine Bruno

September 5, 2017

The following article was published by the IRS.

The Internal Revenue Service today announced special relief designed to support leave-based donation programs to aid victims of Hurricane Harvey.

Under these programs, employees may forgo their vacation, sick or personal leave in exchange for cash payments the employer makes, before Jan. 1,...

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14 Tips to Protect Your Business from Ransomware Attacks

Christine Bruno

August 31, 2017

The following article was published by the SBA.

Ransomware attacks are the fastest growing malware threats. On average, more than 4,000 ransomware attacks have occurred daily since January 1, 2016. Ransomware, a type of malicious software that...

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Employer Identification Number

Christine Bruno

August 30, 2017

Starting a business? Then you'll need an Employer Identification Number (EIN). Watch this video for tips on how to apply for

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IRS Gives Tax Relief to Victims of Hurricane Harvey

Christine Bruno

August 29, 2017

The following article was published by the IRS.

Hurricane Harvey victims in parts of Texas have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today.

This includes an additional filing extension for taxpayers with valid extensions that run out on...

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10 Things Savvy Online Marketers Do To Get Web Traffic

Christine Bruno

August 24, 2017

The following article was published by the SBA

Today there are 1.2 billion websites -- or one website for every seven people in the world! That’s a lot of competition. If you want to get traffic to your website, you’re going to...

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Tax Efficient Investing: “Rule of 72” | Fidelity

Christine Bruno

August 23, 2017

This video shows the impact that taxes can have on investments using the “Rule of 72”. The Rule of 72 is a tool to help estimate how your assets could grow with a given rate of...

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File Form 1040X to Amend a Tax Return

Christine Bruno

August 22, 2017

The following article was published by the IRS.

Mistakes happen and tax returns are no exception. Filing an amended tax return corrects information that changes tax calculations. This includes making changes to filing status and dependents, or correcting income credits or deductions. Don’t file an amended return to fix math errors because the...

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5 Key Financial Tips When Starting a Business from Home

Christine Bruno

August 17, 2017

The following article was published by the SBA.

Did you know more than 52% of all small businesses in the U.S. are home based?

According to the Small Business Administration, there are more than 28 million small businesses in the United...

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Your Retirement Income: Why Diversification Matters

Christine Bruno

August 16, 2017

Watch this video to learn why you should have a diversified income plan and how it can help you be prepared for risks you might face with your retirement

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IRS Reminds Truckers: For Most, Highway Use Tax Return Is Due Aug. 31; E-file Is a Convenient Filing Option

Christine Bruno

August 15, 2017

The following article was published by the IRS.

The Internal Revenue Service today reminded truckers and other owners of heavy highway vehicles that, in most cases, their next federal highway use tax return is due Thursday, Aug. 31, 2017.

The deadline generally applies to

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Training the Staff You Envision

Christine Bruno

August 10, 2017

For small business owners, it can be difficult to find good job candidates. Small businesses often times have to compete in the job market with large employers offering an attractive menu of fringe benefits. A possible solution for small businesses is finding workers who can be trained for the jobs they have. 

Internships

Companies may want to engage...

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Why Tax Professionals Need a Security Plan

Christine Bruno

August 8, 2017

Protect yourself against data theft, and make sure your tax professional has a data security

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Helpful Tips to Know About Gambling Winnings and Losses

Christine Bruno

August 8, 2017

The following article was published by the IRS.

Taxpayers must report all gambling winnings as income. They must be able to itemize deductions to claim any gambling losses on their tax return.

Taxpayers who gamble may find these tax tips helpful:

  1. Gambling income. Income from gambling includes winnings from...

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No Business Credit? Here's a Simple Strategy to Get Credit and Conserve Cash Flow

Christine Bruno

August 3, 2017

The following article was published by the SBA.

If you plan to take out a loan for your business, buy equipment, open a business credit card – just about anything that requires borrowing money – having...

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Amending My Return

Christine Bruno

August 2, 2017

If you realize you need to amend your tax return because you forgot to claim a credit, or if you need to correct something else on your return, watch this video for

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Tips to Keep in Mind for Taxpayers Traveling for Charity

Christine Bruno

August 1, 2017

The following article was published by the IRS.

During the summer, some taxpayers may travel because of their involvement with a qualified charity. These traveling taxpayers may be able to lower their taxes.

Here are some tax tips for taxpayers to use when deducting charity-related travel expenses:

  • Qualified...

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Christmas in July: Why You Should Plan Your Holiday Marketing Now

Christine Bruno

July 27, 2017

The following article was published by the SBA.

Put down the leftover hotdogs, sparklers, and souvenir American flags. Yes, summer has barely started—but if you’re a small business owner whose profitability depends on the holiday shopping season, it’s time to start planning your marketing strategy now.

Here are three...

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Moving Expenses

Christine Bruno

July 26, 2017

If you are moving across state or across the country, your moving expenses will probably be tax-deductible. If you are moving across town, they might not be. Watch this video to find out which of your moving...

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Taxpayers Should Review Their Withholding; Avoid Having Too Much or Too Little Federal Income Tax Withheld

Christine Bruno

July 25, 2017

The following article was published by the IRS.

The Internal Revenue Service recently encouraged taxpayers to consider checking their tax withholding, keeping in mind several factors that could affect potential refunds or taxes they may owe in 2018.

Reviewing the amount of taxes withheld can help taxpayers avoid having too much or too...

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Rethinking Insurance Coverage

Christine Bruno

July 20, 2017

The following article was published by the SBA.

Like most small businesses, you probably can’t self-insure (pay for losses out of pocket) because you can’t afford the risk for substantial financial exposure....

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Open a Traditional IRA and Convert to Roth | Fidelity

Christine Bruno

July 19, 2017

An IRA is a great option for some investors as a part of their retirement portfolio. Not sure if you should open a conventional IRA or a Roth IRA? This video gives great tips on using a conventional IRA with...

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Members of the Armed Forces Get Special Tax Benefits

Christine Bruno

July 18, 2017

The following article was published by the IRS.

Members of the military may qualify for tax breaks and benefits. Special rules could lower the tax they owe or give them more time to file and pay taxes. In addition, some types of military pay are tax-free.

Here are some tips to find out who qualifies:

1. Combat Pay...

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Corporate Social Responsibility: What Your Small Business Needs to Know

Christine Bruno

July 14, 2017

The following article was published by the SBA.

Ever wish your small business could do more for the community? Maybe you volunteer as a group or have a favorite cause, but you want...

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Phishing-Malware

Christine Bruno

July 12, 2017

Don't put yourself at risk! Before you click on a link or open an attachment from an email claiming to be from the IRS, watch this

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Tips on How to Handle an IRS Letter or Notice

Christine Bruno

July 11, 2017

The following article was published by the IRS.

The IRS mails millions of letters every year to taxpayers for a variety of reasons. Keep the following suggestions in mind on how to best handle a letter or notice from the IRS:

  1. Do not panic. Simply responding will take care of most IRS letters and notices.
  2. Do not ignore the...

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Renting Your Vacation Home

Christine Bruno

July 7, 2017

If you have a vacation home, condominium or boat that you sometimes rent for profit, watch this video to learn how and when to report your rental

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8 Easy Businesses to Start

Christine Bruno

July 6, 2017

The following article was published by the SBA.

Sam Walton was an ex-retail employee who got the idea to buy a little five and dime store in a small town in Arkansas. That small beginning eventually became Walmart, a global...

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IRS Offers Tips for Teenage Taxpayers with Summer Jobs

Christine Bruno

July 5, 2017

The following article was published by the IRS.

Students and teenagers often get summer jobs. This is a great way to earn extra spending money or to save for later. The IRS offers a few tax tips for taxpayers with a summer job:

  1. Withholding and Estimated Tax. Students and teenage employees normally have taxes withheld...

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How To Overcome The Fear Of Being Your Own Boss

Christine Bruno

June 29, 2017

The following article was published by the SBA.

I’d like to start out by telling you that it’s perfectly normal to be fearful about owning a franchise business-or any business. As a matter of fact, if...

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(ITIN) Individual Taxpayer Identification Number

Christine Bruno

June 28, 2017

Watch this video to learn how to renew an Individual Taxpayer Identification Number

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IRS Cautions Taxpayers to Watch for Summertime Scams

Christine Bruno

June 27, 2017

The following article was published by the IRS.

The Internal Revenue Service today issued a warning that tax-related scams continue across the nation even though the tax filing season has ended for most taxpayers. People should remain on alert to new and emerging schemes involving the tax system that continue to claim victims.

"We continue...

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5 Mid-Year Tax Planning Strategies

Christine Bruno

June 22, 2017

For many small business owners, thinking about taxes occurs only twice a year … when returns are being prepared and perhaps at the end of the year. This is a mistake. With half of 2017 over, now is a great time to assess where you stand and to take action that will be helpful to your 2017 tax bill.

1. Meet with your tax advisor

The vast majority of...

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How To Use Get Transcript Online

Christine Bruno

June 21, 2017

Learn about the "Get Transcript Online" tool and what you'll need to use it. You'll need to verify who you are because the IRS wants to protect you from fraud. Get started at

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IRS Continues to Expand Taxpayer Services; Adds New Features to Taxpayers Online Account

Christine Bruno

June 20, 2017

The following article was published by the IRS.

The Internal Revenue Service recently announced the addition of several new features to the online account tool first introduced late last year as part of the IRS's commitment to improve and expand taxpayer services.

The online account allows individual taxpayers to access the latest...

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School’s Out for Summer...But Not Your Small Business

Christine Bruno

June 15, 2017

The following article was published by the SBA.

Whether you’re more excited about firing up the grill, relaxing on the beach or being more active, the warm summer months can provide challenges for...

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Tax-Related Identity Theft

Christine Bruno

June 14, 2017

If you think you might be a victim of tax-related identity theft, watch this video and find out what steps to take. Visit

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Tax Tips to Consider for Cash Intensive Small Businesses in the Sharing Economy

Christine Bruno

June 13, 2017

The following article was published by the IRS.

Small business owners that offer goods and services through an online platform may be part of the sharing economy. Some participate part time while others operate full time. Activities such as ride sharing, freelancing, renting a spare bedroom and crowd funding are usually taxable. The IRS has a...

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Business Credit Card Offers: 5 Things You Should Look Out for

Christine Bruno

June 8, 2017

The following article was published by the SBA.

A business credit card is an essential financial tool to keep personal and business expenses separate. “There are plenty of benefits to using a business credit card versus a personal...

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Amending My Return

Christine Bruno

June 8, 2017

If you forgot to claim a credit or need to make other corrections on your tax return, watch this video for tips on amending your

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IRS Explains How Offer in Compromise Works

Christine Bruno

June 6, 2017

The following article was published by the IRS.

Taxpayers who have a tax debt they cannot pay may have heard that they can settle their tax debt for less than the full amount owed. It's called an Offer in Compromise.

Before applying for an Offer in Compromise, here are some things to know:

  • In general, the IRS cannot accept a...

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6 Unwritten Rules Related To Business Etiquette

Christine Bruno

June 2, 2017

The following article was published by the SBA.

I’m sure many of you are familiar with etiquette when it comes to dining. However, did you know that there was a thing such as business etiquette? Similar to dining etiquette, these unwritten...

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Your Retirement Income: 5 Key Risks | Fidelity

Christine Bruno

June 1, 2017

If you worry about if you'll have enough money saved for your retirement, watch this video from Fidelity to learn about 5 key risks that could affect your income stream in...

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Tips for Taxpayers Who Owe Taxes

Christine Bruno

May 30, 2017

The following article was published by the IRS.

The IRS offers a variety of payment options where taxpayers can pay immediately or arrange to pay in installments. Those who receive a bill from the IRS should not ignore it. A delay may cost more in the end. As more time passes, the more interest and penalties accumulate.

Here are some ways...

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Keeping Up with State Workplace Laws

Christine Bruno

May 26, 2017

The following article was published by the SBA.

If you have even one employee, you may be impacted by law changes occurring at your state or local level. Small business owners want to do the best they can for their workers, but often cost limits how generous...

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Part-Time and Summer Jobs

Christine Bruno

May 25, 2017

Did you know income from a part-time or summer job is taxable? Watch this video to learn

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Startups Can Choose New Option for Claiming Research Credit

Christine Bruno

May 24, 2017

The following article was published by the IRS.

Eligible small business startups can now choose to apply part or all of their research credit against their payroll tax liability, instead of their income tax liability, according to the Internal Revenue Service. 

This new option will be available for the first time to any eligible small...

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5 Ways to Get Credit for Your Business

Christine Bruno

May 18, 2017

The following article was published by the SBA.

Did you know business credit can be just as important as having personal credit?

It’s essential for small businesses to get credit so they can have access...

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What You Should Know Before Taking a 401(k) Loan | Fidelity

Christine Bruno

May 17, 2017

Before you think about borrowing money from your 401(k), make sure you know all the implications. Watch this video to learn

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Work Opportunity Tax Credit Can Help Employers Hiring New Workers; Key Certification Requirement Applies

Christine Bruno

May 16, 2017

The following article was published by the IRS.

The Internal Revenue Service today reminded employers planning to hire new workers that there's a valuable tax credit available to those who hire long-term unemployment recipients and others certified by their state workforce agency.

The Work Opportunity Tax Credit (WOTC) is a long-standing...

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12 Ways Your Business Can Make the Most of Mother’s Day

Christine Bruno

May 11, 2017

The article was published by the SBA.

This year, spending on Mother’s Day is projected to hit a record high of $23.6 billion, according to the National Retail Federation. That’s the highest in the annual survey’s 14-year...

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Preparing for Disasters

Christine Bruno

May 10, 2017

Are you prepared for an emergency? Watch this video for tips on safeguarding your important documents whenever a disaster

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Hobby or Business? IRS Offers Tips to Decide

Christine Bruno

May 9, 2017

The following article was published by the IRS.

Millions of people enjoy hobbies that are also a source of income. From catering to cupcake baking, crafting homemade jewelry to glass blowing -- no matter what a person's passion, the Internal Revenue Service offers some tips on hobbies.

Taxpayers must report on their tax return the income...

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Franchise Fees: Why Do You Pay Them And How Much Are They?

Christine Bruno

May 4, 2017

The following article was published by the SBA

There are plenty of myths about franchising. A great deal of them revolve around money. I hear these two statements a...

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IRS Small Business Self-Employed Tax Center

Christine Bruno

May 3, 2017

If you are thinking about starting your own small business and have questions about tax implications, the IRS Small Business and Self-Employed Tax Center is a resource for all...

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For Small Business Week, IRS Highlights Products for Established and Emerging Businesses

Christine Bruno

May 2, 2017

The following article was published by the IRS.

In recognition of National Small Business Week -- April 30 to May 6 -- the Internal Revenue Service is highlighting products to help small business owners and self-employed individuals understand and meet their tax obligations. Some of these tools focus on an emerging area of business activity -- the...

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10 Ways to Get New Customers

Christine Bruno

April 27, 2017

The following article was published by the SBA.

Every small business owner wants to attract new customers. Here are 10 time-tested ways to help you bring in “new blood.”

1. Ask for...

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Private Collection of Overdue Taxes

Christine Bruno

April 26, 2017

If you are contacted by a private collection company claiming that it's on behalf of the IRS, here’s how to know if it's a scam or not. For more information, go to:

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IRS Issues Tips on What to do After the Tax-Filing Deadline

Christine Bruno

April 25, 2017

The following article was published by the IRS.

Tax day has come and gone for most people, but some taxpayers may still be dealing with their taxes. The IRS offers these tips for handling some typical after-tax-day issues:

Didn't File by April 18?

There is no penalty for filing a late return after the tax deadline...

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Startup Business Ideas: 4 Steps to Identify the Right One

Christine Bruno

April 20, 2017

The following article was published by the SBA.

Have you always wanted to start your own business?

Do you have a lot of business ideas but don’t know which one to pursue?

Don’t worry because you’re not alone.  According to Gallup, Inc, 25% of American adults have dreamed of starting their own business but have...

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Getting Married?

Christine Bruno

April 19, 2017

If you recently got married, watch this video and find out how marriage will affect your federal

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Tax Tips to Help You Determine What Makes a Gift Taxable

Christine Bruno

April 18, 2017

The following article was published by IRS.

Taxpayers who give money or property to others may wonder about the federal gift tax and if it applies. Most gifts are not subject to the gift tax.

Here are seven tax tips about the gift tax and giving:

1. Nontaxable Gifts. The general rule is that any gift is potentially...

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Qualified Small Business Stock: What Is It and How to Use It

Christine Bruno

April 13, 2017

The following article was published by the SBA.

Imagine owning stock in a company where the price appreciates greatly, you sell it, and pay no tax on your profit. That’s what can happen with qualified small business stock (QSBS). Also...

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Fine-Tooning Your Retirement – Attorney John | Fidelity

Christine Bruno

April 12, 2017

Do you know where you stand with your retirement? In this video a New York lawyer gets a picture of his by Cartoonist Emily Flake and Fidelity

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Five Tax Tips on Making Estimated Tax Payments

Christine Bruno

April 11, 2017

The following article was published by the IRS.

Taxpayers usually will have taxes withheld from their pay if they are an employee. However, if a person doesn't have taxes withheld, or they don't have enough tax withheld, they may need to make estimated tax payments. Taxpayers that are self-employed normally have to pay their taxes this...

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Financial Fitness for Your Small Business

Christine Bruno

April 6, 2017

The following article was published by the SBA.

On March 31, 2017, President Donald J. Trump proclaimed April National Financial Capability Month and the U.S. Small Business Administration (SBA) is...

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CD Barbells: Discovering certificate of deposit strategies

Christine Bruno

April 5, 2017

Watch this video from Fidelity to learn how you can use a certificate of deposit (CD) barbell strategy and put your cash to

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Top IRS Tips to Know about the Home Office Deduction

Christine Bruno

April 4, 2017

The following article was published by the IRS.

Taxpayers who use their home for business may be able to deduct expenses for the business use of it. Qualified persons can claim the deduction whether they rent or own their home. Use the simplified method or the regular method to claim a deduction.

Here are six tips to keep in mind about the...

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10 Local Marketing Strategies That Work

Christine Bruno

March 30, 2017

The following article was published by the SBA.

If you operate a local business (one that gets most of its customers from within a 75-mile radius) you can try many general marketing strategies, but you have one...

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Fine-Tooning Your Retirement - Robert and Charlotte | Fidelity

Christine Bruno

March 29, 2017

A New York couple gets a clear picture of their retirement by Cartoonist Emily Flake and Fidelity Investments. What questions do you have about your

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Are Tips Taxable? IRS Offers 'Tips' on Tips

Christine Bruno

March 28, 2017

The following article was published by the IRS.

Generally, income received in the form of tips is taxable. The IRS provides some information that helps taxpayers report tip income correctly:

  • Interactive Tax Assistant Tool. The ITA tool is a tax-law resource that asks taxpayers a series of questions and provides a...

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Planning for Your Summer Help: Legal and Tax Issues (Part 1 of 2)

Christine Bruno

March 23, 2017

The following article was published by the SBA.

Many small businesses take on additional help during the summer months. Some use seasonal workers to fill gaps created when full-time employees go on vacation. Others need workers for their...

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Five Money Musts | Fidelity

Christine Bruno

March 22, 2017

Even if you haven't majored in money, you can still educate yourself on the basics. Watch this video for some great

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IRS Reminds Taxpayers of April 1 Deadline to Take Required Retirement Plan Distributions

Christine Bruno

March 21, 2017

The following article was published by the IRS.

The Internal Revenue Service recently reminded taxpayers who turned age 70½ during 2016 that, in most cases, they must start receiving required minimum distributions (RMDs) from Individual Retirement Accounts (IRAs) and workplace retirement plans by Saturday, April 1, 2017.

