Tax

Hilary Clark passes all parts of the Enrolled Agent Exam

Since last tax season, Hilary Clark, has been busy studying for the Enrolled Agent Exam. The exam includes three days of testing. Hilary took the first part in May, the second in December and passed the last section in January. … Continue reading

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IRS Mileage Rates for 2017

Business Miles                                 53.5 cents per mile Medical Miles                                  17.0 cents per mile Moving Miles                                  17.0 cents per mile Charitable Service                          14.0 cents per mile   A taxpayer may not use the business standard mileage rate for a vehicle after using … Continue reading

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Important Changes in Corporate & Partnership Tax Filing Dates

The new deadline for C corporation returns has been moved from March 15th to April 15th  with an optional five month extension, however, C corporations with a June 30 year-end will not be affected until 2025 and qualify for a … Continue reading

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Answers to Your Billing Questions

For someone who has not used a CPA firm, billing may be a mystery, but it is not complex.  Like any other business, we must charge enough to cover our expenses.  What are these expenses? CPA firms have large overhead … Continue reading

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Use your 990 as a Marketing Tool, not an Afterthought

Many non-profits consider preparation of the Form 990, Return of an Organization Exempt from Income Tax, a chore on their list of necessary evils – often extending and filing at the very last moment. There is another way to look … Continue reading

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Social Security Changes

Double claiming has been eliminated for people who turn 62 after 12/31/2015. Some dual-earning couples who are 66 or older have “double claimed” by having the lower earner claim half the higher earner’s social security temporarily while allowing the lower … Continue reading

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Self-Employment Taxes and Tax Issues for Artists Workshop

The City of Bangor’s Commission on Cultural Development invites you to attend a workshop on Self-Employment Taxes and Tax Issues. This free workshop will be held Wednesday, January 20, 2016 from 6-7:30 p.m. in the Story Room of the Bangor … Continue reading

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Important EFS Tax Deadlines

EFS has a heavy volume of work from January through April.  In order to insure that we have adequate time to prepare and review returns and extensions thoroughly, we must have all information submitted to us on a timely basis.  … Continue reading

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Changes in Tax Filing Due Dates

Effective with 2016 returns, calendar year C corporation returns will be due on April 15th instead of March 15th and may be extended five months.  C corporations with a June 30 year-end will not be affected until 2025 and qualify … Continue reading

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Want better Tax Results at a Lower Preparation Fee? Organize Your Material.

Every year during the “dreaded tax season” accountants work long hours to meet the deadlines imposed by the IRS for filing individual returns and business returns. Every year, tax regulations change and become more and more complex. In recent years, … Continue reading

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