Tax Preparation and Accounting in Brookfield Wi | Sbas Group

Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government's General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.
Whether we like it or not, today's tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there's no substitute for the assistance of an experienced tax professional.
Here's what you get...

• Your tax return will be checked and rechecked by our computer software identifying potential problems the IRS may look at more closely and reviewing the math to limit IRS contacts.
   
• Your tax return can be filed electronically so you will get a refund back quicker.
   
• Our staff will show you how to adjust your payroll withholding to get more money back each week. Why give the IRS an interest free loan for up to 16 months.
   
• We will show you potential deductions to limit your tax liability for next year. In addition, we will give you a sheet of commonly overlooked deductions to limit the following year's tax liability.

Books a Mess? No Problem!
If you own a small business and haven't kept up your bookkeeping, don't worry. We can help you. We'll prepare your bookkeeping for the year, prepare a full Schedule C, as well as your personal income tax return. Then we'll help you set up an easy system that allows you to keep your books in tip-top shape next year.

We at Small Business Accounting Solutions LLC, work closely with small business owners in Milwaukee, Waukesha, Racine and Washington counties. As a "one-stop-shop", we provide our clients with complete Accounting services, Business and Individual Income Tax preparation, Payroll services, Quickbooks training and more! Small Business Accounting Solutions, LLC 1025 S Moorland Road Suite 500 Brookfield, WI 53005 Phone: (262)547-6000 http://www.sbasgroup.com

IRS Tax Forms and Publications | Brookfield Accounting and Tax Preparation

The publications listed below are located on the IRS Web site and require Adobe Acrobat Reader to view. Visit the Adobe Web Site to install the latest version of Acrobat Reader.Click a publication to view it online.

Publication 1	Your Rights As a Taxpayer
Publication 3	Armed Forces' Tax Guide
Publication 15	Circular E, Employer's Tax Guide
Publication 15A	Employer's Supplemental Tax Guide
Publication 17	Your Federal Income Tax
Publication 51	Circular A, Agricultural Employer's Tax Guide
Publication 54	Tax Guide for U.S. Citizens and Resident Aliens Abroad
Publication 80	Circular SS - Federal Tax Guide for Employers in the U.S. Virgin Islands, Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands
Publication 225	Farmer's Tax Guide
Publication 334	Tax Guide for Small Business
Publication 463	Travel, Entertainment, Gift, and Car Expenses
Publication 501	Exemptions, Standard Deduction, and Filing Information
Publication 502	Medical and Dental Expenses
Publication 503	Child and Dependent Care Expenses
Publication 504	Divorced or Separated Individuals
Publication 505	Tax Withholding and Estimated Tax
Publication 509	Tax Calendars
Publication 510	Excise Taxes (Including Fuel Tax Credits and Refunds)
Publication 513	Tax Information for Visitors to the U.S.
Publication 514	Foreign Tax Credit for Individuals
Publication 515	Withholding of Tax on Nonresident Aliens and Foreign Corporations
Publication 516	U.S. Government Civilian Employees Stationed Abroad
Publication 517	Social Security and Other Information for Members of the Clergy & Religious Workers
Publication 519	U.S. Tax Guide for Aliens
Publication 521	Moving Expenses
Publication 523	Selling Your Home
Publication 524	Credit for the Elderly or the Disabled
Publication 525	Taxable and Nontaxable Income
Publication 526	Charitable Contributions
Publication 527	Residential Rental Property (Including Rental of Vacation Homes)
Publication 529	Miscellaneous Deductions
Publication 530	Tax Information for First-Time Homeowners
Publication 531	Reporting Tip Income
Publication 533	Self-Employment Tax
Publication 535	Business Expenses
Publication 536	Net Operating Losses
Publication 537	Installment Sales
Publication 538	Accounting Periods and Methods
Publication 541	Partnerships
Publication 542	Corporations
Publication 544	Sales and other Dispositions of Assets
Publication 547	Casualties, Disasters, and Thefts
Publication 550	Investment Income and Expenses (Including Capital Gains and Losses and Mutual fund Distributions)
Publication 552	Recordkeeping for Individuals
Publication 554	Older Americans' Tax Guide
Publication 555	Community Property
Publication 556	Examination of Returns, Appeal Rights, and Claims for Refund
Publication 557	Tax-Exempt Status for Your Organization
Publication 559	Survivors, Executors and Administrators
Publication 560	Retirement Plans for Small Business
Publication 570	Tax Guide for Individuals With Income from U.S. Possessions
Publication 571	Tax-Sheltered Annuity Programs for Employees of Public Schools and Certain Tax-Exempt Organizations
Publication 575	Pension and Annuity Income
Publication 583	Starting a Business and Keeping Records
Publication 587	Business Use of Your Home (Including Use by Day-Care Providers)
Publication 590	Individual Retirement Arrangements (IRAs)(Including SEP-IRAs and SIMPLE IRAs)
Publication 593	Tax Highlights for U.S. Citizens and Residents Going Abroad
Publication 595	Tax Highlights for Commercial Fishermen
Publication 596	Earned Income Credit
Publication 598	Tax on Unrelated Business Income of Exempt Organizations
Publication 721	Tax Guide to U.S. Civil Service Retirement Benefits
Publication 901	U.S. Tax Treaties
Publication 907	Tax Highlights for Persons With Disabilities
Form 911	Request for Taxpayer Advocate Service Assistance
Publication 915	Social Security and Equivalent Railroad Retirement Benefits
Publication 919	How Do I Adjust My Tax Withholding?
Publication 925	Passive Activity and At-Risk Rules
Publication 926	Household Employers Tax Guide
Publication 929	Tax Rules for Children and Dependents
Publication 936	Home Mortgage Interest Deduction
Publication 939	General Rule for Pensions and Annuities
Publication 946	How to Depreciate Property
Publication 950	Introduction to Estate and Gift Taxes
Publication 954	Tax Incentives for Empowerment Zones and Other Distressed Communities
Publication 957	Reporting Back Pay and Special Wage Payments to the Social Security Administration
Publication 967	The IRS Will Figure Your Tax
Form 8839	Qualified Adoption Expenses
Publication 969	Medical Savings Accounts
Publication 970	Tax Benefits for Higher Education
Publication 1212	Guide to Original Issue Discount Instruments
Publication 1542	Per Diem Rates
Publication 1544	Reporting Cash Payments of Over $10,000

