Monthly Archives: March 2013

Use QuickBooks’ Tools to Prevent Financial Fraud

Whether your accounting tasks are done on a single PC or you have multiple users working on different screens, it's critical that you make use of all that QuickBooks offers in terms of internal controls. First Stop: Audit Trail An audit trail is a very large report that displays every addition, deletion and modification of…
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Tax Relief Extended for Victims of Hurricane Sandy

In the aftermath of Hurricane Sandy, the Internal Revenue Service announced additional tax relief to affected individuals and businesses, further extending tax deadlines until April 1 for the following FEMA-designated counties: In New Jersey (starting October 26): Monmouth and Ocean counties. In New York (starting October 27): Nassau, Queens, Richmond and Suffolk Counties. In addition, the IRS will work…
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The Facts: Medical & Dental Expenses and Your Taxes

If you, your spouse or dependents had significant medical or dental costs in 2012, you may be able to deduct those expenses when you file your tax return. Here are eight things you should know about medical and dental expenses and other benefits. 1. You must itemize. You deduct qualifying medical and dental expenses if you…
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It’s Not Too Late to Make a 2012 IRA Contribution

If you haven't contributed funds to an Individual Retirement Arrangement for tax year 2012, or if you've put in less than the maximum allowed, you still have time to do so. You can contribute to either a traditional or Roth IRA until the April 15 due date for filing your tax return for 2012, not…
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