How do you check if you owe the IRS back taxes?

Every day we hear about new scams in which a scammer calls victims and claims to be the IRS, demanding money. The general professional consensus is that the IRS will never call and demand money, but that is going to be changing in the next few months. Congress passed the FAST Act, which authorizes private […]

Estate Administration: An Illustrative Tale

Jack and Diane Smith are in their mid-50’s. Jack’s father, Thomas, recently passed away. Jack is named as the executor of his father’s estate. Jack isn’t sure exactly what he’ll need to do to handle his father’s estate, so he hires Greg of Freyman CPA and a local law firm to assist him in all […]

Freyman CPA on Pitfalls of Sales Tax and Use Tax

Have you had any of these thoughts about your business’ sales tax or use tax obligations: “I’m a service provider; I don’t need to collect and remit sales tax.” “We were only in the state at a trade show for one week – we don’t have physical presence in the state, so we don’t have to […]

Special Considerations To Note When Filing Form 1040NR

Part III: Special considerations when filing Form 1040NR This three part series will look at who qualifies, requirements and exemptions of the form based on individual circumstances, and, finally, special considerations to note when filing a 1040NR: U.S. Nonresident Alien Income Tax Return.  Even after you have determined which form you should use for filing […]

Which Form 1040NR should I file?

Part II: What form should I file? This three part series will look at who qualifies, requirements and exemptions based on individual circumstances, and, finally, special considerations to note when filing a 1040NR: U.S. Nonresident Alien Income Tax Return.  After establishing who is considered a U.S. nonresident alien (NRA) in Part I, the next step […]

Are You a U.S. Nonresident Alien (NRA)?

Form 1040NR – U.S.Nonresident Alien Income Tax Return requires U.S. nonresident aliens (NRAs) to file this form if the NRA participated in any trade or business in the U.S. during the tax year and has U.S. source income.  Activities to include studying, teaching, or doing research in the U.S. are considered to be participating in […]

What You Need to Do with Form 1095

You, your employees or your clients may receive one or more forms that provide information about 2015 health coverage. These are Form 1095-A, 1095-B and 1095-C. The following health care tax tips provide some answers to common questions about these forms: Form 1095-A: What you need to do with this form Form 1095-B: What you need […]

Tax Scams – What to Look Out For

As a reminder during this tax season as well as throughout the year, it is important to keep in mind that the IRS will not contact you by phone or e-mail regarding tax liens or outstanding tax liabilities.  The IRS has strict protocols when contacting taxpayers regarding tax deficiencies, with letters of correspondence being their […]

Value in Choosing a Professional CPA Firm

We understand that there are others in our industry that charge by the form.  At Freyman CPA, P.C., we go beyond the preparation of tax forms to find ways to reduce your tax burden and help plan for your financial future.  We take a holistic approach utilizing technology, experience, and knowledge to provide the best […]

Schedule C Hot Topics

With tax season upon us, we have compiled a list of hot topics the IRS has been known to closely examine with the filing of a Schedule C – Profit or Loss from Business. The IRS’s primary concerns revolves around the reliability/duplication of information provided on the Schedule C as well as the methods used […]