The...

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10 Stats That Explain Why Business Credit is Important for Small Business

Christine Bruno

March 16, 2017

The following article was published by the SBA.

Statistics have many applications in business and play an important role in making decisions, discovering new trends and making predictions....

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CD Ladders: Discovering certificate of deposit strategies | Fidelity

Christine Bruno

March 15, 2017

Watch this video to learn what a CD ladder is. See how you could earn a little more interest with your extra cash but still have a part of it liquid every 3

Read More...

IRS Offers IRA Tax Tips for the 2016 Tax Year

Christine Bruno

March 14, 2017

The following article was published by the IRS.

Taxpayers often have questions about Individual Retirement Arrangements, or IRAs. Common questions include: When can a person contribute, how does an IRA impact taxes, and what are other common rules.

The IRS offers the following tax tips on IRAs:

  • Age Rules....

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Should You Advertise on Local Radio?

Christine Bruno

March 9, 2017

The following article was published by the SBA.

If your advertising strategy is focused on digital ads and social media, you might be missing out on a highly effective advertising option: radio. Radio advertising has...

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Direct Deposit for Your Tax Refund

Christine Bruno

March 8, 2017

You'll get your tax refund faster if you use direct deposit.  For more information, watch this video or go to

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Debt Cancellation May be Taxable

Christine Bruno

March 7, 2017

The following article was published by the IRS.

If a lender cancels part or all of a debt, a taxpayer must generally consider this as income. However, the law allows an exclusion that may apply to homeowners who had their mortgage debt canceled in 2016.

Here are 9 tips about debt cancellation:

  1. Main Home. If...

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So You Have a Brilliant Idea. What’s Next?

Christine Bruno

March 2, 2017

The following article was published by the SBA.

So you have a brilliant business idea that will be very successful. Now what?

Bad news: You don’t actually own that idea. You can’t sell it. It has no value as just an idea.

Good...

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Extension of Time to File

Christine Bruno

March 1, 2017

Watch this video if you need more time to file your tax return – but you should still pay your taxes by the April due

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Get Credit for Making a Home Energy Efficient

Christine Bruno

February 28, 2017

The following article was published by the IRS.

Taxpayers who made certain energy efficient improvements to their home last year may qualify for a tax credit this year. Here are some key facts to know about home energy tax credits:

Non-Business Energy Property Credit

  • Part of this credit is worth 10 percent of...

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Self-Employment Tax Wrinkles

Christine Bruno

February 23, 2017

The following article was published by the SBA.

Individuals whose businesses are incorporated do not have to think about self-employment tax. Any salary they take from their corporations as owner-employees are subject to...

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Your Taxes in the Sharing Economy

Christine Bruno

February 22, 2017

Have you joined the sharing economy, also called the "on-demand" or "access" economy? If so, there are tax issues that might affect you. Should you file quarterly estimated...

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Check Out These Tax Benefits for Parents

Christine Bruno

February 21, 2017

The following article was published by the IRS.

Taxpayers with children may qualify for certain tax benefits. Parents should consider child-related tax benefits when filing their federal tax return:

  • Dependent. Most of the time, taxpayers can claim their child as a dependent. Use the Interactive Tax Assistant to help...

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5 Simple Questions to Help Determine Your Business Financing Options

Christine Bruno

February 16, 2017

The following article was published by the SBA.

The funding strategy a business selects is something unique to each company and needs to be precise. Before an owner sets out and...

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401(k) Contribution Challenge – Investing Basics | Fidelity

Christine Bruno

February 15, 2017

Instead of keeping up with the neighbors, what if you contributed just 1 percent more to your 401(k) or IRA? In this video, see how saving a little more each month can make a...

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Are Social Security Benefits Taxable?

Christine Bruno

February 14, 2017

The following article was published by the IRS.

If taxpayers receive Social Security benefits, they may have to pay federal income tax on part of those benefits. These IRS tips will help taxpayers determine if they need to do so.

  • Form SSA-1099.  If taxpayers received Social Security benefits in 2016, they should...

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4 Ways to Practice Work-Life Balance in Your Small Business

Christine Bruno

February 9, 2017

The following article was published by the SBA.

Many small business owners will tell you the rise of the internet has changed how they work. Newer...

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Retirement Plan and IRA Rollovers

Christine Bruno

February 8, 2017

If you need to roll over funds from an IRA or retirement plan into another account, make sure you deposit the disbursement into your new account within 60 days or you might have...

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IRS Releases Updated Form 990-EZ; New Options to Help Exempt Organizations Avoid Errors, File a More Accurate Return

Christine Bruno

February 7, 2017

The following article was published by the IRS.

The IRS has announced the release of an updated Form 990-EZ, Short Form Return of Organization Exempt From Income Tax, that will help tax-exempt organizations avoid common mistakes when filing their annual return.

The...

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Closing Down Your Business

Christine Bruno

February 2, 2017

The following article was published by the SBA.

Closing Down Your Business

Are you leaving your business? Maybe you are retiring or handing your business to a relative? Whatever the reason, be smart about how you...

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Dirty Dozen

Christine Bruno

February 1, 2017

The IRS warns you to not be fooled by tax scams and schemes. Watch this video to find out how you can learn more about the Dirty

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Employers Must File Forms W-2 by Jan. 31 This Year

Christine Bruno

January 31, 2017

The following article was published by the IRS.

The Internal Revenue Service today reminds employers that the due date for filing Read More...

Self-Employment Tax Wrinkles

Christine Bruno

January 26, 2017

The following article was published by the SBA.

Individuals whose businesses are incorporated do not have to think about self-employment tax. Any salary they take from their corporations as owner-employees are subject to FICA taxes. In contrast, those with other...

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Direct Deposit for Your Tax Refund

Christine Bruno

January 25, 2017

If you want to get your tax refund quickly, you should use direct deposit. For more information, watch this video or go to

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Many People in Rural America Qualify for Earned Income Tax Credit

Christine Bruno

January 24, 2017

The following article was published by the IRS.

The Internal Revenue Service wants taxpayers living in rural communities to be aware of the Earned Income Tax Credit (EITC) and correctly claim it if they qualify.

Whether living in the big city or a small town, EITC can help. The EITC is a federal income tax credit for working people who...

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How to Use the ‘Rule of Three’ to Create a Business Credit Profile

Christine Bruno

January 19, 2017

The following article was published by the SBA.

Did you know a business credit profile plays a direct role in a company’s ability to obtain credit that can be used to purchase products or services?

Whether you are a startup or...

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Secure Access For IRS Self-Help Tools Protects Your Data

Christine Bruno

January 18, 2017

Watch this video to find out how the IRS is protecting your personal information when you use IRS.gov self-help tools - or...

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How the IRS Taxpayer Bill of Rights Works

Christine Bruno

January 17, 2017

The following article was published by the IRS.

Taxpayers have fundamental rights under the law. The "Taxpayer Bill of Rights" presents these rights in 10 categories. This helps taxpayers when they interact with the IRS.

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6 Tools Every Small Business Owner Needs to Succeed in 2017

Christine Bruno

January 12, 2017

The following article was published by the SBA.

The dawn of 2017 likely brings with it new optimism — not just in your personal life, but for your business as well. But are you ready to take on this new year wisely?

Before you...

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Refund: Claim It or Lose It

Christine Bruno

January 11, 2017

Even if you didn’t file a tax return in past years, did you know you still may be due a refund? If you don't claim your refund within three years, however, your money will...

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IRS, States, Industry Urge Taxpayers to Learn Signs of Identity Theft

Christine Bruno

January 10, 2017

The following article was published by the IRS.

No matter how careful you are, identity thieves may be able to steal your personal information. If this happens, thieves try to turn that data quickly into cash by filing fraudulent tax returns.

The IRS, state tax agencies and the nation's tax industry ask for your help in their effort to...

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The Right Way to Think About Credit Lines for Business

Christine Bruno

January 5, 2017

The following article was published by the SBA.

Access to cash via a line of credit is an important safety net for a small business. Although there are various types of credit lines available, it is the...

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How Much Will Healthcare Cost in Retirement?

Christine Bruno

January 4, 2017

Concerned about how much your healthcare might cost in retirement? Watch this video for

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Employers and Coverage Providers: 11 Facts About Health Care Information Forms

Christine Bruno

January 3, 2017

The following article was published by the IRS.

Under the Affordable Care Act, insurance companies, self-insured companies, and large businesses and businesses that provide health insurance to their employees must submit information returns to the IRS and individuals reporting on health coverage. 

Taxpayers can use the information on...

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What To Do Before The Tax Year Ends Dec. 31

Christine Bruno

December 28, 2016

The following article was published by the IRS.

As tax filing season approaches, the Internal Revenue Service is reminding taxpayers there are things they should do now to get ready for filing season.

For most taxpayers, Dec. 31 is the last day to take actions that will impact their 2016 tax returns. For example, charitable contributions...

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Plan Now to Get Full Benefit of Saver's Credit

Christine Bruno

December 27, 2016

The following article was published by the IRS.

As the tax filing season approaches, the Internal Revenue Service reminds low- and moderate-income workers that they can take steps now to save for retirement and earn a special tax credit in 2016 and years ahead.

The saver's credit helps offset part of the first $2,000 workers voluntarily...

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Your Company’s Charitable Giving

Christine Bruno

December 22, 2016

The following article was published by the SBA.

“Giving is its own reward” said social activist Dorothy Day, but the tax law also provides some benefit to those who give. At this time of the year, attention...

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Claiming EITC or ACTC? Your Refund May Be Delayed

Christine Bruno

December 21, 2016

If you claim the Earned Income Tax Credit or the Additional Child Tax Credit, you should expect your refund to arrive after February 15 even if you file early. Learn more by...

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2017 Standard Mileage Rates for Business, Medical and Moving Announced

Christine Bruno

December 20, 2016

The following article was published by the IRS.

The Internal Revenue Service has issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans,...

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Why December is a Great Time to Review Your Business Plan

Christine Bruno

December 15, 2016

The following article was published by the SBA.

While December is a busy time for small businesses trying to end the year on a high note, it should also be a time for introspection and review. After all, December is National Write a Business Plan...

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Individual Taxpayer Identification Number (ITIN)

Christine Bruno

December 14, 2016

Watch this video for tips on the new procedures for getting an Individual Taxpayer Identification Number (ITIN). For more information, go to

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Tax Preparedness Series: Tax Records What to Keep

Christine Bruno

December 13, 2016

The following article was published by the IRS.

As tax filing season approaches, the Internal Revenue Service has information for taxpayers who wonder how long to keep tax returns and other documents.

Generally, the IRS recommends keeping copies of tax returns and supporting documents at least three years. Some documents should be kept up...

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Accounting Supervisor/Manager

Christine Bruno

December 12, 2016

We are seeking an accounting supervisor/manager for a position in our growing CPA firm located on the South Shore.  The work will entail senior level tax review and some preparation - individual, partnership, S-corporation, C-corporation, trust & gift, as well as review and some preparation of audited, reviewed and compiled financial statements.  

A qualified individual...

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Tax Manager Per Diem

Christine Bruno

December 12, 2016

We are seeking a tax manager for the 2017 tax season.  The work will entail senior level tax review and some preparation - individual, partnership, S-corporation, C-corporation, trust & gift.   

A qualified individual should possess a high degree of independent thinking and be able to communicate well with company employees and clients.  This position also...

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10 Reasons All Business Owners Should Plan

Christine Bruno

December 8, 2016

The following article was published by the SBA.

Whether you're just starting out, growing your business or seeking outside help, good business planning will help you achieve that goal. And take note: this...

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Get your retirement score

Christine Bruno

December 7, 2016

Planning for your retirement but not sure how you are doing? Watch this video and then get your retirement

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Tax Help for Self-Employed and Sharing Economy

Christine Bruno

December 6, 2016

The following article was published by the IRS.

As tax filing season approaches, the Internal Revenue Service wants taxpayers who are self-employed or involved in the sharing economy to know about free resources that are available to help them with their taxes.

Sole proprietors and independent contractors can get helpful information from...

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22 Holiday Marketing Ideas for Local Businesses, Part 1

Christine Bruno

December 1, 2016

The following article was published by the SBA.

Part 1 of 2

Small Business Saturday is over, but it’s not the only opportunity for local small businesses to capture customers’ dollars this...

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Tax Return Errors-Tips To Avoid Them

Christine Bruno

November 30, 2016

Here are some mistakes to avoid when you file your taxes, which could delay your refund. Learn more at

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As Holidays Approach, IRS Reminds Taxpayers of Refund Delays in 2017

Christine Bruno

November 29, 2016

The following article was published by the IRS.

As the holidays approach, the Internal Revenue Service recently reminded taxpayers to remember that a new law requires the IRS to hold refunds until mid-February in 2017 for people claiming the Earned Income Tax Credit or the Additional Child Tax Credit. In addition, new identity theft and refund...

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15 Awesome Ways to Take Advantage of Small Business Saturday

Christine Bruno

November 23, 2016

The following article was published by the SBA.

With Small Business Saturday just around the corner, it’s time to start thinking of ways you can use the occasion to promote your business....

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Registration Now Open for 2017 Advance Monthly Payments of the Health Coverage Tax Credit

Christine Bruno

November 22, 2016

The following article was published by the IRS.

The Internal Revenue Service has opened the new registration and enrollment process for qualified taxpayers to receive the benefit of the Health Coverage Tax Credit (HCTC) on an advance monthly basis during 2017.

Eligible taxpayers can have 72.5 percent of their qualified health insurance...

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Tax Credit for Hiring Veterans

Christine Bruno

November 17, 2016

The following article was published by the SBA.

Many employers have come to learn that veterans make excellent employees. They usually are easily trainable and possess desirable characteristics, such as honesty, loyalty,...

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April 18 is When Your Taxes are Due in 2017

Christine Bruno

November 16, 2016

This year you have a few extra days to file your tax returns as they are not due until April 18. Consider it an early Christmas gift from the IRS! This video explains why as well as advising you on a couple other...

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New Law Sets Jan. 31 W-2 Filing Deadline; Some Refunds Delayed Until Feb. 15

Christine Bruno

November 15, 2016

The following article was published by the IRS.

A new federal law moves up the W-2 filing deadline for employers and small businesses to Jan. 31. The new law makes it easier for the IRS to find and stop refund fraud. It also delays some taxpayer refunds. Those taxpayers claiming the Earned Income Tax Credit or the Additional Child Tax Credit wont...

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Fundamentals of Lean Business Planning

Christine Bruno

November 10, 2016

The following article was published by the SBA.

Every business owner should be aware of lean business planning. It’s a perfect compromise between the old-fashioned formal business plan that is too big and...

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Getting Married?

Christine Bruno

November 9, 2016

If you recently got married or are getting married before December 31st, you should watch this video for some good tips on your new filing

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IRS, Security Summit Partners Expand Identity Theft Safeguards for 2017 Filing Season, Build on 2016 Successes

Christine Bruno

November 8, 2016

The following article was published by the IRS.

The Internal Revenue Service, state tax agencies and industry partners recently finalized plans for 2017 to improve identity theft protections for individual and business taxpayers after making significant inroads this year against fraudulent returns.

Public and private sector leaders...

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The Pros and Cons of Being the Boss

Christine Bruno

November 3, 2016

The following article was published by the SBA.

There are pros and cons to any decisions you make in your life. This includes the small ones and the big ones. In my role as a franchise ownership advisor, I’ve...

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What are Municipal Bonds? | Fidelity

Christine Bruno

November 2, 2016

Watch this video by Fidelity to learn about municipal bonds, including what they are and how they

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IRS Announces 2017 Pension Plan Limitations; 401(k) Contribution Limit Remains Unchanged at $18,000 for 2017

Christine Bruno

November 1, 2016

The following article was published by the IRS.

The Internal Revenue Service recently announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2017. The IRS today issued technical guidance detailing these items in

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10 Ways to Keep Your Mobile Devices (and the Data on Them) More Secure

Christine Bruno

October 27, 2016

The following article was published by the SBA.

Mobile devices pose heightened security risks. Those risks come in several forms.

Devices -- including business data saved on...

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Owe Taxes But Can't Pay?

Christine Bruno

October 26, 2016

Did you recently file your tax return because you filed for an extension this year? Hopefully you were able to pay all the taxes you owed, but if not, here's a good video to...

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Reminder for Parents and Students: Check Out College Tax Credits for 2016 and Years Ahead

Christine Bruno

October 25, 2016

The following article was published by the IRS.

With another school year now in full swing, the Internal Revenue Service recently reminded parents and students that now is a good time to see if they qualify for either of two college tax credits or other education-related tax benefits when they file their 2016 federal income tax returns next...

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Seasonal Employees: What to Know for the Upcoming Holiday Season

Christine Bruno

October 20, 2016

The following article was published by the SBA.

Retailers, food establishments, and some other types of businesses routinely take on more help to handle customers during the holiday season. These...

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Split Decisions: Take a 401(k) loan or not? | Fidelity

Christine Bruno

October 19, 2016

Do you need money fast and wonder if you should borrow from your 401(k)? Watch this video as Samantha tries to resist the temptation to borrow from hers. What would you

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Many Victims of Hurricane Matthew Qualify for Late-Filing Penalty Relief

Christine Bruno

October 18, 2016

The following article was published by the IRS.

The Internal Revenue Service advised taxpayers affected by Hurricane Matthew but not yet covered by a federal disaster declaration with individual assistance that they may qualify for relief from penalties if they are unable to meet Mondays extended deadline for filing 2015 tax returns.

The...

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Back to School: Franchise Business Opportunities in the Children’s Education Industry

Christine Bruno

October 13, 2016

The following article was published by the SBA.

For nine months out of the year, most children attend school. They are learning to read and write. With our fast-moving...

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Record Keeping

Christine Bruno

October 12, 2016

The IRS recommends you keep good records for what you claim on your tax returns. For individual tax returns, you should keep your records and returns for three years. If you own...

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IRS Advises Taxpayers to Prepare for Hurricanes, Floods and Other Natural Disasters

Christine Bruno

October 11, 2016

The following article was published by the IRS. 

The Internal Revenue Service offered advice to taxpayers who may be affected by storms or other natural disasters. The IRS also reminded taxpayers that the agency is here to help including offering a special toll-free number to taxpayers in federally-declared disaster areas, staffed with IRS...

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How to Know When to Change Your Business Plan

Christine Bruno

October 6, 2016

The following article was published by the SBA.

Sometimes you need to stick to your business plan to make it work. Even a mediocre strategy consistently executed over time is better than a series...

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IRS Taxes-Three Easy Ways to Pay

Christine Bruno

October 5, 2016

When it's time to pay your taxes, there are three easy ways to pay. Learn more at

Read More...

IRS Reminds Extension Filers of the Oct. 17 Deadline

Christine Bruno

October 4, 2016

The following article was published by the IRS.

Millions of taxpayers ask for an extra six months to file their taxes every year. If you are one of them, then you should know that Monday, Oct. 17 is the extension deadline in 2016. This is so because Oct. 15 falls on a Saturday. If you have not yet filed, here are some things to keep in mind about...

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Can You Really Start a Business With Just a Smartphone? Yes!

Christine Bruno

September 29, 2016

The following article was published by the SBA.

It might seem a bit surprising it’s absolutely possible to start and run a business from your smartphone. At the very least, you can start a...

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How to Plan Your Financial Goals | Fidelity

Christine Bruno

September 28, 2016

 

Where do you want to be in 5, 10, or 15 years? Watch this two-minute guide for help with setting your future financial goals. These 5 steps can help you plan...

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Newly Married Couples Should Report Marriage to Marketplace

Christine Bruno

September 27, 2016

The following article was published by the IRS.