Small Business Accounting Solutions, LLC
1025 S Moorland Road Suite 500
Brookfield, WI 53005
Phone: (262)547-6000
info@sbasgroup.com
Serving Waukesha, Milwaukee and Brookfield Wi

We at Small Business Accounting Solutions LLC, work closely with small business owners in Milwaukee, Waukesha, Racine and Washington counties. As a "one-stop-shop", we provide our clients with complete Accounting services, Business and Individual Income Tax preparation, Payroll services, Quickbooks training and more! Small Business Accounting Solutions, LLC 1025 S Moorland Road Suite 500 Brookfield, WI 53005 Phone: (262)547-6000 http://www.sbasgroup.com

Individual Tax Changes for 2013 | Brookfield Accountant SBASGroup

 Individual Tax Changes for 2013

From personal deductions to tax credits and educational expenses, many of the tax changes affecting individuals were related to the signing of the American Taxpayer Relief Act (ATRA), which modified, made permanent, or extended a number of tax provisions that expired in 2010 and 2011. With that in mind, here's what individuals and families need to know about tax changes that took effect in 2013.
Personal Exemptions
The personal and dependent exemption for tax year 2013 is $3,900.
Standard Deductions
In 2013 the standard deduction for married couples filing a joint return is $12,200. For singles and married individuals filing separately, it's $6,100, and for heads of household the deduction is $8,950.
The additional standard deduction for blind people and senior citizens increases in 2013 to $1,200 for married individuals and $1,500 for singles and heads of household.
Income Tax Rates
Beginning in tax year 2013, a new tax rate of 39.6 percent has been added for individuals whose income exceeds $400,000 ($450,000 for married taxpayers filing a joint return). The other marginal rates--10, 15, 25, 28, 33 and 35 percent--remain the same as in prior years.
Due to inflation, tax-bracket thresholds increased for every filing status. For example, the taxable-income threshold separating the 15-percent bracket from the 25-percent bracket is $72,500 for a married couple filing a joint return.
Estate and Gift Taxes
The recent overhaul of estate and gift taxes means that there is an exemption of $5.25 million per individual for estate, gift and generation-skipping taxes, with a top rate of 40%. The annual exclusion for gifts is $14,000.

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We at Small Business Accounting Solutions LLC, work closely with small business owners in Milwaukee, Waukesha, Racine and Washington counties. As a "one-stop-shop",  Our Accountants & CPAs provide accounting, tax preparation, bookkeeping and payroll services to small business owners in Southeast Wisconsin including Milwaukee, Greenfield, New Berlin, Muskego, West Allis & Waukesha.!

 Small Business Accounting Solutions, LLC 1025 S Moorland Road Suite 500 Brookfield, WI 53005 Phone: (262)547-6000 http://www.sbasgroup.com

Payroll Tax Problems and Help | Payroll Milwaukee and Waukesha SBAS

 

The IRS views failing to pay payroll taxes as the cardinal sin of tax delinquency because a large portion of the payroll taxes are your employees' withholding's.   Call us for help at Small Business Accounting Solutions of Brookfield and Milwaukee. 

Not paying your company's payroll taxes is tantamount to stealing your employees' money in the eyes of the IRS.

As a result, penalties for failing to pay your payroll taxes and filing your payroll tax returns on time are much more severe than other types of penalties. They can drastically multiply the amount you owe in a very short time.

If you are behind on paying payroll taxes for your company, WATCH OUT!!! The IRS is extremely aggressive pursuing collection of this type of tax. They would rather seize your business assets, close you down, sell your assets at auction, and put you out of business than allow you to continue amassing additional payroll tax liabilities.
If you are behind on your payroll taxes, DO NOT meet with the IRS on your own. How you answer their initial questions can determine whether you stay in business or not. It is critical you hire a professional representative who knows how the IRS operates.

We at Small Business Accounting Solutions LLC, work closely with small business owners in Milwaukee, Waukesha, Racine and Washington counties. As a "one-stop-shop", we provide our clients with complete Accounting services, Business and Individual Income Tax preparation, Payroll services, Quickbooks training and more! Small Business Accounting Solutions, LLC 1025 S Moorland Road Suite 500 Brookfield, WI 53005 Phone: (262)547-6000http://www.sbasgroup.com