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Trusted Answers From Licensed Business Professionals
TAX PREPARATION

Paying Your Taxes With a Credit Card

By The BIDaWIZ Team on February 7th, 2010 at 8:00 am

If you are considering paying your taxes with a credit card because you don’t have the money, then think again. If you have the money but are paying because of convenience then that is okay as long as you are aware of the fees and interest that can add up. Read More.

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TAX PLANNING

Property Tax Reassessment Questions

By The BIDaWIZ Team on January 28th, 2010 at 8:00 am
If you believe the current value of your home is lower than the last assessed value (i.e. basis for property taxes), then it might be time for a reassessment. .
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TAX REPORTING

Tax Advice For S Corporation Compensation

By The BIDaWIZ Team on January 27th, 2010 at 8:00 am
This topic is often misunderstood and the penalty could be as high as getting audited. The amount a corporate officer is compensated (i.e. wages) is very important. .
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TAX BREAKS

Overlooked Tax Deductions & Credits For Trainers & Gyms

By The BIDaWIZ Team on January 26th, 2010 at 8:00 am
As a self employed personal trainer or fitness gym owner, managing the business can get quite overwhelming especially when you throw taxes in the mix. Below, we've provided a listing of some tax deductions & credits that are often overlooked. .
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TAX SAVINGS

Donating to Haiti? Hold Off on Filing that Tax Return

By The BIDaWIZ Team on January 21st, 2010 at 8:00 am

Congress passed a bill which allows donations to the Haiti Earthquake Relief Effort to be claimed as a tax deduction on 2009 tax returns. The donations must have been made between January 12th and February 28th, 2010. For those that have already filed their 2009 returns, rest assured, you can amend your return to include this tax deduction. Just a little more paper work. Read More.

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BUDGETING, INVESTING

New Baby? You Better Be Updating Your Financial Plan

By The BIDaWIZ Team on January 19th, 2010 at 8:00 am

Face it, things have changed. A new baby means new responsibilities which includes setting up a financial plan for the child. Too many new parents are so focused on the present that they fail to setup a financial plan for their child’s future. Big Mistake! Here’s what you can do to start fixing this problem. Read More.

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FINANCING

Should you Apply For a Loan to Hire Employees?

By The BIDaWIZ Team on January 16th, 2010 at 8:00 am
Looking to grow your business and hire more staff is always a very exciting yet important point in a business. .
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TAX REPORTING

Separating Personal Assets From Business Assets

By The BIDaWIZ Team on January 15th, 2010 at 8:00 am
Starting your own business can become overwhelming as each decision in the beginning is very important. One recent client came to us with this question, "How do I separate my personal information from my business information when opening up a new e-commerce business. Should I go with an LLC? .
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TAX PREPARATION

What Is The Best Way To File Taxes?

By The BIDaWIZ Team on January 14th, 2010 at 8:00 am
As with most tax topics, the answer depends on the situation and requires a discussion with your spouse or business partner. We know this topic can get contentious at times so be sure to discuss all of the benefits and drawbacks of each option. Also, make sure the focus is not completely on which method is cheaper or what method you used last year. The financial positions of individuals and businesses change each year so the method you use to file your taxes should also be re-evaluated. .
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TAX PREPARATION

Answers to Divorce Tax Filing Questions

By The BIDaWIZ Team on January 14th, 2010 at 8:00 am
Geez, its true the whole divorce thing can get quite complicated especially when you throw taxes in the mix. So many tax questions like, "How do I file?...How much in tax deductions do I take?...What does he or she take?...Can they really claim all of that?...Am I liable for any of their penalties?" It can all get very overwhelming. But, take a deep breath and continue reading as we will help you find the answers to your tax questions. .
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