Khan, Arndt & Associates

New year, new challenges, and the potential for new successes. Here are five ways you can improve your financial management in 2021. https://www.khanarndt.com/content_library.htm?id=9WA3NYXS&cat=rjnm42d4

If your business operates in two or more taxing jurisdictions, the Supreme Court’s decision in South Dakota v. Wayfair applies to you. https://www.khanarndt.com/content_library.htm?id=0FYR5WA3&cat=xshau4dd

Understanding Sales Tax in the Post-Wayfair World If your business operates in two or more taxing jurisdictions, the Supreme Court’s decision in South Dakota v. Wayfair applies to you.

The net investment tax hits high earners with significant investment income. Calculating it can be complex, and the rules are subtle. Learn how it works and whether it will take a bite out of your finances. https://www.khanarndt.com/content_library.htm?id=EXP77QKO&cat=qiyvyo05

How the Net Investment Tax Works The net investment tax hits high earners with significant investment income. Calculating it can be complex, and the rules are subtle. Learn how it works and whether it will take a bite out of your finances.

Taking on your company’s payroll with QuickBooks Online? Knowing what you’re up against ahead of time will make your setup tasks much easier. https://www.khanarndt.com/content_library.htm?id=OOW8FBI6&cat=rjnm42d4

If you are seeking a steady income stream from your portfolio while trying to minimize the tax impact of that income, you may want to look into municipal bonds. Municipal bonds traditionally have had a relatively low default rate and may offer diversification benefits. https://www.khanarndt.com/content_library.htm?id=TAXS74KD&cat=qiyvyo05

Investing for Tax-Favored Income If you are seeking a steady income stream from your portfolio while trying to minimize the tax impact of that income, you may want to look into municipal bonds. Municipal bonds traditionally have had a relatively low default rate and may offer diversification benefits.

If you purchase several items and services away from the office, QuickBooks Online can help you record them while you’re out and about. https://www.khanarndt.com/content_library.htm?id=2LOOODXT&cat=rjnm42d4

Every interaction with your customers can enhance your image. Here’s how QuickBooks Online contributes to that. https://www.khanarndt.com/content_library.htm?id=L3UMA2ZF&cat=rjnm42d4

Increasing your profits requires selling more and/or spending less. While building up your sales may require an extended effort, business costs are often very ripe for a quick trimming. Here are some possibilities. https://www.khanarndt.com/content_library.htm?id=wv3v8o6l&cat=alzrlirg

Are Opportunity Zones an Opportunity for You?
Created by the TCJA in 2017, opportunity zones are designed to help economically distressed areas by encouraging investments. Here's an introduction to the complex details of how these zones work.
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How to Create Product Records in QuickBooks Online: QuickBooks Online’s recording and tracking tools meet all of these requirements by allowing you to create records for services. Here’s how it works. https://pos.li/2gw4zv

As long as there have been taxes, shady promoters have tried to sell taxpayers on schemes to get out of paying their fair share. Learn about abusive tax shelters, and how to recognize and avoid them. https://www.khanarndt.com/content_library.htm?id=AXVNCGWV&cat=xshau4dd

The Ongoing Problem: Abusive Tax Shelters As long as there have been taxes, shady promoters have tried to sell taxpayers on schemes to get out of paying their fair share. Learn about abusive tax shelters, and how to recognize and avoid them.

Working from home can potentially deliver some attractive tax advantages. If you qualify for the home office deduction, you can deduct all direct expenses and part of your indirect expenses involved in working from home. https://www.khanarndt.com/content_library.htm?id=V9UFS0QW&cat=qiyvyo05

Home Office Tax Tips Working from home can potentially deliver some attractive tax advantages. If you qualify for the home office deduction, you can deduct all direct expenses and part of your indirect expenses involved in working from home. Note, however, that qualifying for such deductions became harder under the Tax....

QuickBooks allows you to create multiple types of sales forms for different situations. Here’s a look at what they are and when to use them. https://www.khanarndt.com/content_library.htm?id=B7XIULXN&cat=rjnm42d4

Sales Receipts, Invoices, and Statements in QuickBooks QuickBooks allows you to create multiple types of sales forms for different situations. Here’s a look at what they are and when to use them.

