FREE TAX HELP, BASIC TAX

ACCOUNTING PRINCIPLES EXPLAINED

Our Mission

To give supporting tax and accounting information to individuals, small businesses and small closely held corporations (including: S and C Corporations, LLCs, and PLLCs).

Our Services

With a focus on the individual and small business, TheWiseAccountant website provides vital and free tax help and clear explanations of basic tax & accounting principles.

A Little About Us

The WiseAccountant website was born out of a realization that people are confused, perplexed, and just plain misinformed on accounting and tax topics. To add to this mix, the tax regulations are in perpetual change. To help our clients and the general public, particularly the small business owner, we decided to put our wealth of knowledge online.

Our team is part of several companies; Wyandt Accounting, CCSI Bookkeeping, MW Accounting, and Update Your Minutes.

Testimonials

“Thanks for an informative, concise, well-run workshop today on the IRS / S-Corps / LLC’s. Thank you for reaching out and providing an invaluable service for small business owners in the community. Yon, you and your staff have looked after my business and personal tax needs since I moved to Bellingham in 2003. I always feel that you have my best interests at heart. I look forward to attending your next workshop in December on fringe benefits and medical pans. I know it will be worthwhile.” – Donna Gawron (Bellingham)

Medical Tax Deductions

CHANGES TO Itemized Deductions for 2013 Medical Expenses If you itemize your deductions on Form 1040, Schedule A, new rules may affect your medical expense deduction. The new rules raise the threshold that unreimbursed medical and dental expenses you paid for...
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Adoption Tax Credit

Adoption Tax Credits Changed for 2013 Maximum Adoption Tax Credit projected to be $12,770 for 2013. Credits will no longer be refundable, but unused part will carry forward to future years. To Get the Credit You Must Have: Domestic and foreign adoptions that have been...
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Use Tax Refund to Purchase Savings Bond

Looking to invest your tax refund this year? The Treasury Department wants to make it easy by allowing a new option for your “direct deposit” refund that purchases U.S. Series I Savings Bonds are a low-risk, interest bearing bonds that are purchased at face value, a...
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Your Corporate Record Book

You keep your corporate minutes and a record of your key decisions in a corporate record book. Your corporate record book helps the corporation meet state reporting and filing requirements. When did you last read or review your record book? The record book is your...
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Corporate Resolutions

To enjoy the benefits of incorporation, the company must observe corporate formalities and properly maintain corporate records and accounts. This often takes the form of corporate resolutions or corporate minutes. Documenting corporate resolutions helps the...
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Corporate Annual Meetings for the Small Business Owner

For those of you who have selected to have your business under a corporate or LLC shield, the date to hold your annual meeting is usually stated in your bylaws or operating agreement. Do you realize that your bylaws and operating agreement is really the constitution...
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Personal Tax Deductions

Many people think that personal tax deductions are Schedule A itemized deductions, but in reality these IRS tax deductions come in a variety of places and ways. But no matter how you look at it, personal tax deductions reduce your taxable income, thus reducing the tax...
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Tax Deductions

Tax Deductions are available to help every tax filer. Depending on the deduction they are taken at different points in the tax return. Many tax filers use tax deductions that are called adjustments and reduce taxable income on page 1 of a standard 1040 tax form. In...
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Education Tax Credit

American Opportunity credit replaces the Hope credit If you need help paying for college, you’ll be glad to hear about the American Opportunity Credit. The education credit has been slightly modified and extends to 2016. The credit provides undergraduates a dollar for...
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Corporate Record Keeping

CORPORATE RECORD KEEPING, BUSINESS RECORDS, TAX RECORDS If you have your own business good recording keeping is essential regardless whether you have incorporated or not. By keeping detailed business records you know how well your business is doing. Tax records are...
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