Ruth’s Blog
Getting through a tax audit with confidence
Being prepared is the best bet for getting through a tax audit with confidence. How can you prepare for a tax audit? There are several things to consider. Getting a tax audit can be stressful and even just getting a letter from the IRS could instill anxiety if you are...
Eliminate tax surprises at year end!
Tax code is overwhelming and constantly changing. Learn more about depreciation rates, quarterly tax obligations and Affordable Care Act rules, in this short video from Ruth!
Year-round bookkeeping and tax services!
You don't have to do it alone. We are here for you! As the end-of-year approaches, many small business owners find themselves dreading the upcoming tax season. Ruth E. Collins, CPA, LLC provides year-round bookkeeping and tax services for small businesses....
It’s Never Too Early to Save for Retirement – And it may even cut your tax bill too!
It can’t be overemphasized: No matter how old you are, saving for retirement is a smart move. The following article from Fidelity Investments shows that not only can it significantly “pay to save in an IRA” but also that “the age you start investing really...
Tax season is just around the corner. Don’t miss out on any tax breaks!
It's time to organize your documents for tax preparation. Look at last year's tax return to see which tax deductions you took (Form 1040 Lines 23 -37 and Schedule A). Better yet, fill out the tax organizer so that you don't miss a single one! Gather the...
A New Year’s Resolution Worth Keeping
The Fidelity Investments website states that "although estate planning can be a complex task, a well-informed plan can make a big difference in what is left for your loved ones." There's no time like the present, so why not make 2017 the year to get your...
Do You Want to Improve Your Tax Return’s Bottom Line?
Sometimes, a few moves can make a difference on your tax return's bottom line. Before 2016 is a memory make sure to attend to these six tax-savings tips recommended by Fidelity Investments.
Have You Had an Honest Conversation with your Kids about College Costs?
Have you had an honest conversation with your kids about college costs? One undeniable financial fact is that college is expensive. Helping your college-bound child make informed decisions about college choice involves open communication about: the reality...
Could You Be a Victim of Cyber Crime?
According to the anti-virus company Norton (by Symantec): "Cybercrime has now surpassed illegal drug trafficking as a criminal moneymaker" and "Somebody’s identity is stolen every 3 seconds as a result of cybercrime." So, what are the potential threats to...
Home Energy Efficiency Credit – Act fast!
Have you been contemplating some home improvements, such as a solar electric system or replacement windows? Is your water heater due for replacement (average life of 8 years)? Well, you might want to make your decision and act on it quickly. 2016 is the...