Rich Streitfeld, CPA

Posts by Rich Streitfeld, CPA

Richard Streitfeld – Buddhist Mensch

Stay In Your Groove
(Keeping Records Without Going Off Track )

Q: How long should I keep tax records? B. Madoff, investor A: In general it’s advisable to save documentation supporting your tax return for seven years. The IRS generally has three years from the date of filing to audit your return, but up to seven if it suspects you under-reported your income. If you didn’t
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Zen Mensch Accounting

Om Vey! Q And A with the Zen Mensch CPA
(Mindful Answers, What’s Not To Like?)

I’m aqua-phobic and I always pay my taxes on April 15, unless it’s raining. Wait a month and I ALWAYS receive a penalty notice from the IRS.  Why is my CPA screwing up and why haven’t I switched? Your tax return is due April 15, but taxes must be paid throughout the year, whether you are paid
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Zen Mensch Accounting

Incorpo-Right!
(Don’t Flub Your Business Structure)

You launched Herman’s Hermetically-Sealed Hermits last year.  Now your CPA is telling you it was set up all wrong. Triple H was set-up as a C-corporation, but it probably should have been an S, or maybe even a “single-member LLC.” Huh? My company, ALSD, incorporates businesses and organizes LLC’s. This year Triple Hcame to me for tax preparation, but  first I
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Richard Streitfeld – Buddhist Mensch

Co-Ops, Collaboration And Crowdfunding:
Working Together In The New Economy 

A few weeks ago I was detailing the perils of self-employment tax to college students. Combined with the other hard costs of living independently it was enough to dissuade anyone from starting a business or even doing serious freelance (“1099″) work.”I need something positive,” said a woman in the front row.I started to panic —
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