Posts Tagged ‘Accounting’
How Do You Find a Great, Affordable Tax Preparer?
Are you looking for a good tax preparer or do you want to prepare your own tax return? Maybe you have concerns about your income or your expenses. A professional tax preparer can help answer your questions and file on your behalf but how do you find a good preparer? The IRS offers guidance on…
Read MoreTuesday Tax Tips
Did you know the IRS issued more than 111.8 million refunds, averaging over $2800 each, for the 2018 tax year? There are still ways you can boost your 2019 tax year refund. Boost Retirement contributions. You can contribute to an IRS until the April 15 tax deadline and it will still count toward the 2019…
Read MoreProtect Yourself and Your Business from Identity Theft
Best Defense against IRS taxpayer Identity theft is a strong password. Just before the season on electronic filing and returns, the IRS reminds you to protect yourself. Taxpayer identity theft has grown exponentially in the last few years, but with Stronger passwords, you can guard identity for yourself and your business. Use word phrases that…
Read MoreCheck Your Withholding Before it’s Too Late!
We are in the final stretch of 2019 and now is a good time to check your withholding estimator. Grab your paystubs and other income documents from all income sources. Grab your most recent documents on pensions, annuities, Social Security benefits and self-employment income, as well as 2018 tax return. Go to irs.gov and check…
Read MoreSmall Business Owner: Learn if You Can Claim this Deduction
In a gig economy, there is an important deduction for small business entrepreneurs: Your home office deduction. In general, if you work out of the home, you may use this deduction… When the following applies: As your main place of business. As a place of business where you meet patients, clients or customers in the…
Read MoreIRS videos in Sign Language
In a celebration of the international day of sign languages, IRS ASL Channel on YouTube featured several tax topics: Tax Tips – videos on general tax topics – meant to help people understand their tax responsibilities ID Theft – as taxpayers and their returns becomes a major target for identity thieves, the IRS provides videos…
Read MoreIRS Using Private Debt Collection for Overdue Taxes
Four collection firms have been contracted by the IRS’ new private collection program of overdue federal tax debts. The groups are CBE Group of Cedar Falls, IA, Conserve of Fairport, NY, Performant of Livermore CA, and Pioneer of Horseheads, NY. Each taxpayer or business tax account which owes these certain types of overdue federal tax…
Read MoreTuesday Tax Tip: 3rd Quarter Estimated Tax Due Soon
Third Quarter Estimated tax payment due Monday Sept 16. Can you believe major tax reform is in its second year? As taxpayers are seeing its full effect on 2018 returns, the IRS reminds people who pay estimated tax that their third quarter payment for 2019 is due Monday September 16. Thanks, IRS. On a brighter…
Read MoreTuesday Tax Tip – Distribution Checks
Tuesday Tax Tip – Distribution Checks The IRS released a ruling that retirement plan distribution checks must be taxed even if the check hasn’t been cashed. An individual’s failure to cash the distribution check received in 2019 does not permit one to exclude the amount of the designated distribution from gross income for that year…
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