Lower My Tax Now Blog

Use the 80-20 rule to increase your business profits

How well do you know your customers? Which ones are the most profitable? Which ones take most of your time? It’s worth taking the time to find out. If your business is like most, the 80-20 rule applies. That is, 80% of your profits come from 20% of your…

There are tax breaks when you do charitable work

If you do volunteer work for a charitable organization and have not kept track of your out-of-pocket expenses, you might be passing up an excellent opportunity to lower your tax bill. To qualify, your unreimbursed expenses must relate directly to the charity, and you must itemize your deductions on…

IRS issues another warning

Another strong warning from the IRS is alerting taxpayers to phone scams that have already resulted in 90,000 complaints and the theft of millions of dollars. Here’s how the typical scam works: The caller claims to be from the IRS and, using hostile and abusive language, demands immediate payment…

September 15th is the deadline…

September 15th is fast approaching and it’s the filing deadline for the various returns and form below:

2013 tax returns for calendar-year corporations (C & S-corporations) that had extensions of the March 15th deadline.

2013 partnership tax returns (multi-partnership & LLC) that had extensions of the April 15th filing deadline.

September 15…