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Wednesday, December 31, 2014

Calculate Your 2015 Refund

Estimate your refund amount
or balance due
Make sure you get every dollar you’re entitled to. This 2015 Tax Refund Calculator should help you prepare your taxes for next year. We all work hard and look forward to our refund each year, and would like to find out if in fact we are going to owe tax so we can plan accordingly.

REFUNDSCHEDULE.COM: 2015 Tax Refund Calculator

  • The Tax Estimator calculates your refund or how much you’ll owe in taxes.
  • The W-4 Calculator helps you understand your refund amount or balance due from your current W-4.
  • Estimate how the Affordable Care Act may affect you with our Health Care calculator.


Wednesday, December 17, 2014

Time to Hire a Professional Accountant for Your Small Business?

It's hard to find the time to look
for an accountant who is suitable.
Here's how to get the right CPA
for your growing company.
It's hard to find a good accountant—so hard, in fact, that it has become something of a running joke in the small business world.

Q: What's the definition of an accountant?
A: Someone who solves a problem you didn't know you had in a way you don't understand.

Okay, so maybe that's not entirely fair! But as with most humor there's a grain of truth to the joke. Most small businesses choose an accountant -- either hiring a "numbers person" on staff or hiring accounting services on a contract basis -- when a business' financial challenges have become too great to handle without expert help. Maybe you want to better the financial function of your business. Or perhaps your accounting software isn't providing the type of data you need to grow your business. Having trouble switching from cash to accrual accounting? Are your financial statements inaccurate or incomplete? These are all good reasons to look for a Certified Public Accountant (CPA).

When is it time? It all depends on the size of the company. If you're a small business owner and find yourself sitting in front of QuickBooks wondering where to begin, that's a good indication that it's time to find someone knowledgeable.

Inside or Outside Accountant? Before you can find the right accountant, you need to determine if you need an accounting firm or an inside accountant.

  • Hiring an outside accountant or accounting firm on a consulting basis is usually a good first step for a growing business. The outside firm can often cost less than the salary and benefits of a full-time employee and, at the same time, you may be getting a higher level of advice from a CPA or a tax accountant, the latter of whom usually is a licensed CPA and a lawyer specializing in tax law.
  • When the business grows in revenue and the transactions become more complicated, it is time to consider hiring a full- or part-time inside accountant. Since the outside accountant's fee grows with the size of the business, the owner may see some cost savings by bringing some of the work in-house.

READ MORE >> How to Choose an Accountant for Your Business 

READ MORE GBC Tax Services Website
For All Your Accounting Needs Call GBC 678-366-9232


Wednesday, December 10, 2014

Free Income Tax Calculator

Be prepared this tax season with
good planning and a good accountant
Estimate your income tax return free of charge. These free online income tax calculators help you to estimate your federal tax liability ahead of time.

Take measures to ensure there is no unexpected surprise when it comes time to file your tax return and pay your taxes. 

Estimating your tax liability ahead of time can dramatically reduce your anxiety and stress during the tax season. It allows you to quit worrying about what your tax bill will be and focus on meeting your financial obligation. You can then prepare your tax return without that stress hanging over your head.

READ MORE >> INCOME.TAX.CALCULATOR.COM: Income Tax Calculator 2014 - 2015

READ MORE GBC Tax Services Website
For All Your Accounting Needs Call GBC 678-366-9232

Wednesday, December 3, 2014

Common Misconceptions About State Income Taxes

Understand your state income tax
with the help of an accountant
State income taxes are complicated, especially when each state has their own way of doing things, and this complicated web of differing tax rules can lead to a lot of misconceptions.

Don't fall for these seven common myths about state income taxes this year:

  • Myth 1: I only have to pay income taxes to the state I live in.
  • Myth 2: State income tax rules are the same as federal tax rules.
  • Myth 3: State income taxes are unconstitutional.
  • Myth 4: I have to pay income taxes to the state where my employer is located.
  • Myth 5: I don't have to file a return in a reciprocal state.
  • Myth 6: I got audited, and everything was fine. Therefore, I did everything right on my return.
  • Myth 7: I don't owe taxes because I live or work in a state without an income tax.
READ MORE >> TAXES.ABOUT.COM: Seven State Income Tax Myths



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