If you're recently married, you probably have a list of things to do. There's one other thing you should add to that list: a health insurance review. This is particularly important if you enrolled in coverage through a Health Insurance Marketplace and you receive premium assistance in the form of...

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How Net 30 Accounts Help Conserve Business Cash Flow

Christine Bruno

September 22, 2016

The following article was published by the SBA.

For every business, the cash flowing into a company is essential for covering the day to day expenses necessary to operate a business. It keeps...

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Charitable Contributions

Christine Bruno

September 21, 2016

Your charitable contributions are tax deductible if you give to qualified charities and you itemize deductions on your tax returns.

Make sure you keep good records by...

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IRS Urges Taxpayers to Check Their Withholding; New Factors Increase Importance of Mid-Year Check Up

Christine Bruno

September 20, 2016

The following article was published by the IRS.

The Internal Revenue Service recently encouraged taxpayers to consider a mid-year tax withholding checkup following several new factors that could affect their refunds in 2017. Taking a closer look at the taxes being withheld can help ensure the right amount is withheld, either for tax refund...

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Is Out of Home Marketing Right for You?

Christine Bruno

September 15, 2016

The following article was published by the SBA.

The internet has drastically affected all types of traditional small business marketing—except for one. Out-of-home advertising is the only type of advertising that...

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Changed Your Name After Marriage or Divorce?

Christine Bruno

September 14, 2016

If you recently changed your name because of marriage or divorce or any other reason, you need to notify the Social Security Administration before you file your tax return....

Read More...

Home Energy Tax Credits Save You Money at Tax Time

Christine Bruno

September 13, 2016

The following article was published by the IRS.

Certain energy-efficient home improvements can cut your energy bills and save you money at tax time. Here are some key facts that you should know about home energy tax credits:

Non-Business Energy Property Credit

  • Part of this credit is worth 10 percent of the...

Read More...

How to Organize Your Small Business Startup Costs

Christine Bruno

September 8, 2016

The following article was published by the SBA.

Launching or transitioning your side job into a full-time venture is stressful, demanding and exciting. One of the first steps is to consider your startup...

Read More...

Is a Roth IRA Right for You? | Fidelity

Christine Bruno

September 7, 2016

Roth IRAs provide the potential for tax-free growth and withdrawals during retirement.

If you think a Roth IRA might be an option for part of your retirement plan, watch...

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Five Tax Tips for Gambling Income and Losses

Christine Bruno

September 6, 2016

The following article was published by the IRS.

Report any gambling winnings as income on your tax return. Be sure you itemize to deduct gambling losses up to the amount of your winnings. If you are a casual gambler, these tax tips can help:

  1. Gambling income. Income from gambling includes winnings from the lottery,...

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3 Technologies for Streamlining Customer Communications

Christine Bruno

September 1, 2016

The following article was published by the SBA.

Ask the typical small business owner which methods his or her company uses to communicate with customers, and email is likely to be at or near the top...

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Protect Your Clients; Protect Yourself

Christine Bruno

August 31, 2016

Here's a message from the IRS for tax professionals about data security. Protect your clients and your

Read More...

Looking for Work May Impact Your Taxes

Christine Bruno

August 30, 2016

If you are looking for a job in the same line of work, you may be able to deduct some of your job search costs. Here are some key tax facts you should know about when searching for a new job:

  • Same Occupation. Your expenses must be for a job search in your current line of work. You can't deduct expenses for a job search in a new occupation.

Read More...

How Choosing And Buying A Franchise Is Like The 10,000 Meter Run

Christine Bruno

August 25, 2016

The following article was published by the SBA.

The correct way to choose, research and potentially buy a franchise can be likened to running a 10,000-meter race (which equals 6.2137 miles), in which...

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Buy a car or lease it?

Christine Bruno

August 24, 2016

Are you are in the market for a new car and not sure whether you should buy or lease? If so, watch this video for some great

Read More...

Moving Expenses Can Be Deductible

Christine Bruno

August 23, 2016

The following article was published by the IRS.

Did you move due to a change in your job or business location? If so, you may be able to deduct your moving expenses, except for meals. Here are the top tax tips for moving expenses.

In order to deduct moving expenses, your move must meet three requirements:

  1. The move...

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5 Ways to Support Staff with Education and Development

Christine Bruno

August 18, 2016

The following article was published by the SBA.

Back-to-school refrains are in the air, making it a great time to think about how you can help your staff get the education and training they need to...

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Employer Tax Withholding Responsibility

Christine Bruno

August 17, 2016

If you have employees, it is your responsibility to withold taxes for Income, Social Security, and Medicare. You must deposit these witholdings into the U.S. Treasury via the EFTPS (Electronic Federal Tax Payment System).

Read More...

What to Expect at Tax Time if You Rent Out Your Vacation Home

Christine Bruno

August 16, 2016

The following article was published by the IRS.

Renting out a vacation property to others can be profitable. If you do this, you must normally report the rental income on your tax return. You may not have to report the rent, however, if the rental period is short and you also use the property as your home. Here are some tips that you should...

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Is Your Small Business Social Enough?

Christine Bruno

August 11, 2016

The following article was published by the SBA.

Facing the task of building a social media following for your small business can feel like an uphill battle. What’s the use of wracking your brain to create...

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IRS Commissioner: Premium Tax Credit

Christine Bruno

August 10, 2016

If you have a change in circumstances that affects advance payments of the premium tax credit, the Internal Revenue Service commissioner discusses what you should do. For more...

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Four Tax Tips about Hobbies that Earn Income

Christine Bruno

August 9, 2016

The following article was published by the IRS.

Millions of people enjoy hobbies. Hobbies can also be a source of income. Some of these types of hobbies include stamp or coin collecting, craft making and horse breeding. You must report any income you get from a hobby on your tax return. How you report the income from hobbies is different from how...

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6 Things You Need to Know About Your Tax Responsibilities as an LLC

Christine Bruno

August 4, 2016

The following article was published by the SBA.

Do you operate a single “owner” or member limited liability company (LLC)? Thinking of forming a multi-member LLC? Either way, you’re likely to have questions about how...

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23 Money Tips for Any Occasion

Christine Bruno

August 3, 2016

Looking for ways to save more money without changing your quality of living? Try these random yet interesting

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IRS Warns Taxpayers of Summer Surge in Automated Phone Scam Calls; Requests for Fake Tax Payments Using iTunes Gift Cards

Christine Bruno

August 2, 2016

The following article was published by the IRS.

The Internal Revenue Service recently warned taxpayers to stay vigilant against an increase of IRS impersonation scams in the form of automated calls and new tactics from scammers demanding tax payments on iTunes and other gift cards.

The IRS has seen an increase in robo-calls where...

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Helping Employees TaxWise Who Work from Home

Christine Bruno

July 28, 2016

The following article was published by the SBA.

According to GlobalWorkplaceAnalytics.com,* 3.7 million employees (2.8% of the workforce) now work from home at least half the time, and the number of...

Read More...

Health Care Law: Information Reporting for Employers

Christine Bruno

July 27, 2016

If you’re an employer and are still unsure about your annual information reporting responsibilities under the health care law, watch this

Read More...

Check Your Tax Withholding this Summer to Prevent a Tax-Time Surprise

Christine Bruno

July 26, 2016

The following article was published by the IRS.

Each year, many people get a larger refund than they expect. Some find they owe a lot more tax than they thought they would. If this has happened to you, review your situation to prevent a tax surprise. Did you marry? Have a child? Change in income? Life events can have a major impact on your taxes....

Read More...

How to Immediately Become a More Credit Savvy Business Owner

Christine Bruno

July 21, 2016

The following article was published by the SBA.

Credit plays an important role in your personal and business life. It impacts your purchasing power, the interest rates you’ll...

Read More...

IRS Offers Tips on Filing an Amended Tax Return

Christine Bruno

July 20, 2016

The following article was published by the IRS.

You may discover you made a mistake on your tax return. You can file an amended return if you need to fix an error. You can also amend your tax return to claim a tax credit or deduction. Here are 10 tips from the IRS on amending your return:

  1. When to amend. You should...

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Job Opening for Senior Accountant

Christine Bruno

July 19, 2016

Senior Accountant

We are seeking a senior accountant for a position in our growing CPA firm located on the South Shore.  The work will entail senior level tax review and some preparation - individual, partnership, S-corporation, C-corporation, trust & gift, as well as review and some preparation of audited, reviewed and compiled financial statements.   A qualified...

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When to Hire a Copywriter and How to Work With One

Christine Bruno

July 14, 2016

The following article was published by the SBA.

Does your small business need a copywriter? Many small business owners try to save money by writing copy for their marketing materials, websites and ads themselves. However, unless you have experience in marketing copywriting, this generally isn’t a good idea.

Here are some...

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Reminders for Extension Filers

Christine Bruno

July 13, 2016

If weren't ready to file your tax return on April 15 and asked for an extension to file, remember that the deadline is October 15 (unless the 15th falls on a weekend, then you...

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Owe Taxes? These Tips Can Help

Christine Bruno

July 12, 2016

The IRS offers many safe and easy ways to pay your taxes. These tips explain many of them:

  • Mailed tax bills. The IRS sends bills in the U. S. mail. Try to pay soon and in full to avoid any extra charges. If you cant pay in full, youll save if you pay as much as you can. The more you can pay the less interest and penalties you will owe for late payment. The IRS...

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Simple Social Media Guide for Small Businesses

Christine Bruno

July 7, 2016

The following article was published by the SBA.

It’s hard to escape the interest, activity and advantages of social media. Platforms are constantly evolving. With the changing dynamics of the digital communication space, it’s important to...

Read More...

You're Not Actually on a Budget If...

Christine Bruno

July 6, 2016

Many people think they're living by a budget when, in fact, they aren't at all.

Of course, this depends on what your definition of a budget is. A budget is NOT having money...

Read More...

Tax Tips for Students Working this Summer

Christine Bruno

July 5, 2016

Many students get summer jobs. Its a great way to earn extra spending money or to save for later. Here are some tips for students with summer jobs:

1. Withholding and Estimated Tax. If you are an employee, your employer normally withholds tax from your paychecks. If you are self-employed, you may be responsible for paying taxes directly to the IRS. One way to do...

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Fund Your Business Without Sharing It

Christine Bruno

June 30, 2016

The following article was published by the SBA.

Whether it’s a new idea that needs money to start, or an existing business that needs money to grow, there are a lot of funding options that don’t require sharing ownership with...

Read More...

How to Pay Off Debt | Fidelity

Christine Bruno

June 29, 2016

Here are three tips to help you tackle your debt faster. Start by paying down your highest interest credit card first. Watch this video to find out what to do

Read More...

Deadline Reminder for Employers and Providers: Electronically File Information Returns with IRS by June 30

Christine Bruno

June 28, 2016

The following article was published by the IRS.

Self-insured employers, applicable large employers and health coverage providers are reminded that the June 30 deadline to electronically file information returns with the IRS is approaching. The deadline to provide information returns to employees or responsible individuals was March 31. While the...

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What is An EIN and Why Is It Important?

Christine Bruno

June 23, 2016

The following article was published by the SBA.

One of the key responsibilities for many new businesses or businesses that are restructuring is obtaining an Employer Identification Number, or EIN, from the...

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Claiming the Health Coverage Tax Credit

Christine Bruno

June 22, 2016

To see if you can claim the Health Coverage Tax Credit, watch this video or go to

Read More...

Keep in Mind the Child and Dependent Care Credit this Summer

Christine Bruno

June 21, 2016

The following article was published by the IRS.

Day camps are common during the summer months. Many parents enroll their children in a day camp or pay for day care so they can work or look for work. If this applies to you, your costs may qualify for a federal tax credit. Here are 10 things to know about the Child and Dependent Care...

Read More...

The Pros and Cons of Running a Seasonal Business

Christine Bruno

June 16, 2016

The following article was published by the SBA.

In business, entrepreneurs experience peaks and valleys but for small business owners who operate seasonal businesses those ups and downs intensify. The majority...

Read More...

How to Save 1% More for Retirement

Christine Bruno

June 15, 2016

Setting aside just one percent more of each paycheck could help you retire sooner! And if you're in no rush to retire, then it could mean you'll be in much better shape...

Read More...

Interest Rates Remain the Same for the Third Quarter of 2016

Christine Bruno

June 14, 2016

The following article was published by the IRS.

The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning July 1, 2016. The rates will be:

  • four (4) percent for overpayments [three (3) percent in the case of a corporation];
  • four (4) percent for...

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Is Direct Mail Back?

Christine Bruno

June 9, 2016

The following article was published by the SBA.

With email marketing, social media marketing and online marketing grabbing most of the attention in recent years, you might think direct mail marketing is an outdated concept. Think again: Direct mail is enjoying something of a renaissance in both the B2B and B2C worlds, thanks in part to (surprise!)...

Read More...

How To Use Get Transcript Online

Christine Bruno

June 8, 2016

Need a transcript from the IRS? Then learn about the Get Transcript Online tool at https://www.irs.gov/transcript. You'll need to verify your identity and you'll also...

Read More...

Five Facts about the Small Business Health Care Tax Credit

Christine Bruno

June 7, 2016

The following article was published by the IRS.

If you are a small employer, there is a tax credit that can put money in your pocket. The small business health care tax credit benefits employers that:

  • offer coverage through the small business health options program, also known as the SHOP marketplace
  • have fewer than 25...

Read More...

Understand the Law Before Dropping or Reducing Employee Benefits

Christine Bruno

June 2, 2016

The following article was published by the SBA.

Small businesses facing poor or uncertain financial circumstances may be forced to consider drastic employment decisions including layoffs and benefit reductions. If your business faces such decisions, it important to understand your legal rights and obligations concerning employment...

Read More...

Appealing a Tax Dispute

Christine Bruno

June 1, 2016

Have a disagreement with the IRS over your taxes? Watch this video to learn about the IRS Office of Appeals, and what it can do for

Read More...

Beauty and Barber Shops Can Get Help at IRS.gov

Christine Bruno

May 31, 2016

The following article was published by the IRS.

If you are self-employed, visit IRS.gov for all your tax needs. Knowing the tax rules can help your business start, grow and succeed. For example, see IRS Publication 4902, Tips for the Cosmetology and Barber Industry. Here are...

Read More...

Stocks and Bonds 101

Christine Bruno

May 26, 2016

Interested in investing? Watch this video to learn the difference between stocks and

Read More...

Basic Information About Operating Agreements

Christine Bruno

May 25, 2016

The following article was published by the SBA.

If you are seeking a business structure with more personal protection but less formality, then forming an LLC, or limited liability company, is a good consideration.  Regardless of your business structure, some paperwork like an operating agreement is expected. Here are the basics every...

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Amending Your Tax Return: Ten Tips

Christine Bruno

May 24, 2016

The following article was published by the IRS.

You can fix mistakes or omissions on your tax return by filing an amended tax return. If you need to file one, these tips can help.

1. Must be filed on paper. Use Form 1040X, Amended U.S. Individual...

Read More...

Creating A Savings Account For Your Business

Christine Bruno

May 19, 2016

The following article was published by the SBA.

“Save a part of your income and begin now, for the man with a surplus controls circumstances and the man without a surplus is controlled by circumstances.” That was advice given by Henry Buckley, an Australian politician in the 19th century. This sentiment is just as important today for...

Read More...

Health Care Law: Employer Shared Responsibility Payments

Christine Bruno

May 18, 2016

Are you are an employer, and not sure if you’re subject to the employer shared responsibility provision of the health care law? Then watch this video, or go to...

Read More...

Now is a Good Time to Plan for Next Year’s Taxes

Christine Bruno

May 17, 2016

You may be tempted to forget about your taxes once you’ve filed but some tax planning done now may benefit you later. Now is a good time to set up a system so you can keep your tax records safe and easy to find.  Here are some IRS tips to give you a leg up on next year’s taxes:

  • Take action when life changes occur.  Some life events can...

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Stand Out From Big Businesses

Christine Bruno

May 12, 2016

The following article was published by the SBA.

As we celebrate National Small Business Week, the strength of America’s small businesses is at the top of our minds. Small businesses are essential to our communities and help to foster innovation in every industry.

But if you’re running a small business of your own, you may feel...

Read More...

What to Do After You Roll Over Your 401(k) | Fidelity

Christine Bruno

May 11, 2016

Watch this video to learn what you can do after rolling over an old 401(k) into an IRA. Depending on your financial goals, you may want to invest all or part of your assets and...

Read More...

Tax Season is Over – It’s Time for a PTC Check-up

Christine Bruno

May 10, 2016

The following article was published by the IRS.

While you may be tempted to forget all about your taxes and your premium tax credit once you’ve filed your tax return, don’t give in to that temptation.

When you applied for assistance to help pay the premiums for 2016 health coverage through the Marketplace, the Marketplace...

Read More...

Why You Need to Take a Fresh Look at Your Market

Christine Bruno

May 5, 2016

The following article was published by the SBA.

Years ago I was a foreign correspondent in Mexico City, writing for Business Week and other business publications. One of my favorite contacts was an expert with the U.S. Embassy who updated me on Mexican oil industry...

Read More...

Secrets Of A Dream Retirement

Christine Bruno

May 4, 2016

CNNMoney's Christine Romans shares a few keys to a happy retirement. Most Americans spend more time planning their vacation than their retirement. It's never too early to start...

Read More...

What You Need to Know if You Get a Letter in the Mail from the IRS

Christine Bruno

May 3, 2016

The following article was published by the IRS.

Each year, the IRS mails millions of notices and letters to taxpayers for a variety of reasons. If you receive correspondence from us:

  1. Don’t panic. You can usually deal with a notice simply by responding to it.
  2. Most IRS notices are about federal tax returns or tax...

Read More...

5 Ways a New Business Credit Line Can Benefit Your Business

Christine Bruno

April 28, 2016

The following article was published by the SBA.

Having access to cash is an essential part of success in business whether your company is just getting started or has been in operation for quite some time.  Rather than dip into...

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Tax-Related Identity Theft

Christine Bruno

April 27, 2016

Don't be a victim of tax-related identity theft. Know what to watch for to prevent becoming a victim, and learn what steps to take if you are a victim. Visit

Read More...

Things You Should Know about Filing Late and Paying Penalties

Christine Bruno

April 26, 2016

The following article was published by the IRS.

April 18 was this year’s deadline for most people to file their federal tax return and pay any tax they owe. If you are due a refund there is no penalty if you file a late tax return. If you owe tax, and you failed to file and pay on time, you will most likely owe interest and penalties on the...

Read More...

Absenteeism in the Workplace: 7 Ways to Resolve this Bottom Line Killer

Christine Bruno

April 21, 2016

The following article was published by the SBA.

Employees are the lifeblood of a small business but they are also human and need time off to deal with sickness, manage family needs, and fulfill civic commitments like jury duty.

Personal time off...

Read More...

IRS Withholding Calculator

Christine Bruno

April 20, 2016

If your filing status has changed, you can fill out a new W4 to make sure you have the right amount of taxes withheld from your paycheck. That way you won't owe taxes at the end...

Read More...

Paying Your Taxes; Tips to Remember

Christine Bruno

April 18, 2016

The following article was published by the IRS.

The IRS offers several payment options if you owe federal tax. Here are some key points to keep in mind when you pay your taxes this year.

  1. Never send cash. Electronic payment options are the quickest and easiest way to make a tax payment. You can pay online, by phone or with your mobile...

Read More...

Just Started a Business? Understand your Tax Obligations

Christine Bruno

April 14, 2016

The following article was published by the SBA.

If you’re new to business, then wrapping your arms around your tax obligations can seem like an uphill task. The first question you need to ask yourself is which tax laws impact your business from the get-go? It may be safe to assume that your tax obligations kick in once you start making a...

