Wisconsin Accountant Newsletter At Farrow & Associates LLC we feel that an informed client is our best customer. We know that there is a lot of information on the Internet and it can be tough to determine what is valuable. That is why we have selected the following article(s) for you to view. Please feel free to contact us if there is a topic we have not covered that you would like information on.

Retaining Tax Information and Records Retaining and storing your income tax information and records is an important final step of your tax filing responsibility. This article contains information on the rules for keeping your tax records.   Preserving Tax Deductions for Business Travel If a taxpayer's trip is undertaken solely for business reasons, reasonable and necessary travel expenses, including travel fares, lodging, meals, and incidental expenses in getting to and from the destination are generally deductible on federal tax returns (subject to the 50% disallowance for meals and entertainment).   Tax Aspects of Becoming Self-employed Individual taxpayers are opting to start their own businesses for myriad reasons. Regardless of why you?re contemplating self-employment, you should consider several basic tax-related issues before and immediately after actually leaving your current job.