The Foreign Bank Account Report (FBAR) is an important form that U.S. taxpayers with foreign financial assets must file annually. It is important to understand your FBAR filing requirements, as failure to file an FBAR can result in substantial penalties. Learn more about it in this podcast.

As a business owner or independent contractor, you are required to report any non-salary income you earn to the Internal Revenue Service (IRS) using a 1099 form. This form is used to report a variety of different types of income, including rent, commissions, and freelance work. To avoid penalties and fines, it is important to make sure that your 1099 form is accurate and free of mistakes. In this article, we will explore ten common 1099 form mistakes that you should avoid.

Filing IRS Form 4868: Application for Automatic Extension of Time To File U.S. Individual Income Tax Return is easy. It gives taxpayers an extra six months to file their tax returns without incurring any late fees or other penalties. In this article, we will provide a step-by-step guide on how to file Form 4868 so that you can get the much-needed extension from the IRS.

FICA Tax, or Federal Insurance Contributions Act Tax, is a payroll tax that is imposed on both employees and employers to fund Social Security and Medicare programs in the United States. Understanding the key aspects of FICA tax, including how to calculate it, file it, and the exceptions to it is crucial for both employees and employers.

Form 1065 is the tax return form that partnerships are required to file annually with the Internal Revenue Service (IRS). The purpose of this form is to report the income, expenses, and deductions of the partnership, which will ultimately be used to determine the tax liability of each partner. Here is a step-by-step guide on how to fill out IRS Form 1065.

If you’re self-employed or have a small business, you will need to file a Schedule C form 1040 along with your personal income tax return. This form is used to report your business income and expenses. In this article, we will walk you through the process of filing a Schedule C form 1040, including what information is needed and how to fill out the form correctly.

Setting up classes in QuickBooks can help you track and analyze financial data for specific departments, locations, or projects within your business. With this article learn to set up classes in QuickBooks Online and Desktop.

QuickBooks' most useful feature is the ability to set up bank feeds, which allows you to download transactions from your bank account into QuickBooks automatically. This can save you time and effort, as you don’t have to manually enter each transaction. This article will discuss how to set up bank feeds in QuickBooks Desktop for Windows.

Whether you’re using QuickBooks Online or Desktop, deleting a deposit can be done with just a few clicks of your mouse. In this article, we’ll explain how to delete deposits in QuickBooks Online & Desktop and provide some helpful tips for avoiding common mistakes.

Undeposited funds are the money received by a business that has not yet been deposited into the company’s bank account. This can happen when a customer pays in cash or writes a check that is not immediately deposited. With this learn how to clear undeposited funds in QuickBooks.