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Missing W-2

Christine Bruno

April 13, 2016

If you are ready to file your taxes but still don't have your W-2, check with your employer first.  And if you've moved, make sure they have your current address. You still...

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Tax Time Guide: Easy Electronic Payment and Payment Agreement Options Available to People Who Owe Tax

Christine Bruno

April 12, 2016

The following article was published by the IRS.

The Internal Revenue Service reminded taxpayers that it’s easier than ever to pay their taxes electronically, and for those who can’t pay on time, quick and easy solutions are available.

This is the seventh in a series of 10 IRS tips called the Tax Time Guide. These tips are...

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6 Low Cost Ways to Test your Business Idea

Christine Bruno

April 7, 2016

The following article was published by the SBA.

So you’ve got a great idea for a new product or solution and you think it’ll be a sure-fire hit.

Not so fast. To find out if your idea has traction, you need to test...

Read More...

3 Steps to Keep Your Portfolio on Track

Christine Bruno

April 6, 2016

Watch this video for some great tips on investing. And after you figure out what investments are right for your portfolio do these three things. 

1. Invest on a regular basis

2. Set an amout...

Read More...

Must-Know Tips about the Home Office Deduction

Christine Bruno

April 5, 2016

If you use your home for business, you may be able to deduct expenses for the business use of your home. If you qualify, you can claim the deduction whether you rent or own your home. You may use either the simplified method or the regular method to claim your deduction. Here are six tips that you should know about the home office deduction:

1. Regular and Exclusive...

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The Power of Cause Marketing

Christine Bruno

March 31, 2016

The following article was published by the SBA.

Are you looking for a way to attract new customers? Social responsibility is a strong selling point when customers are considering purchases. Consider this: A Nielsen global online survey reports that...

Read More...

Get Transcript – Plan Ahead

Christine Bruno

March 30, 2016

If you need a tax return transcript because you are applying for a loan or any other reason, you can get one within 5-10 days by going to

Read More...

Six Facts You Should Know Before Deducting a Charitable Donation

Christine Bruno

March 29, 2016

If you gave money or goods to a charity in 2015, you may be able to claim a deduction on your federal tax return. Here are six important facts you should know about charitable donations.

1. Qualified Charities. You must donate to a qualified charity. Gifts to individuals, political organizations or candidates are not deductible. An exception to this rule is...

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Top 10 Low Cost Start Up Business Ideas You Can Launch Today

Christine Bruno

March 25, 2016

The following article was published by the SBA

Thousands of people all across America dream about starting their own business. No matter what your motivation is for being your own boss, you can start a business much sooner than you...

Read More...

The IRS Is Calling Me? Can This Be for Real?

Christine Bruno

March 24, 2016

The U.S. Treasury Inspector General for Tax Administration warns taxpayers about scammers who impersonate IRS employees. The IRS will never call you demanding immediate...

Read More...

IRS Has Refunds Totaling $950 Million for People Who Have Not Filed a 2012 Federal Income Tax Return

Christine Bruno

March 23, 2016

This article was published by the IRS.

The Internal Revenue Service announced recently that Federal income tax refunds totaling $950 million may be waiting for an estimated one million taxpayers who did not file a federal income tax return for 2012. To collect the money, these taxpayers must file a 2012 tax return with the IRS no later than...

Read More...

10 Essentials of A Marketing Plan in 2016

Christine Bruno

March 18, 2016

The following article was published by the SBA.

Clearly, technology has changed marketing a lot. We fast forward through ads on television and block them on our devices. We have amplified word of mouth in social media. We pour over analytics and metrics. But what about the marketing plan? Has technology changed marketing planning?

One thing...

Read More...

Extension of Time to File

Christine Bruno

March 17, 2016

If you think you won't have your taxes ready to file by April 19th, you can file for an extension. But remember, you still need to pay your taxes by the April due

Read More...

New Reporting Responsibilities for Certain Employers in 2016

Christine Bruno

March 15, 2016

The following article was published by the IRS.

Under the Affordable Care Act, certain employers – known as applicable large employers or ALEs –  may potentially be required to make an employer shared responsibility payment to the IRS if they do not offer

Read More...

Considerations for Buying a Small Business

Christine Bruno

March 10, 2016

The following article was published by the SBA.

Ever walked into a neighborhood business that was recently purchased? The new ownership might have changed the paint color, décor, and equipment in a flash -- maybe even overnight.

If you’ve ever dreamed of revamping a business you visit frequently, you might be a good match for...

Read More...

Health Care Law: Information Reporting for Employers

Christine Bruno

March 9, 2016

If you’re an employer and are not sure about your annual information reporting responsibilities under the new health care law, watch this video from the IRS. If you still...

Read More...

Capital Gains and Losses – 10 Helpful Facts to Know

Christine Bruno

March 8, 2016

The following article was published by the IRS.

When you sell a capital asset, the sale normally results in a capital gain or loss. A capital asset includes most property you own for personal use or own as an investment. Here are 10 facts that you should know about capital gains and losses:

1. Capital Assets. ...

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Understanding Gross Margin

Christine Bruno

March 3, 2016

The following article was published by the SBA.

Ignoring your financial statement is like ignoring the health of your business. Startups and new business owners often overlook understanding gross margin. This can have a direct impact on your ability to effectively...

Read More...

What's a CD Ladder?

Christine Bruno

March 2, 2016

If you want a safe way to invest without risking your principal, watch this video and find out what a CD ladder

Read More...

Determine if the Net Investment Income Tax Applies to You

Christine Bruno

March 1, 2016

If you have income from investments, you may be subject to the Net Investment Income Tax. You may owe this tax if you receive investment income and your income for the year is more than certain limits. Here are some key tips you should know about this tax:

  • Net Investment Income Tax.  The law requires a tax of 3.8 percent on the lesser of either your net...

Read More...

How to Give Your Local Business an Online Marketing Tune-up

Christine Bruno

February 25, 2016

The following article was published by the SBA.

If you operate a “local business” (meaning one that gets most of its customers from your local area), don’t overlook the Internet as an important way to attract new customers...

Read More...

Military Tax Tips

Christine Bruno

February 24, 2016

Did you know there are special tax benefits for members of the Armed Forces? For example, some or all of your combat pay may be tax-free.

For more information, watch this video and then...

Read More...

Six Reasons to Choose Direct Deposit for Your Tax Refund

Christine Bruno

February 23, 2016

The following article was published by the IRS.

When you file your taxes, you have options on how to receive your refund. The best way to get it is by direct deposit. Eight out of 10 taxpayers get their refunds by direct deposit. Here are six good reasons why you should do the same in 2016:

IRS Direct...

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Depositing Your Employees’ Withholdings

Christine Bruno

February 18, 2016

The following article was published by the SBA.

As an employer, when you withhold income taxes or other funds from employees’ paychecks, you’re obligated to apply the funds appropriately in a timely manner. If you fail to do so, you can be...

Read More...

Rollover IRA Basics | Fidelity

Christine Bruno

February 17, 2016

Do you have a retirement plan from a former employer and are not sure what to do with it? In most cases, you have four options.

You can keep the money in your former employer's plan, or move the money to...

Read More...

Individuals May Get New Health Care Information Forms This Year

Christine Bruno

February 16, 2016

The following article was published by the IRS.

Starting this year, you may receive one or more forms providing information about the health care coverage that you had or were offered during 2015. Much like Form W-2 and Form 1099, which include information about the income you received, these forms provide information about your health care...

Read More...

Beyond Your First Employee: How to Plan for and Manage a Growing Small Business Staff

Christine Bruno

February 11, 2016

The following article was published by the SBA.

You did it! You hired your first employee. What a relief to have someone to help you grow your business.

But what about when it’s time to hire a second...

Read More...

Choose a Tax Preparer Wisely

Christine Bruno

February 10, 2016

Make sure your taxes are done right by choosing a paid tax preparer who meets IRS requirements. Remember only enrolled agents, CPAs, and attorneys can represent you before the IRS in all matters. For more...

Read More...

7 Tips to Avoid Presidents Day Rush, IRS Recommends IRS.gov for Quick Answers

Christine Bruno

February 9, 2016

The following article was published by the IRS.

The period around Presidents Day marks the peak busy season for IRS toll-free phone service, but there are faster ways to find answers to your questions.  The Internal Revenue Service provides tools and apps on IRS.gov...

Read More...

4 Steps to Changing Your Business Structure

Christine Bruno

February 4, 2016

The following article was published by the SBA.

There are many reasons to consider a business structure change. With a different business structure, would your business be more successful? Could your sole proprietorship or partnership use more...

Read More...

Earned Income Tax Credit

Christine Bruno

February 3, 2016

If your income is low to moderate, you may qualify for the Earned Income Tax Credit. Watch this video for help in finding out about the Earned Income Tax Credit and how to claim it if you qualify....

Read More...

Exemptions and Dependents: Top Nine Tax Facts

Christine Bruno

February 2, 2016

The following article was published by the IRS.

Most people can claim an exemption on their tax return. It can lower your taxable income. In most cases, that reduces the amount of tax you owe for the year. Here are the top 9 tax facts about exemptions to help you file your tax return.

1. Exemptions Cut Income. ...

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The Power of Emotional Marketing

Christine Bruno

January 28, 2016

The following article was published by the SBA.

It's the time of year when everyone is throwing around predictions — and in the marketing world, emotion is shaping up to be a hot marketing trend for 2016. What does emotional marketing mean, and how can your...

Read More...

Investing and Risk

Christine Bruno

January 27, 2016

Are you ready to invest for the first time? Managing risk is important. The higher the risk, the higher the potential. But there is a time for safer investments. Watch this...

Read More...

Six Tips on Whether to File a 2015 Tax Return

Christine Bruno

January 26, 2016

The following article was published by the IRS.

Most people file a tax return because they have to, but even if you don’t, there are times when you should. You may be eligible for a tax refund and not know it. Here are six tips to help you find out if you should file a tax return:

  1. General Filing Rules. Whether...

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What to Consider Before You Price Your Products

Christine Bruno

January 21, 2016

The following article was published by the SBA.

Pricing your products as you launch your small business? It may be worth taking a second look at your pricing strategy.

Sure, you could count your material costs and base your price on that alone, leaving yourself a...

Read More...

Security Summit: Be Cautious When Using Wi-Fi

Christine Bruno

January 20, 2016

The IRS, states and industry are working to keep you safe from identity theft. Today's tip: Be careful when using Wi-Fi.

Use passwords when using your own network, and...

Read More...

Who Can Represent You Before the IRS?

Christine Bruno

January 19, 2016

The following article was published by the IRS.

 photo laptop-651745_960_720_zpsqb9xg6nb.jpg

Read More...

Start the New Year Off Right: 5 Resolutions for Better Business

Christine Bruno

January 14, 2016

The following article was published by the SBA.

Read More...

Security Summit Identity Theft Tips Overview

Christine Bruno

January 13, 2016

Taxes. Security. Together: To protect you from identity theft, the IRS, states, and tax industry are working together. You can join them with by following these few simple tips....

Read More...

The Individual Shared Responsibility Provision and Your 2015 Income Tax Return

Christine Bruno

January 12, 2016

The following article was published by the IRS.

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Read More...

4 Smart Marketing Resolutions for 2016

Christine Bruno

January 7, 2016

The following article was published by the SBA.

Read More...

What's Diversification?

Christine Bruno

January 6, 2016

Ready to invest? Don't put all your eggs in one basket! Be a smart investor by diversifying your portfolio. Watch this video for some "how to"

Read More...

Tips to Protect Your Personal Information While Online

Christine Bruno

January 5, 2016

The following article was published by the IRS.

 photo startup-593337_960_720_zpsyfdztm0h.jpg

Read More...

6 Steps for Opening a Fitness Center

Christine Bruno

December 31, 2015

The following article was published by the SBA.

Read More...

Taxes. Security. Together.

Christine Bruno

December 30, 2015

The IRS, your state, and the tax industry are working together to protect you from identity theft. Learn what simple steps you can take to help keep your personal and...

Read More...

Eight Facts about New ACA Information Statements

Christine Bruno

December 29, 2015

The following article was published by the IRS.

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Read More...

Nat King Cole - "The Christmas Song"

Christine Bruno

December 24, 2015

From all of us at Bruno P.C., may you and your loved ones have the warmest of

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IRS Tax Calendar

Christine Bruno

December 23, 2015

 

If you're worried about forgetting your tax due dates, watch this video to see how the IRS tax calendar can help. View business due dates and set yourself up...

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2016 Tax Season Opens Jan. 19 for Nation’s Taxpayers

Christine Bruno

December 22, 2015

The following article was published by the IRS.

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Retirement Plan Options to Consider Before Year End

Christine Bruno

December 17, 2015

The following article was published by the SBA.

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IRS Tax Payment Options

Christine Bruno

December 16, 2015

There are options for you when you need to pay your taxes. Watch this video and learn how you can pay your federal income taxes without going into an IRS office. Click "Pay...

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What You Need to Know to Protect Your Passwords

Christine Bruno

December 15, 2015

It’s time to have a word about your password.

Many of us use the same sign-on and password over and over for our online...

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Rebrand Your Business, Step By Step

Christine Bruno

December 10, 2015

This article was published by the SBA.

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Year-End Tax Tips - 2015

Christine Bruno

December 9, 2015

There's no time like the present to start organizing your tax records.

If you plan to itemize deductions (charitable contributions, mortgage interest, and property...

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Top Year-End IRA Reminders from IRS

Christine Bruno

December 8, 2015

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Individual Retirement Accounts, or IRAs, are important...

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7 Tips to Starting a Successful and Legal Child Care Business

Christine Bruno

December 3, 2015

The following article was published by the SBA.

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How Much Will Healthcare Cost in Retirement?

Christine Bruno

December 2, 2015

Did you know 10,000 people reach the age of 65 every day? Because people are living longer, the average retired couple spends much more on health care after the age of 65 than...

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Tips from IRS for Year-End Gifts to Charity

Christine Bruno

December 1, 2015

The following article was published by the IRS.

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Year-End Tax Planning Now

Christine Bruno

November 27, 2015

The following article was published by the SBA.

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Taxes. Security. Together.

Christine Bruno

November 25, 2015

Take a few steps to guard your personal and financial data, both at home and online. Watch this video and learn what you can do to help the IRS, states, and the tax industry in...

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Make a Wise Choice when Selecting a Tax Preparer

Christine Bruno

November 24, 2015

The following article was published by the IRS.

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Top 10 Financial Tools for Small Business Owners

Christine Bruno

November 19, 2015

The following article was published by the SBA.

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How to Plan Your Financial Goals

Christine Bruno

November 18, 2015

If you are ready to get started creating a plan for your financial future, watch this two-minute video. Think about where you want to be in the next 5,...

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Plan Now to Use Health Flexible Spending Arrangements in 2016

Christine Bruno

November 17, 2015

The following article was published by the IRS.

Contribute up to $2,550; $500 Carryover Option Available to Many

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5 Real World Examples of Forecasting a New Product

Christine Bruno

November 12, 2015

The following article was published by the SBA.

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Filing Status

Christine Bruno

November 11, 2015

Not sure of your filing status when you are ready to file your taxes? Watch this video to find out which filing status is right for you.

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Premium Tax Credit: Are You Eligible?

Christine Bruno

November 10, 2015

The following article was published by the IRS.

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How Business Credit Reporting Agencies Work

Christine Bruno

November 5, 2015

The following article was published by the SBA.

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Audits by Mail–What to Do?

Christine Bruno

November 4, 2015

If you receive a letter from the IRS saying your tax return is being audited by mail, don't panic! Watch this video to find out what you should do.

For information about...

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IRS Urges Public to Stay Alert for Scam Phone Calls

Christine Bruno

November 3, 2015

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The following article was published...

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3 Things To Look For In A Franchise

Christine Bruno

October 29, 2015

The following article was published by the SBA.

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Is a Roth IRA Right for You?

Christine Bruno

October 28, 2015

Roth IRAs can be a great option for many investors. They provide the potential for tax-free growth and withdrawals in retirement.

In this video, see three...

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In 2016, Some Tax Benefits Increase Slightly Due to Inflation Adjustments, Others Are Unchanged

Christine Bruno

October 27, 2015

The following article was published by the IRS.

 photo taxes-646509_640_zpscb9rxnbn.jpgRead More...

Tips for Legally Selling Goods at Flea Markets & Craft Shows

Christine Bruno

October 22, 2015

The following article was published by the SBA.

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Simplified Home Office Deduction for Schedule C Filers

Christine Bruno

October 21, 2015

If you are thinking of taking the simplified home office deduction on this year's tax returns, this video will show you how it works, as well as the rules to follow when...

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No Cost-of-Living Adjustment for 2016

Christine Bruno

October 20, 2015

The following article was published by the Social Security Administration.

 photo...</a></p></p></p><p class=Read More...

Create a Marketing Plan to Generate a Steady Stream of Business

Christine Bruno

October 15, 2015

The following article was published by the SBA.

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October 15 Tax Deadline

Christine Bruno

October 14, 2015

If you haven't filed your 2014 tax return yet because you asked for an extension, don't forget that the deadline for filing is October 15, 2015. Learn more at

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IRS.gov has Information to Help You Understand the Health Care Law’s Effect on Your Taxes

Christine Bruno

October 13, 2015

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There is a lot of information in the news and online...

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Top Tips to Lead and Empower Employees

Christine Bruno

October 8, 2015

The following article was published by the SBA.

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3 Things You Need to Know about an Emergency Fund

Christine Bruno

October 7, 2015

Building an emergency fund can help you be more prepared for life's surprises. Watch this video to find out what the only use for your emergency fund should be, and to...

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Health Coverage Providers: Understanding Minimum Essential Coverage

Christine Bruno

October 6, 2015

The following article was published by the IRS.

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10 Quick Tips on Business Plan Summaries

Christine Bruno

October 1, 2015

The following article was published by the SBA. 

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Is Social Security Taxable?

Christine Bruno

September 30, 2015

Do you want to know if your Social Security payments are taxable? You can determine if your Social Security benefits may be taxable by a simple...

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The Health Care Law and You: Nine Facts about Letters Sent by the IRS

Christine Bruno

September 29, 2015

The following article was published by the IRS. 

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7 Secrets to Making PR Work for You

Christine Bruno

September 24, 2015

The following article was published by the SBA.

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Stay at Work or Go Back to School?

Christine Bruno

September 23, 2015

Many young employees wonder whether they need to go back to school for an MBA in order to climb the corporate ladder and eventually attain the success to which they aspire.

While there may be a time and place...

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Am I Eligible to Claim an Education Credit?

Christine Bruno

September 22, 2015

This information was provided by the IRS.

The IRS has an application that will help you determine if you are eligible for certain educational credits or deductions, including the...

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Six Survival Tips for Small Business Continuity

Christine Bruno

September 17, 2015

The following article was published by the SBA.

Read More...

Chip Card Technology 101

Christine Bruno

September 16, 2015

A big change is coming in October 2015, when a new payment standard for small business merchants will begin to be enforced. 

Credit card companies have been converting their cards over to contain an EMV...

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What Information Must a Health Coverage Provider Report to the IRS?

Christine Bruno

September 14, 2015

The following article was published by the IRS.

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Sales Tax and Small Businesses

Christine Bruno

September 10, 2015

The following article was published by the SBA.

Read More...

Understanding the Difference Between a Business Idea and a Plan

Christine Bruno

September 9, 2015

David Abrams, President and Operations Director of the Chroma Color Bar salon, discusses the difference between a business idea and a business plan. Think twice before starting out if you don't have a very specific business...

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Boost Your Tax Knowledge with a Free Learning Program from the IRS

Christine Bruno

September 8, 2015

The following article was published by the IRS.

 photo tax-468440_640_zpsukxperjb.jpgRead More...

