Form 720 is a quarterly excise tax return that some; businesses must file with the Internal Revenue Service. According to the IRS, “Excise taxes are taxes paid when purchases are made on a specific goods, such as gasoline. Excise taxes are often included in the price of the product. There are also excise taxes on activities, such as on wagering or on highway usage by trucks.” If you accrue excise taxes in the course of doing business, you should know the rules on filing 720 taxes. Continue reading Form 720, Quarterly Excise Tax Return for 4th Quarter of 2015 is due NOW!
World loves the First, which is Always the Best
Who will forget 2:56 UTC July 21, 1969? Yes that is when a representative on mankind Neil Alden Armstrong stepped on the surface of moon and took a walk. The entire voyage to the moon faced a lot of obstacles, they had landing problems, they even went low on fuel and its also said that Armstrong’s heart beat touched 110 beats per minute during the launch of Apollo 11. He faced all these troubles and the result was fruitful, the entire world remembers him till date. Continue reading World loves the First, which is Always the Best
Why e-file Form 2290 and not paper file?
Greetings! You have landed at the right place in case you have been wondering why everyone’s talking laurels about e-filing over paper for long now. Obviously, you go green immediately, without wasting paper products of our beloved little left trees. The ability to file your tax returns round the clock throughout the week right at your desk at home makes life very comfortable and easy. The speed of the entire tax return process dramatically increases with e-filing over paper due to advanced internet capabilities thus saving you money and energy worked out on postage/fax/courier/delivery charges, which of course can be used over a million other valuables. Continue reading Why e-file Form 2290 and not paper file?
Tips for Truckers, who are at home this Holiday.
It’s that time of the year when most of the truckers are trying to reach home to spend time with their loved ones over the holiday season. Truckers who do not have a family, will mostly agree to stay out on the road to give time to their fellow Truckers who do have small children or family an opportunity to spend the holidays at home.
Few suggestions for truckers, before heading home this holiday Season: Continue reading Tips for Truckers, who are at home this Holiday.
Why and How to Keep Records of Your Tax Documents
‘Prevention is better than cure’ is one of the oldest phrases that we hear from time to time. In business when it comes to financial matters, it is important to keep records of all transactions as a precaution; be it small or a big transaction. The sole and the most important reason to perform business activities is to earn profit; increase the zeros in our bank accounts. At the same time, we want to make sure that no mistakes or problems occur while earning those hard earned dollars for IRS or anybody else to snatch it away from us. Hence we need a good record keeping system that can actually help you save money. Keeping records to maintain the progress of our business is just as important. As per the IRS, Keep records of all your Excise taxes for at least 3 years after the date the tax is due or paid, whichever is later. They must be available at all times for inspection by the IRS. When it comes to tax 2290, it is important to maintain records for the following reasons: Continue reading Why and How to Keep Records of Your Tax Documents