Month: April 2017

First Time Filing Those Taxes? What Do You Need To Know?

Tax time doesn’t need to stress you out at night… get the professional help of Sterling Accounting’s experts and rest easy! With only a few days before the tax deadline, what do you need to know if you’re a first timer at filing those taxes?

“If you’re filing as single or married filing jointly with no dependents, you intend to claim the standard deduction (meaning you’re not itemizing your deductions) and your income consists only of wages, salaries, and tips; taxable interest of less than $1,500…” [ Read more here ]

IRS Changing Up Procedures For Changing Accounting Method

New IRS reporting rules will be taking affect for many businesses around the country, the proposal is slotted to begin at the end of this year.

“The Internal Revenue Service is proposing procedures for how a taxpayer can ask for automatic consent to change an accounting method in preparation for the Financial Accounting Standards Board’s new revenue recognition standard…” [ Read more here ]