Choosing a Business Name: 5 Interesting Things to Know

Christine Bruno

September 3, 2015

The following article was published by the SBA.

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IRS2Go 5.2

Christine Bruno

September 1, 2015

Download the IRS2Go mobile app and you'll be able to check on your refund or make a tax payment. You can also use it to watch IRS educational...

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Job Search Expenses May be Deductible

Christine Bruno

August 31, 2015

The following article was published by the IRS.

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4 Strategies for Sharing Ownership with Employees

Christine Bruno

August 27, 2015

The following article was published by the SBA.

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QuickBooks Customer Stories | Dang Foods

Christine Bruno

August 26, 2015

How can QuickBooks Online help your business?  Hear Vincent and Andrew Kitirattragarn, founders of Dang Foods, share how the software has helped facilitate their...

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How the Health Care Law Affects Aggregated Companies

Christine Bruno

August 25, 2015

The following article was published by the IRS.

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5 Ways to Improve Your Business Credit Scores

Christine Bruno

August 20, 2015

The following article was published by the SBA.

Read More...

QuickBooks Customer Stories | Trash Amps

Christine Bruno

August 19, 2015

Run your business better with QuickBooks! CEO and founder of Trash Amps, Adam Wegener, explains why he likes QuickBooks Online and how QuickBooks gives him the freedom to pursue...

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IRS Reminds Truckers: For Most, Highway Use Tax Return is Due Aug. 31

Christine Bruno

August 18, 2015

This article was published by the IRS.

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Tips for Entrepreneurs

Christine Bruno

August 13, 2015

This article was published by the SBA.

As an entrepreneur, every now and then it is important to take a step back and really take a look at...

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Looking for a Senior Accountant

Christine Bruno

August 12, 2015

We are seeking a senior accountant for a position in our growing CPA firm located on the South Shore. The work will entail senior level tax review and some preparation - individual, partnership, S-corporation, C-corporation, trust & gift, as well as review...

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Eight Things to Know about the Taxpayer Advocate Service

Christine Bruno

August 11, 2015

1. TAS is Your Voice at IRS.  The Taxpayer Advocate Service, or TAS, is your voice at the IRS. We are an independent organization within the IRS.

2. TAS Helps Resolve Problems.  TAS helps...

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Summer Slowdown? Make the Most of It

Christine Bruno

August 6, 2015

The following article was published by the SBA.

While some seasonal businesses hit primetime during the summer, many others see a...

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Part-Time and Summer Jobs

Christine Bruno

August 5, 2015

Yes, income from your part time or summer job is taxable.  And don't forget to file a tax return, even if you only worked a few months.

The...

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Ten Key Tax Facts about Home Sales

Christine Bruno

August 4, 2015

The following article was published by the IRS.

In most cases, gains from sales are taxable. But did you know that if you sell your home, you may not have to pay taxes?

Here are ten facts to keep in mind if...

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7 Tedious Office Tasks You Can and Should Automate

Christine Bruno

July 30, 2015

The following article was published by the SBA.

Why work harder when you can work smarter instead?

Several office...

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How to Pay Off Debt

Christine Bruno

July 29, 2015

A mountain of debt can seem overwhelming, but it becomes much more manageable if you break it down into bite-size pieces. 

Start with tackling credit card debt, as that usually has the highest...

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No Need to Wait Until Oct. 15 Extension Deadline to File

Christine Bruno

July 28, 2015

The following article was published by the IRS.

Oct. 15 is the last day to file 2014 tax returns for most people who requested an automatic six-month extension. However, you can file any time before Oct. 15 if you have...

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4 Tax Actions to Take in July

Christine Bruno

July 23, 2015

The following article was published by the SBA.

Like most small business owners who don’t think of July as an important tax time, you...

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Are You and Your Partner Financially Compatible?

Christine Bruno

July 22, 2015

Most couples believe they communicate very well when it comes to household finances. Are you and your spouse on the same page with money?

Whether the issue is annual...

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Five Tax Tips about Hobbies that Earn Income

Christine Bruno

July 21, 2015

Millions of people enjoy hobbies. They can also be a source of income. Some of these types of hobbies include stamp or coin collecting, craft making, and horse breeding.

You must report any income you get from a hobby on your tax return. How you report...

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Tips on Buying an Existing Small Business or Franchise

Christine Bruno

July 16, 2015

The following article was published by the SBA.

The dream of owning a small business doesn’t always mean...

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What Small Businesses Need to Know About the Switch to Chip Card Technology

Christine Bruno

July 15, 2015

SBA and Square present this webinar about the new EMV chip card technology.  Learn why it's more secure and how it might impact your business. 

Find out about...

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Online Tool Helps Individuals and Employers Estimate Health Care Law Credits and Payments

Christine Bruno

July 14, 2015

The following article is published by the IRS.

The Taxpayer Advocate Service has developed several tools for individuals and...

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What Business Plan Type Is Best for Me? (Pt. 2)

Christine Bruno

July 9, 2015

The following article was published by the SBA.

3. Those Other Types of Plans You May Need

Again, because...

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How Do I Try QuickBooks Online with My Own Data?

Christine Bruno

July 8, 2015

If you are a QuickBooks Pro or Premier user thinking about trying QuickBooks Online, this video will give you tips about how to test drive it with your own data.

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Ten Things to Know about Identity Theft and Your Taxes

Christine Bruno

July 7, 2015

The following article was published by the IRS.

Learning you are a victim of identity theft can be a stressful event. Identity theft is also a challenge to businesses, organizations and government agencies, including the IRS....

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What Business Plan Type Is Best for Me? (Pt. 1)

Christine Bruno

July 2, 2015

The following article was published by the SBA (Part 1 of 2).

Shakespeare wrote, “A rose by any other name would smell as...

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Navigating QuickBooks Online vs. Pro & Premier

Christine Bruno

July 1, 2015

Are you a QuickBooks Pro or Premier user thinking about making the switch to QuickBooks Online? This video will help you to navigate the site from top to bottom and...

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Include a Few Tax Items in Your Summer Wedding Checklist

Christine Bruno

June 30, 2015

The following article was published by the IRS.

If you’re preparing for summer nuptials, make sure you do some tax planning as well. A few steps taken now can make tax time easier next...

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Tips for Entrepreneurs

Christine Bruno

June 24, 2015

The following article was published by the SBA.

As an entrepreneur, every now and then it is important to take a step back and...

Read More...

Social Security: It Pays to Wait

Christine Bruno

June 24, 2015

Are you nearing the age where you can start collecting Social Security benefits?  If you are, and you need it now, take it.

But remember, if you can wait, your...

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Proposed Regulations Offer Guidelines for New State-Sponsored ABLE Accounts for People with Disabilities

Christine Bruno

June 23, 2015

The following article was published by the IRS.

The Internal Revenue Service recently released proposed regulations implementing a new federal law authorizing states to offer specially-designed...

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What a Balance Sheet Reveals About a Small Business

Christine Bruno

June 18, 2015

The following article was published by the SBA.

Do you know what your company is worth?

Understanding your profit and loss...

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International Taxpayers - Foreign Tax Credit

Christine Bruno

June 17, 2015

If you or your spouse paid income taxes to a foreign country, you may be able to claim a tax credit.

For more information on the Foreign Tax Credit, go to IRS.gov,

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Don’t Overlook the Child and Dependent Care Tax Credit This Summer

Christine Bruno

June 16, 2015

The following article was published by the IRS.

Day camps are common during the summer months. Many parents pay for them for their children while they work or look for work. If this applies...

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Harness the Power of Promotional Products

Christine Bruno

June 11, 2015

The following article was published by the SBA.

In a world of social media and online marketing,...

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International Taxpayer's Filing Status If Married to a Nonresident Alien

Christine Bruno

June 10, 2015

If you are married to a non-resident alien and are not sure about your tax filing status, you may find this video helpful.

Generally, when a U.S. citizen is married to a...

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ACA and Employers: How Seasonal Workers Affect Your ALE Status

Christine Bruno

June 9, 2015

The following article was published by the IRS.

When determining if your organization is an

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Three Dangerous Myths in Entrepreneurship

Christine Bruno

June 4, 2015

The following article was published by the SBA.

One thing that bugs me about the...

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Cyberthieves Hack Into IRS System, Grab Personal Data

Christine Bruno

June 3, 2015

Last week we told you about the IRS system getting hacked by cyberthieves.  Here is a video with a little more information.

The hackers were able to get...

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Filing 2014 Foreign Bank Account Reports (FBARs)

Christine Bruno

June 2, 2015

If you have a financial interest in or signature authority over a foreign financial account exceeding certain thresholds, the Bank Secrecy Act may require you to report the account yearly to the IRS by filing a Financial Crimes Enforcement...

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"Get Transcript" App Allows Data Breach in IRS Website

Christine Bruno

May 28, 2015

The IRS has announced that a massive data breach occurred between February and May of 2015 via the "Get Transcript" app on its website, allowing tax returns of more than 104,000 taxpayers to be downloaded by identity thieves.

The "Get Transcript" app has multiple security...

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Preparing for Disasters

Christine Bruno

May 27, 2015

Be prepared for hurricanes or other natural disasters by safeguarding your important documents.

Have your bank statements sent to you by email. For paper documents, scan...

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Top 10 Tips for Deducting Losses from a Disaster

Christine Bruno

May 26, 2015

The following article was published by the IRS.

To mark National Hurricane Preparedness Week, the IRS wants you to know it stands

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The Facts Behind the Figures: Determining the Cost of Goods Sold

Christine Bruno

May 21, 2015

The following article was published by the SBA.

Do you know all of the expenses involved in making your product or delivering your service? If so, then you know what your Cost of Goods Sold (COGS) is....

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Military Tax Tips

Christine Bruno

May 20, 2015

If you are in the military, you should know there are dozens of tax provisions just for you.

If you are on duty outside the U.S., you can postpone the deadline for...

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Find Out How ACA Affects Employers with Fewer Than 50 Employees

Christine Bruno

May 19, 2015

The following information is from the IRS.

Most employers have fewer than 50 full-time employees or full-time equivalent employees and are therefore not subject to the Affordable Care Act’s

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Streamline Your Small Business’s Sales Strategy

Christine Bruno

May 14, 2015

This article was published by the SBA.

Developing strong sales and customer loyalty can be...

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Getting Married?

Christine Bruno

May 13, 2015

Wedding season is already in full gear, with many new brides and grooms making their way to the altar. 

Planning a wedding can be all-consuming, so it's not...

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The Best Age for YOU to Retire

Christine Bruno

May 12, 2015

The following article was published on the SSA blog.

You may be trying to figure out what the most...

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4 Ways to Better Manage Irregular Income

Christine Bruno

May 7, 2015

The following article was published by the SBA.

Dealing with an inconsistent income is one of the hardest and most stressful aspects of being a solo entrepreneur. One minute it’s a feast, next a...

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IRS Online Tax Calendar

Christine Bruno

May 6, 2015


If you are self-employed and are having trouble keeping track of when to make your estimated tax payments, the IRS Tax Calendar can...

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Top 10 Tips to Know if You Get a Letter from the IRS

Christine Bruno

May 5, 2015

The following article was published by the IRS.

The IRS mails millions of notices and letters to taxpayers each year. There are a variety of reasons why we might send you a notice.

Here are the top 10 tips to...

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3 Main Points Before You Establish Credit for Your Business

Christine Bruno

April 30, 2015

The following article was published by the SBA.

There are various factors to consider when deciding to use credit for your business. The most crucial and overlooked component is can you afford to use it?...

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Intuit GoPayment

Christine Bruno

April 29, 2015

Get paid onsite with the Intuit GoPayment app. Download the app.

Turn the swiper option on in the settings tab and plug in the swiper. 

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Start Planning Now for Next Year’s Taxes

Christine Bruno

April 28, 2015

The following article was published by the IRS.

You may be tempted to forget all about your taxes once you’ve filed your tax return. Do not give in to that temptation. If you start your tax planning now,...

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Using the Phone to Market Your Business

Christine Bruno

April 23, 2015

The following article was published by the SBA.

With more and more customers contacting companies online, it may seem as if your business phone doesn’t matter much anymore. But if you aren’t taking advantage...

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Intuit QuickBooks – Invoices and Payments Made Easy

Christine Bruno

April 21, 2015

Make a good impression on your customers when you invoice. Add your company logo and branding to make your invoices look professional. Play with fonts and colors and see how it...

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IRS Reminds Those with Foreign Assets of U.S. Tax Obligations

Christine Bruno

April 21, 2015

The following article was published by the IRS.

The Internal Revenue Service today reminded U.S. citizens and resident aliens, including those with dual citizenship who have lived or worked abroad...

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A Small Business Owner’s Guide to the Hiring Process

Christine Bruno

April 16, 2015

The following article was published on SBA.gov.

The goal of every small business owner is growth, but with growth comes more responsibilities...

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Owe Taxes But Can't Pay?

Christine Bruno

April 14, 2015

File a tax return even if you can't pay in full. That way you avoid a penalty for failing to file.  Pay as much as you can to avoid additional penalties and...

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Find Answers to Your Questions about Incorrect Forms 1095-A and the Premium Tax Credit

Christine Bruno

April 14, 2015

The IRS has provided answers to tax filing questions for individuals who have received incorrect Forms 1095-A, Health Insurance Marketplace Statements.

If you were enrolled in qualifying Marketplace coverage, filed your return using...

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8 Small Business Tax Preparation Mistakes to Avoid

Christine Bruno

April 9, 2015

This article was first published on SBA.gov.

Tax time brings with it a sense of urgency and pressure, and...

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OWN IT on QuickBooks with Office Upgrade

Christine Bruno

April 8, 2015

Maybe you run your own small business from an office.  Or maybe you run it from your pickup truck.

From wherever you run it, run it on QuickBooks and you might find...

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Interactive Tool Helps You Understand Health Care Law’s Effect on Your Taxes

Christine Bruno

April 7, 2015

The Interactive Tax Assistant is an online resource that can answer a wide range of tax questions, including newer areas of the tax law, like the Affordable Care Act. It can answer questions such...

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Help for Taxpayers

Christine Bruno

April 3, 2015

If you have questions about your tax return, the IRS has a few resources to help you.

At IRS.gov you will find tools such as the...

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Still Time to Make Your IRA Contribution for the 2014 Tax Year

Christine Bruno

April 2, 2015

Did you contribute to an Individual Retirement Arrangement last year? Are you thinking about contributing to your IRA now? If so, you may have questions about IRAs and your taxes.

Here are some IRS tax tips about saving for retirement using an IRA.

  • Age rules. You must be under age 70½ at the end of the tax year in order to contribute to a...

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Standard or Itemized: Choose the Deduction Method That’s Best for You

christine Bruno

March 17, 2015

Most people claim the standard deduction when they file their federal tax return. But did you know that you may lower your taxes if you itemize your deductions?

Find out if you can save by doing your taxes using both methods. Usually, the bigger the deduction, the lower the tax you have to pay. You should file your tax return using the method that allows you to pay the least amount of...

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Swimming in Shark-Infested Waters: Avoiding Entrepreneurial Scams, Part 2 of 2

christine Bruno

March 12, 2015

Magic formulas, magic information

Be very careful with people selling names and lists for fat fees. For example, lists of commercial lenders, angel investors or venture capital firms are available free for anybody who can do a competent web search. But they are also sold as scams for hundreds of dollars, packaged as if they were magic formulas for easy money.

Turnkey...

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Making the Move to QuickBooks Online

christine Bruno

March 11, 2015

https://www.youtube.com/watch?v=4yZlv_JvczE

The next generation QuickBooks is here. QuickBooks Online means everything is stored in the cloud.

Now you can access your information seamlessly, anytime, anywhere, with any of your devices. Everything is automatically updated and backed up, and you control who can access what.

Scan receipts into...

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Are You Self Employed? Check Out These IRS Tax Tips

christine Bruno

March 10, 2015

Many people who carry on a trade or business are self-employed. Sole proprietors and independent contractors are two examples of self-employment.

If this applies to you, there are a few basic things you should know about how your income affects your federal tax return.

Here are six important tips about income from self-employment:

SE Income. Self-employment can include...

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Our New Website!

Christine Bruno

March 8, 2015

Bruno P.C. is excited to announce the recent launch of our firm’s new website. We’ve been working very hard to enhance our website and give our firm a fresh look. We’ve also continued to research and identify the latest and greatest technologies to improve the services we provide and ensure we continue to meet your needs.

Take a moment to look around our new website...

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How to Use the Tax Return Preparer Directory

christine Bruno

March 5, 2015

https://www.youtube.com/watch?v=AkJmyOkERa8

Research the qualifications of your tax return preparer with this new IRS tool. Go to irs.gov/chooseataxpro and click on “Directory of Federal Tax Return Preparers with Credentials and Select Qualifications.”

The directory contains a list of tax preparers who have professional credentials. You...

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Swimming in Shark-Infested Waters: Avoiding Entrepreneurial Scams, Part 1 of 2

christine Bruno

March 4, 2015

Are you an entrepreneur looking to get your startup funded? Be careful.

I suppose it’s no surprise that hopeful entrepreneurs are good targets. Too often we’re led to believe that getting investment money is the ultimate victory. Supposedly we’re all going to be successful as soon as some investor says “yes” and we get a big check. And that eagerness to...

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Key Points to Know about Early Retirement Distributions

christine Bruno

March 3, 2015

Some people take an early withdrawal from their IRA or retirement plan.

Doing so in many cases triggers an added tax on top of the income tax you may have to pay.

Here are some key points you should know about taking an early distribution:

1. Early Withdrawals. An early withdrawal normally means taking the money out of your retirement plan before you reach age...

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Oops! Fixing Tax Mistakes

christine Bruno

February 26, 2015

We all make mistakes and when it comes to taxes, it’s all too easy to slip up.

Recognizing mistakes and fixing them as quickly as possible is the key to minimizing interest and penalties and getting back on track.

Employer tax mistakes

Unless you’re a very small employer (with quarterly employment taxes under $2,500), you must deposit employment taxes...

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Interactive Tax Assistant

christine Bruno

February 25, 2015

https://www.youtube.com/watch?v=xkFPSk8qAc8

You can get help preparing to file your tax return by going to IRS.gov. Here you can find answers to your questions using tools such as the Interactive Tax Assistant, or ITA.

The ITA allows you to click on a series of questions you might have about your tax returns, and get answers. Once you’ve filed...

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Five Good Reasons Why You Should Choose Direct Deposit

christine Bruno

February 24, 2015

The best way to get your tax refund is by direct deposit. Here are five good reasons to join the 84 million taxpayers who chose direct deposit last year.

IRS Direct Deposit:

1. Is Fast. The fastest way to get your refund is to electronically file your federal tax return and use direct deposit.

2. Is Convenient. With direct deposit, your refund goes directly into your...

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5 Reasons to Start a Home-Based Internet Business

christine Bruno

February 19, 2015

According to Forbes, more than 52% of all small businesses in the U.S. are home-based. If you’re like most people who dream about starting their own business, now may be the best time to take the first step.

Starting a home-based business on the internet has never been easier and the opportunities have never been greater. Kevin Systrom, co-founder of Instagram, says, “If...

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When Will I Get My Refund?

christine Bruno

February 18, 2015

https://www.youtube.com/watch?v=AnC8tt1wdhI

If you recently filed your tax return, you may be wondering when you will get your tax refund. You’ll be happy to know that more than 9 out of 10 refunds are mailed within 21 days.

You can track the status of your refund using the IRS mobile app called IRS2Go. If you e-file, you can start tracking...

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What You Should Know about the AMT

christine Bruno

February 17, 2015

Even if you’ve never paid the Alternative Minimum Tax before, you should not ignore this tax. Your taxes may have changed so that this may be the year that you need to pay AMT.