Keeping your supplies coming in may be difficult right now. Be sure you know your vendors and track their records carefully. https://www.khanarndt.com/content_library.htm?id=7O6E8N51&cat=rjnm42d4

How to Create and Use Vendor Records in QuickBooks Online Keeping your supplies coming in may be difficult right now. Be sure you know your vendors and track their records carefully.

S corporation shareholders have an added reason to worry about their company's annual performance: It has a direct impact on their own income taxes. https://www.khanarndt.com/content_library.htm?id=4M80Z5FD&cat=xshau4dd

What's Taxable to an S Corporation Shareholder? S corporation shareholders have an added reason to worry about their company's annual performance: It has a direct impact on their own income taxes.

A business plan is critically important when it comes to obtaining financing. Here are the key sections that a business plan should include.
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Certain kinds of business payments trigger the need for what are called "information returns." Just what are they and what are your responsibilities? Check out the list of the kinds of transactions you have to report. https://www.khanarndt.com/content_library.htm?id=12D891SI&cat=xshau4dd

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All taxpayers are no doubt hoping for a refund this year. Unfortunately, there are a lot of myths about when and how you'll get your refund. https://www.khanarndt.com/content_library.htm?id=HDWN94PE&cat=xshau4dd

What To Know About Getting a Tax Refund All taxpayers are no doubt hoping for a refund this year. Unfortunately, there are a lot of myths about when and how you'll get your refund.

Most people are familiar with identity theft. They understand that they have to take various measures to protect their financial information from being accessed and exploited by criminals. Unfortunately, many people are less familiar with tax return identity theft. Numerous taxpayers have found that criminals have pocketed their tax refunds after using false identities. How can you reduce the chances that you could become a victim of tax return identity theft? The following tips should help. https://www.khanarndt.com/content_library.htm?id=O4XO6V6H&cat=qiyvyo05

Protect Your Tax Return From Criminals Most people are familiar with identity theft. They understand that they have to take various measures to protect their financial information from being accessed and exploited by criminals. Unfortunately, many people are less familiar with tax return identity theft. Numerous taxpayers have found that...

The IRS is gradually rolling out a new identity protection program that prevents anyone who has stolen your Social Security number from using it to file a fraudulent return. Learn how it works and whether you're eligible. https://www.khanarndt.com/content_library.htm?id=4WLMB4H1&cat=qiyvyo05

IRS Offers Identity Protection PIN The IRS is gradually rolling out a new identity protection program that prevents anyone who has stolen your Social Security number from using it to file a fraudulent return. Learn how it works and whether you're eligible.

Any business with employees must withhold money from its employees' paychecks for income and employment taxes, including Social Security and Medicare taxes (known as Federal Insurance Contributions Act taxes, or F**A), and forward that money to the government. A business that knowingly or unknowingly fails to remit these withheld taxes in a timely manner will find itself in trouble with the IRS. https://www.khanarndt.com/content_library.htm?id=R1WYBF7P&cat=xshau4dd

Payroll Taxes: Who's Responsible? Any business with employees must withhold money from its employees' paychecks for income and employment taxes, including Social Security and Medicare taxes (known as Federal Insurance Contributions Act taxes, or F**A), and forward that money to the government. A business that knowingly or unknowingl...

Visit our NEW CARES Act Coronavirus Aid Relief website page – We are here to help you successfully navigate the unprecedented economic challenges you face, and get your business back to business as quickly as possible. Click here to learn more.
https://www.khanarndt.com/coronavirus-aid-relief.htm

The IRS is taking a special look at the tax situation surrounding executive compensation. This may sound simple, but there are a lot of complexities you need to know about. Click through for an introduction to the key issues.
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The IRS Looks Into Executive Compliance The IRS is taking a special look at the tax situation surrounding executive compensation. This may sound simple, but there are a lot of complexities you need to know about. Click through for an introduction to the key issues.

Do you have a client or customer who won't pay? Even when all attempts to collect a bad debt have failed, the IRS may give you a break at filing time. Click through to see how to take that bad debt off your taxes.
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Business Tax and Bad Debt Do you have a client or customer who won't pay? Even when all attempts to collect a bad debt have failed, the IRS may give you a break at filing time. Click through to see how to take that bad debt off your taxes.

Do you drive your car for business purposes? The costs of operating and maintaining your vehicle are potentially deductible. Here are some guidelines.
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Business Auto Deductions: Two Ways to Calculate Do you drive your car for business purposes? The costs of operating and maintaining your vehicle are potentially deductible. Here are some guidelines.