TaxLoopholes Blog
Online Workshop: The 5 Biggest Rip-Offs in Credit Card Processing
If you have a business and don’t take credit cards, you are missing a big source of immediate cash. In fact, you can count on your sales jumping by about 40% by taking credit cards. But, you can also run into major issues with merchant account processors, if you’re not careful. In this week’s brand new Online Workshop, you’ll learn about the 5 biggest ways credit card processors can take advantage of you - and how to stop them!
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Is this the Next IRS Target?
Since I started reviewing tax returns for FREE! I’ve seen a whole range of quality of returns.
There are some that are prepared really well with good strategic forethought by obviously qualified professionals. That’s the good news. The bad news is it’s probably 1% of the total I’ve seen that is done right. That means 99% of them are wrong.
Just one of the recurring mistakes I see with business returns is making wrong or bad accounting elections.
You have a choice of cash, accrual or hybrid. Choosing the right method and following through on it, can save you thousands of dollars!
It’s a basic financial question and requires fundamental understanding of financial statements. Makes me wonder if some of these preparers skipped that class in school.
Bottomline, though, if your return is wrong, you’re the one who is going to pay the price.