You may have to pay this tax if your income is above a certain amount. AMT attempts to ensure that taxpayers who claim certain tax benefits pay a minimum amount of tax.

Here are some things that...

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Prepare Your Small Business for Tax Time

christine Bruno

February 12, 2015

This tax season, like every tax season, small business owners across the country will face innumerable questions and doubts about how to handle their business’s filing.

Should I do them myself? What savings am I missing out on? How can I avoid being audited?

These questions and tasks are so burdensome in fact, that 40% of small business owners say bookkeeping and taxes...

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IRS2Go 5.0

christine Bruno

February 11, 2015

https://www.youtube.com/watch?v=X37jPLwkbh0

If you have a smart phone or tablet, you can download a free mobile app called IRS2Go.

At IRS2Go, you can check the status of your tax refund, get tax tips, and watch informative IRS videos. The videos are available in English, Spanish, and American Sign Language.

For more information, go to...

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Choose the Right Filing Status

christine Bruno

February 10, 2015

It’s important that you use the correct filing status when you file your tax return.

Your status can affect the amount of tax you owe for the year. It may even affect whether you must file a tax return. Keep in mind that your marital status on Dec. 31 is your status for the whole tax year.

Sometimes more than one filing status may apply to you. If that happens, choose...

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How to Guesstimate Your Starting Costs

christine Bruno

February 5, 2015

How much will it take to start that new business you’re thinking of?

Use these simple steps to develop a good estimate. You don’t get to know for sure, but if you have the discipline to break things into meaningful pieces, and then research each of the pieces, you’ll have a good idea.

Starting costs for any new business are a matter of two simple lists. The...

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Choose a Tax Preparer Wisely

christine Bruno

February 4, 2015

https://www.youtube.com/watch?v=XIUfpYuXUNw

When you choose a tax preparer, he or she will be seeing a lot of your personal information. So make sure you choose wisely.

Beware if a tax preparer doesn’t want to sign your return or doesn’t have a tax preparer identification number.

Know your tax preparer’s credentials, and...

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If You Work, The Earned Income Tax Credit Can Work For You!

christine Bruno

February 3, 2015

Since 1975, the Earned Income Tax Credit has helped workers with low and moderate incomes get a tax break each year.

Four out of five eligible workers claim EITC, but the IRS wants everyone who is eligible to claim this credit.

Here are some things you should know about this valuable credit:

Review your eligibility. If you worked and earned under $52,427, you may...

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5 Things to Know About Guaranteeing Your Company’s Debt

christine Bruno

January 29, 2015

The following article was published by the SBA.

When your company needs financing, it may be difficult or impossible to obtain it unless you give your personal guarantee. This means if the company fails to pay its debt, you’re on the hook.

Obligations for which you may be asked for your unsecured promise to pay if the company doesn’t are not limited to bank loans...

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Dirty Dozen

christine Bruno

January 28, 2015

https://www.youtube.com/watch?v=ghQp0DxzY6g 

Each year, the IRS releases a list of the top 12 tax scams, better known as the “Dirty Dozen”.

Identity theft, phone scams, and return preparer fraud are just a few of the schemes you need to look out for.

For more information, go to IRS.gov and search for “dirty...

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Six Tips on Who Should File a 2014 Tax Return

christine Bruno

January 27, 2015

The following article was recently published by the IRS.

Most people file their tax return because they have to, but even if you don’t, there are times when you should. You may be eligible for a tax refund and not know it.

This year, there are a few new rules for some who must file.

Here are six tax tips to help you find out if you should file a tax...

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5 Pillars of Small Businesses Success

christine Bruno

January 22, 2015

What does it take for a small business to achieve success?

Whether you’re already in business, or preparing to start a business, it takes hard work, tenacity and drive to achieve a high level of success.

Lori Greiner, star shark of ABC’s “Shark Tank”, says, “Entrepreneurs are willing to work 80 hours a week to avoid working 40 hours a...

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Earned Income Tax Credit

christine Bruno

January 21, 2015

https://www.youtube.com/watch?v=3hnRjsdGd5Y 

According to the IRS, 1 in 5 taxpayers overlooks the Earned Income Tax Credit.

If you worked any part of last year and earned around $52,000 or less, you may qualify.

The amount of the credit you get depends on factors such as income and family size. Last year, the average credit amount was...

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National Taxpayer Advocate Delivers Annual Report to Congress

christine Bruno

January 20, 2015

National Taxpayer Advocate Nina E. Olson released her 2014 annual report to Congress last week, expressing concern that taxpayers this year are likely to receive the worst levels of taxpayer service since at least 2001 when the IRS implemented its current performance measures.

The report recommends that Congress enact a principles-based “Taxpayer Bill of Rights”, adopt...

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4 Smart Marketing Resolutions for 2015

christine Bruno

January 15, 2015

Have you resolved to take your small business to bigger and better heights in 2015?

Then one of the best moves you can make is to upgrade your marketing.

Here are four marketing resolutions that every small business owner should consider making for 2015.

1.) Invest more money in your marketing. I see so many small business owners who make the (sometimes fatal) mistake...

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Do I Have To File a Tax Return?

christine Bruno

January 14, 2015

https://www.youtube.com/watch?v=Bx5BIMRDPVI

Every year people want to know if they have to file a tax return.

Most of the time, this depends on your filing status, your age, and your income.

Also, if you purchased health insurance through the Health Insurance Marketplace and received advance payments of the Premium Tax Credit, or want to...

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Health Care Law Brings Changes to IRS Tax Forms

christine Bruno

January 13, 2015

new healthcare tax formsThis year, there are some changes to tax forms related to the Affordable Care Act.

Along with a few new lines on existing forms, there will also be two new forms that will need to be included with some tax returns. While most taxpayers will simply need to check a box on their tax return to indicate they had health coverage for all of 2014, there are also new...

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5 Ways to Build Trust in a Business

christine Bruno

January 8, 2015

The most valuable business commodity is trust.

Richard Branson, author and founder of Virgin Group says, “Building trust in your brand isn’t easy to achieve and it may take time, but it doesn’t have to come at a high cost. With honesty, ambition, hard work and attention to detail you can instill a level of trust that will enable you to move...

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What to Expect at Tax Time

christine Bruno

January 7, 2015

Form 1040 will have a few new lines this year because of the Affordable Care Act. For most people, all you’ll do is check a box stating you have health insurance.

If you bought a health insurance policy from the Health Insurance Marketplace, you will receive a statement from the marketplace about your policy.

There will be lines to claim the premium tax credit, or to...

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New Standard Mileage Rates Now Available; Business Rate to Rise in 2015

christine Bruno

January 6, 2015

The Internal Revenue Service recently issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.

Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup, or panel truck will be:

57.5 cents per mile for business miles driven, up from 56...

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New IRS Publication helps you understand the Health Care Law

christine Bruno

January 2, 2015

There is a new publication that will help you learn about how the Affordable Care Act affects your taxes. IRS Publication 5187, Health Care Law:

What’s New for Individuals and Families is now available on IRS.gov/aca. While the health care law has several parts, this publication breaks down what’s new for the 2014 federal tax return you will be filing in 2015.

This...

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Tax Season Opens As Planned Following Extenders Legislation

christine Bruno

December 30, 2014

Following the passage of the extenders legislation, the Internal Revenue Service announced this week that it anticipates opening the 2015 filing season as scheduled in January.

The IRS will begin accepting tax returns electronically on Jan. 20. Paper tax returns will begin processing at the same time.

The decision follows Congress renewing a number of “extender”...

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Year End Moves, Continued…

christine Bruno

December 26, 2014

Adjust Your Federal Income Tax Withholding. If it looks like you are going to owe income taxes for 2014, consider bumping up the federal income taxes withheld from your paychecks now through the end of the year.

When you file your return, you will still have to pay any taxes due less the amount paid in. However, as long as your total tax payments (estimated payments plus...

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Carol of the Bells (for 12 Cellos) – ThePianoGuys

christine Bruno

December 24, 2014

https://www.youtube.com/watch?v=e9GtPX6c_kg

Happy Holidays to you and yours, from all of us at Bruno Accountants!

This entry was posted in Company News, Video, Year-End and tagged Bruno Accountants, Carol of the Bells, Happy Holidays, Plymouth MA accountant, The Piano...

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Ideas For The Office

christine Bruno

December 23, 2014

Maximize Contributions to 401(k) Plans. If you have a 401(k) plan at work, it’s just about time to tell your company how much you want to set aside on a tax-free basis for next year. Contribute as much as you can stand, especially if your employer makes matching contributions. You give up “free money” when you fail to participate to the max for the match.

Take...

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Year-End Moves for Seniors Age 70½ Plus

christine Bruno

December 18, 2014

Take Your Required Retirement Distributions.

The tax laws generally require individuals with retirement accounts to take withdrawals based on the size of their account and their age beginning with the year they reach age 701/2. Failure to take a required withdrawal can result in a penalty of 50% of the amount not withdrawn.

If you turned age 701/2 in 2014, you can delay your...

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Help for Taxpayers

christine Bruno

December 17, 2014

https://www.youtube.com/watch?v=_yA-UvqZwSo

The IRS has many resources to help you at IRS.gov as the tax year comes to an end.

To research tax laws or credits, use the Interactive Tax Assistant.

If you want to search for specific tax topics or publications, use the IRS tax map.

You can also read or listen to information on hundreds...

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Charitable Giving and Year-End Investment Moves

christine Bruno

December 16, 2014

Charitable Giving

You might want to consider two charitable giving strategies that can help boost your 2014 charitable contributions deduction.

First, donations charged to a credit card are deductible in the year charged, not when payment is made on the card. Thus, charging donations to your credit card before year-end enables you to increase your 2014 charitable donations...

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Managing Your Adjusted Gross Income (AGI)

christine Bruno

December 11, 2014

Many tax deductions and credits are subject to AGI-based phase-out, which means only taxpayers with AGI below certain levels benefit. [AGI is the amount at the bottom of page 1 of your Form 1040—basically your gross income less certain adjustments (i.e., deductions), but before itemized deductions and the deduction for personal exemptions.]

Unfortunately, however, the applicable...

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IRS Tax Payment Options

christine Bruno

December 10, 2014

https://www.youtube.com/watch?v=3oJAddoXtGQ 

There are a number of ways to make your tax payments online.

Direct Pay might be the best option. There are no fees and no sign-ups.

If you or your tax preparer E-file your tax return, you can also pay using your checking or savings account.

Finally, you can sign up for EFTPS...

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Year-End Moves for Your Business

christine Bruno

December 9, 2014

Employ Your Child. If you are self-employed, don’t miss one last opportunity to employ your child before the end of the year.

Doing so has tax benefits in that it shifts income (which is not subject to the Kiddie tax) from you to your child, who normally is in a lower tax bracket or may avoid tax entirely due to the standard deduction.

There can also be payroll tax...

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Year-End Tax Planning for 2014

christine Bruno

December 4, 2014

Year-end planning will be more challenging than normal this year. Unless Congress acts, a number of popular deductions and credits expired at the end of 2013 and won’t be available for 2014.

Deductions not available this year include, for example, the election to deduct state and local sales taxes instead of state and local income taxes and the above-the-line deductions for...

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Making the Move to QuickBooks Online

christine Bruno

December 3, 2014

https://www.youtube.com/watch?v=4yZlv_JvczE

QuickBooks Online is everything you love about your current QuickBooks, now streamlined and better than ever.

You can still use it from your computer, but now you can take your business further, because QuickBooks goes wherever you do.

You can seamlessly connect between your home and office...

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Six IRS Tips for Year-End Gifts to Charity

christine Bruno

December 2, 2014

Many people give to charity each year during the holiday season.

Remember, if you want to claim a tax deduction for your gifts, you must itemize your deductions.

There are several tax rules that you should know about before you give. Here are six tips from the IRS that you should keep in mind:

Qualified charities. You can only deduct gifts you give to qualified...

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Feeding Your Employees: What Can You Deduct?

christine Bruno

November 28, 2014

It’s common for companies to pay for employee meals under a variety of circumstances. They may be on the road for company business or in your lunchroom snacking.

From a tax perspective, the circumstances under which you furnish food determine the extent to which you can write off your costs.

Business travel

If you cover the cost of meals for employees who travel...

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Gift Tax

christine Bruno

November 26, 2014

https://www.youtube.com/watch?v=dkY6mMZMHak 

If you gave someone a gift of money or property this year, you may need to file a federal gift tax return – but only if your gift was more than $14,000.

There are exceptions to the $14,000 limit, such as if you gave the gift to your spouse or to a charity.

Other exceptions include...

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Plan Now to Get Full Benefit of Saver’s Credit

christine Bruno

November 25, 2014

Tax Credit Helps Low- and Moderate-Income Workers Save for Retirement

Low- and moderate-income workers can take steps now to save for retirement and earn a special tax credit in 2014 and years ahead, according to the Internal Revenue Service.

The saver’s credit helps offset part of the first $2,000 workers voluntarily contribute to IRAs and 401(k) plans and similar...

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What Kind of Business Insurance Do You Need?

christine Bruno

November 20, 2014

Business insurance is one of those gray areas. Do you need it or don’t you, and, if so, what kind? For certain businesses – for example, amusement parks and health care related industries – it’s an absolute necessity from the get-go, but what if you run a freelance business or engage in low-risk work? Is business insurance a requirement?

While it may not seem...

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Year-End Tax Tips

christine Bruno

November 19, 2014

https://www.youtube.com/watch?v=VxXlPwXxVHE 

Start getting your records together now to make tax time easier, such as information about your health care coverage.

For all planned itemized deductions, you must have paid for the deductible items by the end of the year. If you think you need more deductions this year consider paying your January...

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IRS Announces Tax Guidance Related to Ebola Outbreak in Guinea, Liberia and Sierra Leone

christine Bruno

November 18, 2014

WASHINGTON — The Internal Revenue Service has issued two items of guidance in response to the need for charitable and other relief due to the Ebola outbreak in Guinea, Liberia and Sierra Leone.

One provides special relief intended to support leave-based donation programs to aid victims who have suffered from the Ebola outbreak in those countries. The other designates the Ebola...

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Give Thanks to Your Customers

christine Bruno

November 13, 2014

For retailers, this time of year is a hum of activity preparing for holiday sales.

While B2B companies may find the holidays a slowdown, rather than a time of intense activity, smart B2B entrepreneurs will seize the season as an opportunity to build relationships with customers.

What better way to do that (and what better time of year to do it) than by rewarding your loyal...

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What the IRS is Doing to Educate and Inform about the Affordable Care Act

christine Bruno

November 12, 2014

https://www.youtube.com/watch?v=PbbepRPHtMs

The IRS has established a special section at IRS.gov to educate and inform taxpayers. Go to IRS.gov/ACA to see how the Affordable Care Act will affect you as you prepare to file taxes this spring.

The IRS is also developing health care tax tips and reaching out via social media on YouTube, Twitter, and...

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Still Time to Act to Avoid Surprises at Tax-Time

christine Bruno

November 11, 2014

Even though only a few months remain in 2014, you still have time to act so you aren’t surprised at tax-time next year.

You should take steps now to avoid owing more taxes or getting a larger refund than you expect.

Here are some actions you can take to bring the taxes you pay in advance closer to what you’ll owe when you file your tax return:

Adjust your...

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5 Ways To Prepare for Small Business Saturday

christine Bruno

November 6, 2014

November 29th is Small Business Saturday! That’s right, the day after Black Friday and before Cyber Monday is your chance to make a lasting impact in your community by encouraging shoppers to shop local.

But just how big an impact does the day have? According to research by American Express and the National Federation of Independent Business, consumers who were aware of Small...

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Tax Scams

christine Bruno

November 5, 2014

https://www.youtube.com/watch?v=0y5z0kWgBcM

The IRS has seen an increase in tax scams. Some con artists even claim to be from the IRS.

If someone calls you and claims to be from the IRS demanding an immediate payment, don’t believe them. The IRS does not make angry or harassing calls. And they always mail you an official notice...

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In 2015, Various Tax Benefits Increase Due to Inflation Adjustments

christine Bruno

November 4, 2014

For tax year 2015, the Internal Revenue Service has announced annual inflation adjustments for more than 40 tax provisions, including the tax rate schedules, and other tax changes.

Revenue Procedure 2014-61 provides details about these annual adjustments.

The tax items for tax year 2015 of greatest interest to most taxpayers include the following dollar amounts:

The...

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5 Scary Excuses That Are Keeping You from Starting a Business (But Shouldn’t)

christine Bruno

October 30, 2014

Are you thinking about starting a business?

If you’re like many people, starting a business is a cherished dream. Sure, you can see yourself doing what you love and creating something for yourself and your family.

But maybe the actual step forward eludes you.

What’s stopping you is fear. It’s understandable to be apprehensive about such a large...

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Intuit QuickBooks — Startup Financial Planner

christine Bruno

October 29, 2014

https://www.youtube.com/watch?v=q8AYE23QfD4

Starting a business can be challenging. Before you start, consider doing some research.

This start-up financial planner by QuickBooks will answer many questions you may have if you are thinking about starting a business.

Select your industry and find out how much running that business will actually...

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Apply for an Employer Identification Number (EIN) Online

christine Bruno

October 28, 2014

No need to file a Form SS-4! We ask you the questions and you give us the answers. After all validations are done you will get your EIN immediately upon completion. You can then download, save, and print your EIN confirmation notice.

Purpose of an Employer Identification Number
Employer Identification Numbers are issued for the purpose of tax administration and are not intended...

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Small Business Saturday is November 29

christine Bruno

October 23, 2014

https://www.youtube.com/watch?v=4hAyaRr9zZY

Small Business Saturday was founded by American Express in 2010. Over the past five years, it’s grown in popularity and support.

As a small business owner, this day is a chance to find new customers and give your business a boost as you head into the holiday season. This Nov 29, why not become a...

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QuickBooks 2014 — Easy to Use, On Any Device

christine Bruno

October 22, 2014

Did you know that with QuickBooks 2014, you can run your entire business?

You can track your sales, and pay your employees. You can run reports or scan receipts, which makes life easier at tax time. You can quickly create invoices and even receive payments on the go.

You can also sync everything you do with your computer, tablet, and smart phone.

Getting started is...

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Information for Employers about Their Responsibilities Under the Affordable Care Act

christine Bruno

October 21, 2014

If you are an employer, the number of employees in your business will affect what you need to know about the Affordable Care Act (ACA).

Employers with 50 or more full-time and full-time-equivalent employees are generally considered to be “applicable large employers” (ALEs) under the employer shared responsibility provisions of the ACA. Applicable large employers are...

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10 Questions to Ask on Your First Phone Call With Franchise Headquarters

christine Bruno

October 16, 2014

It may end up being the most important phone call you’ll ever have as it relates to your decision to become your own boss.

The phone call I’m referring to: your first call with a representative from franchise headquarters of the franchise concept you’re interested in learning about.

In this post, I’m going to prepare you for the call and provide some...

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Form 5500-EZ Pilot Penalty Relief Program

christine Bruno

October 15, 2014

https://www.youtube.com/watch?v=qb3iImTLeow 

The IRS has a new penalty relief program to help small businesses file past-due Form 5500-EZ retirement plan returns. The program helps taxpayers file late returns and avoid penalties which could range upward of $15,000 per late return, plus interest.

There’s no filing fee for this form. The...

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Tax-filing and Payment Extensions Expire Oct. 15

christine Bruno

October 13, 2014

The Internal Revenue Service is urging taxpayers whose tax-filing extension runs out on Oct. 15 to double check their returns for often-overlooked tax benefits and then file their returns electronically.

