We want to meet your expectations. Please follow these guidelines to help ensure that we can do that. If you need assistance with any software anytime, please contact our Operations Team instead of your accountant. Our Operations Team is ready and able to help you promptly, so no waiting is necessary 🙂 If you have […]
How to be Tax Ready Read More »
Imagine having filed and paid your taxes last year, then months later you get a letter in the mail from the IRS saying you didn’t. That’s what’s happening to many taxpayers this year thanks to automated notices being sent by the IRS. But if you got one, don’t panic. There’s a fair chance the IRS simply hasn’t seen what
Don’t panic if you got a scary IRS notice Read More »
S corporation owners are in a unique situation when it comes to federal income taxes. First, a look at why S corporations are different from corporations, and then how to avoid tax issues for owners. S Corporations and Taxes The S corporation (S corp) is a special kind of corporation that passes corporate taxes through to the shareholders.
What Is a Reasonable Salary for an S Corporation Officer? Read More »
Key Findings Twenty-one states and the District of Columbia had significant tax changes take effect on January 1, 2022 Five states (Arizona, Arkansas, Louisiana, North Carolina, and Oklahoma) cut individual income taxes effective January 1. The District of Columbia was the only jurisdiction to increase income taxes. Four states (Arkansas, Louisiana, Nebraska, and Oklahoma) saw
State Tax Changes Effective January 1, 2022 Read More »
Investors in cryptocurrencies may be sitting on big profits. Bitcoin and Ethereum, the two largest cryptos, are up 100% and 470% this year, respectively. Solana, another major coin, is ahead 13,300%, while the “joke” token Dogecoin has gained 49,000%. While the profits may have enriched crypto owners, taxes may be coming due soon, and the
Own Crypto? Here’s How to Avoid Running Afoul of the IRS. Read More »
Cuando vende un activo de capital, la venta da como resultado una ganancia o pérdida de capital. Un activo de capital incluye la mayoría de las propiedades que posee para uso personal o posee como inversión. Estos son 10 hechos que debe conocer sobre las ganancias y pérdidas de capital: Activos de capital. Los activos de
10 hechos que debe conocer sobre las ganancias y pérdidas de capital Read More »
Forms 1099 Businesses (including Schedule C’s, farms, and rentals) are required to prepare these annual informational returns for certain amounts paid during conduct of their trade or business. Recipient copies are required to be issued by January 31, 2022. We will be issuing more detailed information on this subject before the end of the year,
Upcoming Due Dates and Important Info Read More »
Congratulations if you are reading this and you found a new job! We know that these past few years have been extremely hard on a number of industries and finding a job can be very difficult. We hope with your new job you feel mostly excited, and we can take away some of the stress
New Job! Should I change my withholdings?… How do I fill out my W4? Read More »
You read that right! Your business can earn up to a $9,600 tax credit for each new person you hire. How? The Work Opportunity Tax Credit (WOTC) is a federal tax credit that encourages employers to hire people facing barriers to employment. Qualifying individuals include some veterans, individuals who have received government assistance through various
Save Money AND Hire New Employees-Work Opportunity Tax Credit Read More »
With bitcoin, you can run afoul of the IRS in a few surprising ways, so it pays to learn the rules. The big picture? Bitcoin and other cryptocurrencies that you buy, sell, mine or use to pay for things can be taxable. Also, if your employer or client pays you in bitcoin or other cryptocurrency,
Bitcoin Taxes in 2021: A Guide to Tax Rules for Cryptocurrency Read More »
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