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Tax help > Important Tip for March 15 Business Tax Filers on Avoiding a Common Error

Important Tip for March 15 Business Tax Filers on Avoiding a Common Error

Lowell, MA (ContentDesk) February 26, 2004 -- One in three business tax returns have the wrong Internal Revenue Service (IRS) Business Activity Code, according to Roger Winsby, president of Axiom Valuation Solutions.
This analysis is based on a review of hundreds of returns by his company, a national provider of business valuation services.
With only a few weeks before the business income tax filing deadline, Mr. Winsby recommends that CPAs and other tax practitioners should check the current IRS Business Activity Code assignment for their client companies at http://www.naicscode.com/.
This FREE web site offers a state-of-the-art industry search engine with the only comprehensive linkage between IRS Business Activity Codes, North American Industry Classification System (NAICS) Codes (both 2002 and 1997 versions), and the older SIC Codes.

These linkages are a key asset for assisting users to find the right business activity code.
Mr. Winsby notes "The IRS Business Activity Code is a required line on a business tax return, yet many CPAs tell us that they are not sure whether they have made the correct IRS Business Activity Code assignment after the switchover from the SIC Code system in the late 1990s."
Since one of the ways that the IRS selects companies for audits is to screen for companies that have different financial metrics than their industry peers, having the wrong code assigned raises the possibility of an IRS audit ? an occurrence CPAs and business owners want to avoid!A select group of premier companies serving the accounting and business owner markets sponsor the free search services of NAICSCode.com.
These include Axiom Valuation Solutions, a leading provider of expert business valuation services nationwide; AccountingMalpractice.com, a comprehensive loss prevention and risk management resource for CPAs; and U.S. Financial Advisors, LLC, which specializes in affiliation and consulting services enabling CPAs to integrate personal and business financial services and products into their practices; SICCode.com, one of the largest online business directories; and AccountAbility Outsourcing, which provides companies access to qualified accounting and finance professionals on an outsourcing basis.About Axiom Valuation SolutionsAxiom Valuation Solutions is based in Lowell, MA.

The company under the direction of Chairman Stan Feldman, Ph.D. provides expert certified business valuation services and expert consulting, including acquisition purchase price allocation and goodwill impairment testing.
The company's services are sold primarily by referral through CPAs, lawyers, and financial advisors.
The company also offers a unique business value estimate service that financial advisors and CPAs recommend for their business owner clients who need timely, cost effective, and reliable value answers to start making the necessary plans for their eventual transition out of the business and for minimizing the risk along the way.
For more information, go to www.AxiomValuation.com.

Media Contact:Roger WinsbyAxiom Valuation Solutions978-654-6092 x194e-mail protected from spam bots.


Get Rich Slowly

Is it hard to get rich? If you're young, not really.Its fun to play with financial calculators and see what might happen.If you have just graduated from college and are about 22 years old and if you put $100 a month in an IRA that grows at 10% a year, you will have around $865,000 at age 65. 10% a year is about what you should expect if the money was placed in a no-load S&P 500 Index Fund.So for about $23 a week or $3.30 a day you will be close to being a millionaire.If you contribute the full $4000 a year allowed right now (rising to $5000 in 2008), you would have$2,600,000. For about $11.00 a day, you would have a small fortune.If you didn't want to take a chance with the stock market (after all, it goes down sometimes), you would still have over $600,000 if you could get a 5% return.If your grandmother leaves you $10,000 in her will and you invest it for the same 43 years at 10% without adding another cent, you'd still have over $600,000 if you placed it in a tax sheltered account.Time...

Get Rich Slowly
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Business Tax Deductions

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Business Tax Deductions
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Important Tip for March 15 Business Tax Filers on Avoiding a Common Error

Lowell, MA (ContentDesk) February 26, 2004 -- One in three business tax returns have the wrong Internal Revenue Service (IRS) Business Activity Code, according to Roger Winsby, president of Axiom Valuation Solutions.
This analysis is based on a review of hundreds of returns by his company, a national provider of business valuation services.
With only a few weeks before the business income tax filing deadline, Mr. Winsby recommends that CPAs and other tax practitioners should check the current IRS Business Activity Code assignment for their client companies at http://www.naicscode.com/.
This FREE web site offers a state-of-the-art industry search engine with the only comprehensive linkage between IRS Business Activity Codes, North American Industry Classification System (NAICS) Codes (both 2002 and 1997 versions), and the older SIC Codes.

These linkages are a key asset for assisting users to find...

Important Tip for March 15 Business Tax Filers on Avoiding a Common Error
Tax help > Important Tip for March 15 Business Tax Filers on Avoiding a Common Error

Tax Information for Small Businesses

(ARA) - The IRS publishes a lot of tax information to help small business owners and there are many ways to get it. You can always visit an IRS office to pick up copies of IRS forms and publications, although the IRS continues to make it easier for you to get these materials without leaving your office or maybe even your home.The IRS will send you forms and publications free of charge when you call them at 1-800-829-3676 with your request. Normally, you will receive the materials within 10 days, although there is another way to get tax materials right away.If you have access to a personal computer, you can browse and download IRS forms and publications from the IRS Web site at www.irs.gov.You also can get interactive help with your taxes while you're on line. For the latest information on business-related tax topics, click on the "Tax Info for Business" section. You'll find links to other Internet sites that may be helpful for your type of business.Tax Fax is another way to get business...

Tax Information for Small Businesses
Tax help > Tax Information for Small Businesses

Get Rich Slowly

Is it hard to get rich? If you're young, not really.Its fun to play with financial calculators and see what might happen.If you have just graduated from college and are about 22 years old and if you put $100 a month in an IRA that grows at 10% a year, you will have around $865,000 at age 65. 10% a year is about what you should expect if the money was placed in a no-load S&P 500 Index Fund.So for about $23 a week or $3.30 a day you will be close to being a millionaire.If you contribute the full $4000 a year allowed right now (rising to $5000 in 2008), you would have$2,600,000. For about $11.00 a day, you would have a small fortune.If you didn't want to take a chance with the stock market (after all, it goes down sometimes), you would still have over $600,000 if you could get a 5% return.If your grandmother leaves you $10,000 in her will and you invest it for the same 43 years at 10% without adding another cent, you'd still have over $600,000 if you placed it in a tax sheltered account.Time...

Get Rich Slowly
Tax help > Get Rich Slowly

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