More than a quarter of the nearly 13 million taxpayers who requested an automatic six-month extension this year have yet to file. Although Oct. 15 is the last day for most people,...

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The Power of Words in Business

christine Bruno

October 9, 2014

Words can be a very powerful tool. They can help you connect with customers, assist in negotiation and, ultimately, they can help you build your business. That’s why it’s vital to pick your words wisely.

Sometimes otherwise great words and phrases lose their meaning. They get so diluted by overuse that they end up meaning nothing at all. And that’s why it’s...

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Basics of Indoor Tanning Services Excise Tax

christine Bruno

October 8, 2014

https://www.youtube.com/watch?v=tkM61Utg1_o

Did you know businesses that offer indoor ultraviolet tanning services must pay a 10% excise tax on the tanning services?

If tanning is bundled with other services, you only pay on the part that is estimated to be the tanning portion.

You must pay the tax each quarter and file using Form 720. Look...

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Using the Interactive Tax Assistant (ITA)

christine Bruno

October 7, 2014

The Interactive Tax Assistant (ITA) tool is a tax law resource that takes you through a series of questions and provides you with responses to tax law questions.

Simply answer the questions and click the “Continue Button” to progress to the next question screen.
When you reach the response screen, you have the option to print the entire interview and the final...

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How to Take Your Solopreneurship to the Next Level

christine Bruno

October 2, 2014

If you’re like nearly 18 million people in the US, you’re operating your business as a solopreneur. That means you’ve been doing everything, from making sales to refilling the printer paper. But what happens when your business grows beyond what you can do on your own?

It’s time to call in reinforcements. But it’s not just a matter of hiring a few...

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Oct 15 Tax Deadline

christine Bruno

October 1, 2014

https://www.youtube.com/watch?v=ZTvDVNKXII0

If you filed a tax extension last April, the deadline to file your return (October 15) is fast approaching!

Check to see if you are eligible for any tax deductions, including those for families with low or moderate income, or those for small businesses. You may qualify for a credit if you made your home...

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Miscellaneous Deductions Can Cut Taxes

christine Bruno

September 30, 2014

You may be able to deduct certain miscellaneous costs you pay during the year. Examples include employee expenses and fees you pay for tax advice. If you itemize, these deductions could lower your tax bill.

Here are some things the IRS wants you to know about miscellaneous deductions:

Deductions Subject to the Two Percent Limit. You can deduct most miscellaneous costs only if...

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When to Get Small Business Advice from the Pros

christine Bruno

September 25, 2014

What you don’t know can hurt you. This is especially true for small business owners, who need to comply with a myriad of tax laws, government regulations and other requirements.

Getting expert advice will help you avoid legal, financial and tax pitfalls – but hiring a lawyer can be expensive, costing you cash that could be used to grow your business.

Since every...

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Premium Tax Credit

christine Bruno

September 24, 2014

https://www.youtube.com/watch?v=T3myAaV2yvI

People with moderate incomes might want to take advantage of the Premium Tax Credit. Getting your health insurance through the Health Insurance Marketplace may make purchasing health insurance more affordable.

To qualify, you need to meet these four components:

Your income must be within certain...

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Make A Mistake? Amend Your Tax Return

christine Bruno

September 23, 2014

Don’t worry if you made a mistake on your tax return or forgot to claim a tax credit or deduction. You can fix it by filing an amended return.

Here are 10 tips that you should know about amending your federal tax return:

1. When to amend. You should amend your tax return if you need to correct your filing status, the number of dependents you claimed, or your total...

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Freshening Up for Fall: 3 Ways to Tidy Your Small Business

christine Bruno

September 18, 2014

Summer is nearly over, signaling the start of school for students and teachers and the end of the fiscal year for the federal government and businesses throughout the country.

This change of seasons is also a good opportunity to take a break from the frantic day-to-day grind and find new ways to reboot your small business. Let’s call it a bit of spring-cleaning for...

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Taxpayer Bill of Rights

christine Bruno

September 17, 2014

https://www.youtube.com/watch?v=EAwkm8aro1k

Did you know you have a Bill of Rights as a taxpayer?

Here are the 5 of the 10 fundamental rights you have as a taxpayer:

The right to be informed.
The right to quality service.
The right to challenge the position of the IRS and be heard.
The right to a fair and just tax system.

Read More...

Five Easy Ways to Spot a Scam Phone Call

christine Bruno

September 16, 2014

The IRS continues to warn the public to be alert for telephone scams and offers five tell-tale warning signs to tip you off if you get such a call.

These callers claim to be with the IRS. The scammers often demand money to pay taxes. Some may try to con you by saying that you’re due a refund. The refund is a fake lure so you’ll give them your banking or other private...

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Use Your Business Plan to Get Ownership in Writing

christine Bruno

September 11, 2014

Way too often, you can add up the percent of ownership in the heads of the partners and discover between them they think they own 200% of the company.

That’s because one thinks the idea was worth 50% or more of the ownership, the other thinks the day-to-day work was worth 50% or more of the ownership, and another thinks having written checks and invested was worth 50% or more of...

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Business Resources for Veterans

christine Bruno

September 10, 2014

https://www.youtube.com/watch?v=w4WOIw8e8_0

The Small Business Administration (SBA) offers support for veterans looking to start their own business.

The Office of Veterans Business Development is devoted to promoting entrepreneurship for veterans.

Customized curriculums, in-person classes, and instructor-led online courses are all designed...

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Getting Married Can Affect Your Premium Tax Credit

christine Bruno

September 9, 2014

The IRS reminds newlyweds to add a health insurance review to their to-do list. This is particularly important if you receive premium assistance through advance payments of the premium tax credit through a Health Insurance Marketplace.

If you, your spouse or a dependent gets health insurance coverage through the Marketplace, you need to let the Marketplace know you got married....

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Carryovers of Unused Tax Breaks: Use ‘Em or Lose ‘Em

christine Bruno

September 4, 2014

New taxpayers, such as recent graduates who’ve just entered the job market, probably have a clean tax slate. But seasoned taxpayers have a history that can impact their taxes going forward.

Due to limitations and restrictions, some tax breaks cannot be fully used in the year in which they are generated but can be carried over and used in other years. Failing to know what these...

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Individual Shared Responsibility-Overview

christine Bruno

September 3, 2014

https://www.youtube.com/watch?v=GBEJTcFuVm0

Yes, the new health care law can affect your taxes.

If you don’t have coverage for all or part of the year, you may need to make a payment called an Individual Shared Responsibility Payment.

However, you may be eligible for an exemption if you don’t need to file a tax return or if you...

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Learn about Our Tax System with “Understanding Taxes”

christine Bruno

September 2, 2014

Did you know there’s a free, online program to help teachers and students – or others who may be interested – learn the “hows” and “whys” of taxes?

The IRS calls it “Understanding Taxes.” It was designed by the IRS and teachers to make learning about federal taxes as easy as A-B-C:

Accessible (web-based)
Brings...

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6 Franchise Purchasing Tips

christine Bruno

August 28, 2014

It can be pretty overwhelming to find a franchise business opportunity that you feel is right for your town, your investment level, and your skills.

There are so many choices these days, with new franchise opportunities appearing all the time.

Lucky for you, I have some steps you can take to help you make the purchasing process easier to manage.

1. Use The...

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Is Social Security Taxable?

christine Bruno

August 27, 2014

https://www.youtube.com/watch?v=qIzmSqHrHlM

Do you wonder if your Social Security benefits are taxable? The answer, unfortunately, isn’t a simple yes or no.

Your payments will probably not be taxable if Social Security is your only income.

However, if you have other income, take 1/2 of your Social Security for the year and add it to...

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Back-to-School Tax Credits

christine Bruno

August 26, 2014

Are you, your spouse or a dependent heading off to college? If so, here’s a quick tip from the IRS: some of the costs you pay for higher education can save you money at tax time.

Here are several important facts you should know about education tax credits:

American Opportunity Tax Credit. The AOTC can be up to $2,500 annually for an eligible student. This credit applies...

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Why a Real Estate Line of Credit is a Smart Choice for Investors

christine Bruno

August 21, 2014

As a real estate investor, putting together a variety of financing tools at your disposal is a key component for executing your deals. Some methods include, but are not limited to, conventional mortgages, portfolio lenders, owner financing, hard money, private money, home equity loans, commercial loans, etc.

One popular type of real estate financing method is using a real estate line...

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Renting Your Vacation Home

christine Bruno

August 20, 2014

https://www.youtube.com/watch?v=BiZ8BMvcUnE

If you own a vacation home and rent it out, here are some things you should know:

If you rent it out for two weeks or less, you may not don’t have to report the income on your tax return. That’s right – it’s tax-free.

However, once you rent it for 15 days or more, you will...

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Six Tips for People Who Owe Taxes

christine Bruno

August 19, 2014

While most people get a refund from the IRS when they file their taxes, some do not. If you owe federal taxes, the IRS has several ways for you to pay.

Here are six tips for people who owe taxes:

1. Pay your tax bill. If you get a bill from the IRS, you’ll save money by paying it as soon as you can. If you can’t pay it in full, you should pay as much as you can....

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7 Techniques to Help You Save Money with Technology

christine Bruno

August 15, 2014

As small businesses rely more and more on technology, if your company is like my company, you find yourself spending a bigger chunk of your budget on technology.

That’s not a bad thing if you get leverage from technology. In other words, it’s a net positive if that technology helps you sell more, serve customers faster, keep your labor costs in check, be more efficient...

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Form 1023-EZ

christine Bruno

August 13, 2014

https://www.youtube.com/watch?v=-dcLKBlN8hM

It’s a lot easier these days for small charities to get started and become a 501(c)(3) tax-exempt organization.

Form 1023-EZ is only two pages and is accessible online at IRS.gov. Use the worksheet to see if you are eligible to use Form 1023-EZ to process your application.

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Use IRS Online Tools to Get Year-Round Tax Help

christine Bruno

August 12, 2014

Getting year-round tax help from the IRS is easier than ever before. The IRS website has many online tools that you can use to get the service you need.

For example, with IRS.gov you can e-file your tax return for free, easily check the status of your refund, or get many of your tax questions answered.

Here are some of the online tools that the IRS offers to make filing your...

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Get Over These Dangerous Business Planning Myths

christine Bruno

August 7, 2014

If you don’t plan your business because you don’t need a formal business plan document for a loan application or investors, you’re missing out.

Planning is a tool for steering and managing your business – something that benefits all businesses, whether they need the formal document or not.

That fear and doubt so many business owners have (are you one of...

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Military Tax Tips

christine Bruno

August 6, 2014

https://www.youtube.com/watch?v=Co6cNQqJHx0

There are dozens of tax provisions just for those serving in the military and their families.

Tax returns can usually be postponed for those on duty outside the United States on the day the tax return is due.

If you are moving due to a change in station, you can deduct reasonable moving...

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Job Hunting Expenses

christine Bruno

August 5, 2014

Many people change their job in the summer. If you look for a new job in the same line of work, you may be able to deduct some of your job hunting costs.

Here are some key tax facts you should know about if you search for a new job:

Same Occupation. Your expenses must be for a job search in your current line of work. You can’t deduct expenses for a job search in a new...

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Employee Fraud: What You Can Do About It

christine Bruno

July 31, 2014

Employees are one of your biggest assets, even though they don’t appear on your balance sheet. They help you operate your business and are the faces of your company brand. But employees can also be a big liability if they steal from you. What can you do to protect yourself?

Acknowledge the problem

Recent statistics found that companies lose 5% of their revenues each year...

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The Best Ways to Save on Vacation Travel

christine Bruno

July 30, 2014

https://www.youtube.com/watch?v=2rzNdulWn5M

Vacation, especially when you travel, is never easy on the wallet.

But there are ways to find great deals, whether you’re looking for a cruise, a rental car, or lodging.

Discover some of these tips, and then incorporate them into your own family’s vacation this summer!

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Request a Transcript or Copy of a Prior Year Tax Return

christine Bruno

July 29, 2014

You may need copies of your filed tax returns for many reasons. For example, they can help you prepare future tax returns. You’ll need them if you have to amend a prior year tax return. You often need them when you apply for a loan to buy a home or to start a business. You may need them if you apply for student aid.

If you can’t find your copies, the IRS can give you a...

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How to Encourage Customer Loyalty in Your Small Business

christine Bruno

July 24, 2014

You’ve probably heard the adage that “keeping an old customer is cheaper than converting a new one.” But just how much cheaper is it?

According to survey data presented in the new SCORE Infographic out this month, securing a new customer is six to seven times more expensive than keeping an existing one. And loyal customers are worth up to 10 times the amount of their...

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Do You Qualify for a Special Enrollment Period?

christine Bruno

July 23, 2014

https://www.youtube.com/watch?v=Eeb1WteC6Fo

Don’t forget that starting next year, when you file your tax return you must have creditable health insurance coverage or else be faced with a penalty.

Whether or not you have insurance through the Marketplace, you may think there’s nothing to do until November. That’s not necessarily...

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Tips on Travel While Giving to Charity

christine Bruno

July 22, 2014

Do you plan to donate your services to charity this summer? Will you travel as part of the service? If so, some travel expenses may help lower your taxes when you file your tax return next year.

Here are five tax tips you should know if you travel while giving your services to charity.

1. You can’t deduct the value of your services that you give to charity. But you may...

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5 Reasons Your Business Credit Scores Don’t Get You the Credit You Need

christine Bruno

July 17, 2014

When you apply for a new credit line or request a credit limit increase for your business, suppliers, creditors, and lenders want to see how your company has handled its existing credit obligations in the past. This enables them to determine if they should approve your request and to help determine what terms they should offer.

Lenders often use business credit scores to help them...

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Selling Your Home

christine Bruno

July 16, 2014

 https://www.youtube.com/watch?v=L1JpcsSz2Ww

Here are a few things you should know if you’re planning to sell your home:

1. If you make a profit, you won’t need to report it as a capital gain as long as the profit is less than $250,000 ($500,000 for couples filing a joint return), and as long as you’ve owned the property and...

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Top 9 Reasons to Visit IRS.gov This Summer

christine Bruno

July 15, 2014

If you need tax help or information, your best option is to visit the IRS.gov website. Our many online tools and services make it easy for you to do business with the IRS.

Here are nine good reasons to visit IRS.gov this summer:

1. Check on your refund. The Where’s My Refund? tool is a fast and easy way to check on your tax refund. Use the IRS2Go mobile app to access it...

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ACA or COBRA

christine Bruno

July 10, 2014

Before the Affordable Care Act (ACA), there was the Consolidated Omnibus Budget Reconciliation Act (COBRA). This allowed an employee with company sponsored health insurance to temporarily continue their coverage when leaving the company.

It applied only to companies with 20 or more employees. And you qualified if your job was terminated or you left voluntarily. It also in many cases...

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Grow Your Savings

christine Bruno

July 9, 2014

https://www.youtube.com/watch?v=S7pzidIM0Nk

If you want to save more, start by watching your spending. As this Bankrate video shows, regular small purchases for things like coffee can add up. Track how much you spend, and make any necessary changes.

Deposit money into your savings account on a regular basis. Consider...

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Worker Classification: What’s at Stake?

christine Bruno

July 8, 2014

When you need help to run your business, you have to decide whether to hire an employee or outsource the work to an independent contractor.

For the most part, independent contractors are on their own when it comes to taxes, insurance, and retirement savings. In contrast, employees are largely your responsibility for these costs.

You’re free to opt for the arrangement...

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New 1023-EZ Form Makes Applying for 501(c)(3) Tax-Exempt Status Easier

christine Bruno

July 3, 2014

WASHINGTON — The Internal Revenue Service has introduced a new, shorter application form to help small charities apply for 501(c)(3) tax-exempt status more easily.

“This is a common-sense approach that will help reduce lengthy processing delays for small tax-exempt groups and ultimately larger organizations as well,” said IRS Commissioner John Koskinen. “The...

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God Bless the U.S.A. by Lee Greenwood

Christine Bruno

July 2, 2014

https://www.youtube.com/watch?v=Q65KZIqay4E

This 4th of July, may we remember all those who proudly serve, all those who have served, and especially all those who have given everything for their county.

America is free only because of the brave! God bless you, and God bless the USA!

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Unused ITINS to Expire After Five Years

Christine Bruno

July 1, 2014

The following article was recently published by the IRS.

WASHINGTON — Individual Taxpayer Identification Numbers (ITINs) will expire if not used on a federal income tax return for five consecutive years, the Internal Revenue Service announced today. To give all interested parties time to adjust and allow the IRS to reprogram its systems, the IRS will not begin deactivating ITINs...

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SBA: Helping Underserved Entrepreneurs Succeed

christine Bruno

June 26, 2014

For more than fifty years, the SBA has helped entrepreneurs start, grow and succeed in their business ventures.

For all kinds of business owners across the country – including in traditionally underserved communities – SBA provides resources and access to capital they need to flourish.

Here’s how we help entrepreneurs and business owners who...

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The Faces and Facts of Disability

christine Bruno

June 25, 2014

https://www.youtube.com/watch?v=YzcBj4UgQJA

The uncertainty of a tragedy can be unsettling. Today there are 56 million Americans (or 1 in 5) who live with disabilities. One in 10 Americans lives with a severe disability.

With an illness or injury, the inability to work sometimes becomes the harsh reality. The Social Security Disability Insurance...

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Graduating from College? Here Are 4 Ways to Get Health Coverage.

christine Bruno

June 24, 2014

The following article was published on Healthcare.gov.

College students and recent graduates have several options for finding coverage in the Health Insurance Marketplace.

1. Special Enrollment Periods for College Grads

If your student health plan is ending, you may qualify for a Special Enrollment Period to sign up for private health insurance in the...

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Hire, Maintain, and Terminate Seasonal and Long-Term Employees with Care

christine Bruno

June 19, 2014

With the summer season right around the corner, you may be considering hiring extra hands to help out in your business, perhaps some of the first employees you’ve taken on in your venture.

Even if you’re a seasoned employer, it’s always advisable to take stock of how you’re doing as a manager and how you might be able to improve in ways that will benefit your...

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Money Management for College Students & Young Adults

Christine Bruno

June 18, 2014

For many young adults getting ready for college this summer, this may be your first time managing money on your own.

Credit cards, student loans, a need for fast cash: these can all get you into a little...

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IRS2Go Mobile App

Christine Bruno

June 17, 2014

Now Available – 2014 Version of IRS2Go!
This new version of IRS2Go has a brand new look and feel with new added features. It is available in both English and Spanish. Download IRS2Go for Android devices from the Google Play Store or IRS2Go for iOS from the App Store.

Refund Status
You can check the status of your federal income tax refund using IRS2Go. Simply enter...

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Quick Tips for Greening Your Small Business

christine Bruno

June 12, 2014

This article was recently published on SBA.gov.

Being “green” or environmentally friendly is probably not a new idea to you as a small business owner. In the last few years especially, the discussion of green business practices, services and products has become so prevalent that it’s often no longer the exception – but expected – to run a more...

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Getting Married?

christine Bruno

June 11, 2014

If you’re getting married this summer, you may have to legally change your name, or set up a new address.

You might also have to adjust your...

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Penalty Relief Pilot for Small Retirement Plans Begins in June

christine Bruno

June 10, 2014

The Internal Revenue Service has begun a one-year pilot program in June to help small businesses with retirement plans that owe penalties for not filing reporting documents. By filing current and prior year forms during this pilot program, they can avoid penalties.

The IRS is reaching out to certain small businesses that maintain retirement plans and may have been unaware that they...

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5 Simple Steps for Better Management

christine Bruno

June 6, 2014

This article was first published on the SBA blog.

Good news: Here’s a simple process, five easy steps, to improve your business. It’s easy to do. And, if you’re not doing something like this already, then this simple addition to your process offers you substantial business improvement.

Step 1: Visualize your main story

Take a step back for the...

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Preparing for Disasters

Christine Bruno

June 5, 2014

Be prepared for hurricanes or disasters by safeguarding your tax forms and financial records. Create duplicate copies and store them in a safe place.

Or...

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June 16 Deadline Nears for Taxpayers Living Abroad

Christine Bruno

June 3, 2014

Taxpayers abroad qualifying for an automatic two-month extension must file their 2013 federal income tax returns by Monday, June 16, according to the Internal Revenue Service.

The June 16 deadline applies to U.S. citizens and resident aliens living overseas, or serving in the military outside the U.S. on the regular April 15 due date. Eligible taxpayers get one additional day because...

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5 Traps in Paying Estimated Taxes

May 29, 2014

This article was published by Barbara Weltman for the SBA.

Having business income but being unable to cover anticipated taxes on the income through wage withholding means you’ll have to pay estimated taxes. You’ll have to project what you think you’ll owe for the...

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QuickBooks Quick Tips: Client Data Review

May 28, 2014

The Client Data Review makes it easy to adjust balances, review client mistakes, and fix them – all from one window. You can resolve many common client errors in this way. This tutorial gives you an overview...

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More Than 150,000 Individuals Pay Their Taxes with IRS Direct Pay

May 27, 2014

The Internal Revenue Service has announced the successful start of its new web-based system — IRS Direct Pay — on IRS.gov, which lets taxpayers pay their tax bills or make estimated tax payments directly from checking or savings accounts without any fees or pre-registration.

“IRS Direct Pay reflects our latest effort...

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10 Ways to Maximize Your Home Office for Productivity

May 22, 2014

This article was published by Anita Campbell for the SBA.

If you run one of the 14+ million home-based small businesses in the United States, congratulations. You’ve got lower overhead, a shorter commute and the opportunity to be more productive than your...

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Mortgage Debt Forgiveness

May 21, 2014

If your mortgage debt has been partly or entirely forgiven, you may be able to exclude the forgiven debt from your income. Normally, the amount of debt forgiven by a lender must be reported on your tax return as...

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Tax Information for Students Who Take a Summer Job

May 20, 2014

This article was published by the IRS.

Many students take a job in the summer after school lets out. If it’s your first job it gives you a chance to learn about the working world. That includes taxes we pay to support the place where we live, our state and our nation. Here are eight things that...

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Ten Things to Know about IRS Notices and Letters

May 15, 2014

This article was published by the IRS.

Each year, the IRS sends millions of notices and letters to taxpayers for a variety of reasons. Here are ten things to know in case one shows up in your mailbox.

  1. Don’t panic. You often only need to respond to take care of a notice.
  2. There are many reasons why the IRS may send a letter or notice. It typically...

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Caution to Tax-Exempt Organizations: Do Not Include SSNs on Form 990

May 14, 2014

Are you associated with a tax-exempt organization that needs to file a Form 990? If so, protect yourself and others by not including unnecessary and unrequested Social Security Numbers, or SSNs, on the form. Also,...

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IRS to Mark Small Business Week 2014 with Two Webinars

May 13, 2014

This article was published by the IRS.

Do you own or run a business? If so, do you know the IRS offers special tax help just for you? For example, the IRS will host two free live webinars to mark National Small Business Week, May 12 – 16. In addition, you can get many products and services for small businesses throughout the year on IRS.gov.

Here are some...

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How Much is Your Small Business Health Care Tax Credit Worth?

May 8, 2014

This article was published on Healthcare.gov on April 23, 2014.

health care tax creditWhen you buy health coverage for your employees through the Small Business Health Options Program (SHOP) Marketplace, you may qualify for a tax credit worth up to 50% of your premium contributions.

Our new...

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Flexible Spending Arrangement Carryover Provision

May 7, 2014

If you’ve avoided participating in a Flexible Spending Arrangement (FSA) because you’re worried that you’ll lose your money at the end of the year, your employer may now offer a new option that...

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Online Payment Agreement Application

May 5, 2014

The easiest way to avoid unnecessary penalties and interest is by paying your taxes in full and on time. But if you don’t have the means to do so, the IRS has an application that allows you or your authorized representative (Power of Attorney) to apply for an installment agreement, or payment plan.

As of January 1, 2014, the application fees for an installment...

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May 15 Filing Deadline for Tax-Exempt Organizations

May 1, 2014

With a key May 15 filing deadline facing many tax-exempt organizations, the Internal Revenue Service recently cautioned these groups not to include Social Security numbers (SSNs) or other unneeded personal information on their Form 990, and consider taking advantage of the speed and convenience of electronic filing.

Form 990-series information returns and notices are due on the 15th...

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The First Step to Grow Your Small Business

April 30, 2014

Getting ready to start your own business? Take some tips from the Small Business Administration, and from someone who’s started his own business in the...

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Finding A Location For Your Franchise Business

April 29, 2014

This article was published by Joel Libava for the SBA.

Let's say that you just signed your franchise contract, and you’re ready to get your new retail franchise or food franchise up and running. You’ve put hundreds of miles on your car doing some preliminary...

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Make Plans Now for Next Year’s Tax Return

April 24, 2014

This article was published by the IRS.

Most people stop thinking about taxes after they file their tax return. But there’s no better time to start tax planning than right now. And it’s never too early to set up a smart recordkeeping system. Here are six IRS tips to help you start to plan for this year’s taxes:

  1. Take action when life...

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Financial Planning 101

April 23, 2014

Wondering what to do with that tax refund you just got in the mail? While it may be tempting to splurge on something you’ve been wanting, this is a great time to pay off debt, contribute to an emergency fund,...

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Unpaid Debt Can Affect Your Refund

April 22, 2014

This article was published by the IRS.

If you owe a debt that’s past-due, it can reduce your federal tax refund. The Treasury Department’s Offset Program can use all or part of your refund to pay outstanding federal or state debt.

Here are five facts to know about tax refunds and ‘offsets.’

  1. The Bureau of Fiscal Service runs the...

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Eight Facts about Penalties for Filing and Paying Late

April 17, 2014

This article was published by the IRS.

April 15 is the tax day deadline for most people. If you’re due a refund there’s no penalty if you file a late tax return. But if you owe taxes and you fail to file and pay on time, you’ll usually owe interest and penalties on the taxes you pay late. Here are eight facts that you should know about these...

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Looking for Extra Money?

April 16, 2014

You may have heard talk this tax season about the Earned Income Tax Credit (EITC), but you may not have understood how it works. If that sounds like you, read on to learn how it can help put some extra money in the pockets of low and moderate-income Massachusetts families.

Here’s how it works: depending on your family income, you could be eligible for thousands...

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Tips on Making Estimated Tax Payments

April 15, 2014

This article was published by the IRS.

If you don’t have taxes withheld from your pay, or you don’t have enough tax withheld, then you may need to make estimated tax payments. If you’re self-employed you normally have to pay your taxes this way.

Here are six tips you should...

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Tips for U.S. Taxpayers with Foreign Income

April 10, 2014

This article was published by the IRS.

Did you live or work abroad or receive income from foreign sources in 2013? If you are a U.S. citizen or resident, you must report income from all sources within and outside of the U.S. The rules for filing income tax returns are generally the same whether you’re living in the U.S. or abroad. Here are six tips from the IRS that...

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Need More Time To File Your Tax Return?

April 9, 2014

April 15th is just around the corner. Have you filed your tax return? If you feel like you need more time, don’t worry and don’t panic. You can ask for an extension of time by filing form 4868.

Keep in mind that this is an extension of time to file your tax return, not an extension to pay. This will give you six more months (until October 15th) to get your...

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New Law Offers Special Tax Option for Philippines Relief Donations; Cash Contributions Until April 14 Can Be Claimed On 2013 Returns

April 8, 2014

This article was published by the IRS.

Taxpayers who make cash contributions on or before April 14, 2014, for Philippines typhoon relief can get an immediate tax benefit by choosing to claim them on their 2013 returns, according to the Internal Revenue Service.

Under special legislation enacted last week, taxpayers can choose to treat cash contributions made on or...

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IRS Has $760 Million for People Who Have Not Filed a 2010 Income Tax Return

April 3, 2014

This article was published by the IRS.

Refunds totaling almost $760 million may be waiting for an estimated 918,600 taxpayers who did not file a federal income tax return for 2010, the Internal Revenue Service announced recently. However, to collect the money, a return for 2010 must be filed with the IRS no later than Tuesday, April 15, 2014.

“The window is...

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When Will I Get My Refund?

April 2, 2014

Now that you’ve finished filing your tax return you’re probably wondering: “When will I get my refund?” More than nine out of ten refunds are issued in less than 21 days.

In the...

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How to Write-off Business Expenses You Pay For

April 1, 2014

This article was published by Barbara Weltman for the SBA.

How to Write-off Business Expenses You Pay For - Bruno P.C.As an owner, your company may not pay for every expense you incur on its behalf. Your out-of-pocket costs may be legitimate business expenses that you’ll...

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Ten Facts about Capital Gains and Losses

March 27, 2014

This article was published by the IRS.

When you sell a “capital asset,” the sale usually results in a capital gain or loss. A ‘capital asset’ includes most property you own and use for personal or investment purposes. Here are 10 facts from the IRS on capital gains and losses:

  1. Capital assets include property such as your home or car....

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QuickBooks QuickTips: Adding Products or Services

March 26, 2014

In QuickBooks, you can add the products and services you sell by either typing them in manually or, if you have them in Microsoft Excel, you can copy and paste them. QuickBooks categorizes your products and...

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Tax Rules for Children with Investment Income

March 25, 2014

This article was published by the IRS.

You normally must pay income tax on your investment income. That is also true for a child who must file a federal tax return. If a child can’t file his or her own return, their parent or guardian is normally responsible for filing their tax return.

Special tax rules apply to certain children with investment income. Those...

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Tips for Self-Employed Taxpayers

March 20, 2014

This article was published by the IRS.

If you are an independent contractor or run your own business, there are a few basic things to know when it comes to your federal tax return. Here are six tips you should know about income from self-employment:

  • Self-employment income can include income you received for part-time work. This is in addition to income from...

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IRS Online Tax Calendar

March 19, 2014

If you’re self-employed or own a small business, you may be required to make regular tax deposits, and keeping track of them can be complicated. The IRS tax calendar which links from IRS.gov can really...

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The “Dirty Dozen” Tax Scams for 2014, Part 3

March 18, 2014

This article was published by the IRS.

The Internal Revenue Service recently issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to misuse of trusts. Here’s the final installment of this three-part...

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The “Dirty Dozen” Tax Scams for 2014, Part 2

March 13, 2014

This article was published by the IRS.

The Internal Revenue Service recently issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. Here’s part two of the article:

Return Preparer...

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QuickBooks Quick Tip: Building Blocks of Sales

March 12, 2014

This video gives an overview of how to record sales in QuickBooks 2013. To record your sales, you must set up some basic information. This information is important whether you enter invoices, sales receipts, or...

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The “Dirty Dozen” Tax Scams for 2014, Part 1

March 11, 2014

This article was published by the IRS.

The Internal Revenue Service recently issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud.

The Dirty Dozen listing, compiled by the IRS each year, lists a...

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Ten Things to Know about the Taxpayer Advocate Service

March 6, 2014

This article was published by the IRS.

1. The Taxpayer Advocate Service (TAS) is an independent organization within the IRS and is your voice at the IRS.

2. We help taxpayers whose problems are causing financial difficulty. This includes businesses as well as individuals.

3. You may be eligible for our help if you’ve tried to resolve your tax problem...

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QuickBooks Quick Tips: Statement Writer

March 5, 2014

The QuickBooks Statement Writer helps accountants create professional-looking, custom financial statements quickly and easily. It’s included in QuickBooks Premier Accountant, as well as all Enterprise...

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Seven Facts about Dependents and Exemptions

March 4, 2014

This article was published by the IRS.

There are a few tax rules that affect everyone who files a federal income tax return. This includes the rules for dependents and exemptions. The IRS has seven facts on these rules to help you file your taxes.

  1. Exemptions cut income. There are two types of exemptions: personal exemptions and exemptions for...

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The Child Tax Credit May Cut Your Tax

February 27, 2014

This article was published by the IRS.

If you have a child under age 17, the Child Tax Credit may save you money at tax time. Here are some key facts the IRS wants you to know about the credit.

Amount. The non-refundable Child Tax Credit may help cut your federal income tax by up to $1,000 for each qualifying child you claim on your tax...

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Medical and Dental Expenses

February 26, 2014

If you have medical or dental expenses, you may be able to deduct some of them on your tax return. Keep in mind you will need to itemize your deductions in order to do this.

There are two things you need to...

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5 Payroll Tax Mistakes to Avoid

February 25, 2014

This article was published by Barbara Weltman for the SBA.

If you have at least one employee, you’re responsible for payroll taxes. These include withholding federal (and, where appropriate, state) income taxes and FICA tax from employees’ wages as well as paying the...

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Important Reminders about Tip Income

February 20, 2014

This article was published by the IRS.

If you get tips on the job from customers, the IRS has a few important reminders:

  • Tips are taxable. You must pay federal income tax on any tips you receive. The value of non-cash tips, such as tickets, passes or other items of value are also subject to income tax.
  • Include all tips on your...

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Taxable and Nontaxable Income

February 19, 2014

As you know, most income is taxable. But did you know that some income is only partially taxable, and that some income is not taxed at all?

This video can help you distinguish these important differences as...

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IRS Warns of Heavy Call Volume, Offers Tips for Faster Answers

February 18, 2014

This article was published by the IRS.

The IRS reminded taxpayers the Presidents Day holiday period typically marks one of the busiest weeks of the tax filing season for its phone lines. There are other alternatives to help taxpayers find answers to commonly asked tax questions.

The Internal Revenue Service has several easy-to-use, online tools on

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Eight Tax Savers for Parents

February 13, 2014

This article was published by the IRS.

Your children may help you qualify for valuable tax benefits. Here are eight tax benefits parents should look out for when filing their federal tax returns this year.

1. Dependents. In most cases, you can claim your child as a dependent. This applies even if your child was born anytime in 2013. For more details,...

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W-2 Missing?

February 12, 2014

What if you want to file your tax return, but you still have not received your W-2? Employers should send this to you by January 31st. Give it two weeks to arrive in the mail.

But if you don’t get it...

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Report Name Change before You File Taxes

February 11, 2014

This article was published by the IRS.

Did you change your name last year? Did your dependent have a name change? If the answer to either question is yes, be sure to notify the Social Security Administration before you file your tax return with the IRS.

This is important because the name on your tax return must match SSA records. If they don’t, you’re...

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Top Ten Tips to Help You Choose a Tax Preparer

February 6, 2014

This article was published by the IRS.

Many people hire a professional when it’s time to file their tax return. If you pay someone to prepare your federal income tax return, the IRS urges you to choose that person wisely. Even if you don’t prepare your own return, you’re still legally responsible for what is on it.

Here are ten tips to keep in mind...

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Moving Expenses

February 5, 2014

Have you recently moved because of a change in your job location?

If so, you may be able to deduct certain expenses from your income and lower your tax bill. These include the cost of transporting your...

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Watch Out for Tax Scams as 2014 Filing Season Opens

February 4, 2014

This article was published by the IRS.

As the 2014 tax season began on Jan. 31, the Internal Revenue Service urged taxpayers to be aware that tax-related scams using the IRS name proliferate during this time of year.

Tax scams can take many forms, with perpetrators posing as the IRS in everything from e-mail refund schemes to phone impersonators. The IRS warned...

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Who Should File a 2013 Tax Return?

Christine Bruno

January 30, 2014

This article was published by the IRS.

Do you need to file a federal tax return this year? Perhaps. The amount of your income, filing status, age and other factors determine if you must file.

Even if you don’t have to file a tax return, there are times when you should. Here are five good reasons why you should file a return, even if you’re not required to...

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QuickBooks Quick Tips: Payroll Overview in QuickBooks 2013

Christine Bruno

January 29, 2014

This video will give you a general idea of how payroll works in QuickBooks. You can do payroll and file and pay the taxes yourself, or QuickBooks can do part or all of it for you....

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Fast Track Settlement Program Now Available Nationwide; Time-Saving Option Helps Small Businesses Under Audit

Christine Bruno

January 28, 2014

This article was published by the IRS.

The Internal Revenue Service recently announced the nationwide rollout of a streamlined program designed to enable small businesses under audit to more quickly settle their differences with the IRS.

The Fast Track Settlement (FTS) program is designed to help small...

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Social Security Announces New Compassionate Allowances Conditions

Christine Bruno

January 23, 2014

This article was published by the Social Security Administration.

Carolyn W. Colvin, Acting Commissioner of Social Security, recently announced 25 new Compassionate Allowances conditions, including a dozen cancers, bringing the total number of conditions to 225. The Compassionate Allowances program expedites disability decisions for...

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QuickBooks Quick Tip: Reports in QuickBooks

Christine Bruno

January 22, 2014

If you use QuickBooks, one of the main reasons is probably to get useful information about your business. Reports give you quick access to this information, to show you how your...

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2014 Standard Mileage Rates for Business, Medical and Moving Announced

Christine Bruno

January 21, 2014

This article was published by the IRS.

The Internal Revenue Service recently issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will...

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What to Know About Small-Business Licenses and Permits

Christine Bruno

January 16, 2014

This article was published by K. Murray for the SBA.

What to Know About Small-Business Licenses and Permits - Bruno P.C.So, you’re starting a business – congratulations! You already know that there’s a lot to take care of, from

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IRS Identity Theft FAQ: Going After The Bad Guys

Christine Bruno

January 15, 2014

Here’s an update on what the IRS is doing to go after the bad guys who steal people’s identity. One of their ongoing efforts is our Law Enforcement Assistance...

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4 Marketing Resolutions to Make This Year

Christine Bruno

January 14, 2014

This article was published by Rieva Lesonsky for the SBA.

If there’s one area of operations most small businesses can stand to improve, it’s marketing. As a small business expert, I get more questions about marketing than any...

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New Year, New Hires – Growing Your Business With New Employees

Christine Bruno

January 9, 2014

The following article was recently published by the SBA.

If the new year could mean new hires for your small business, there’s a lot to think about.

Here’s some insight to consider from experts interviewed for SBA’s Learning Center Series, “Strategies for Growth.” They’ve shared some lessons they’ve learned that can help you develop a...

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IRS Identity Theft FAQ: First Steps for Victims

Christine Bruno

January 8, 2014

Do you think you might be the victim of identity theft? Have you received a letter from the IRS suggesting someone has stolen your identity?

If you have received a letter from...

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Building a Business Plan

Christine Bruno

January 7, 2014

The SBA offers the following tool: 

Are you interested in starting a business? Creating a business plan is...

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7 Inspiring Home Business Ideas for Stay-at-Home Moms (or Dads)

Christine Bruno

January 3, 2014

This article was published by Caron Beesley for the SBA.

Are you a stay-at-home mom (or dad)? Hoping to kick start an entrepreneurial dream or simply looking to bring in some extra income?

Starting a home-based business is a great way to do...

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Receiving and Depositing Payments in QuickBooks 2013

Christine Bruno

January 2, 2014

When a customer pays you for an invoice, receiving and depositing that money with QuickBooks 2013 is quite easy. Remember, invoicing requires three steps: Enter the invoice, then...

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23 Money Tips for Any Occasion

Christine Bruno

March 16, 2008

Looking for ways to save more without cutting back too much on your quality of life? Try these random yet interesting

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23 Money Tips for Any Occasion

Christine Bruno

March 16, 2008

Looking for ways to save more money without changing your quality of living? Try these random yet interesting

Read More...

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