Posts Tagged ‘tax preparers’
New Business? Remember the Taxes
Starting a business can be incredibly rewarding – and a little overwhelming. Even as you make business plans, and marketing strategies; keep in mind, you will need have tax responsibilities and there are steps to take and business tax structure to consider. What will be your business structure? The form of your business determines which…
Read MoreIRS Extension Filing Deadline Almost Here
If you requested an extension for filing your 2018 tax return, the IRS reminds us your deadline is close, Tuesday, October 15, 2019. AcctServices.org wants to remind you there is still time for taxpayers to file a complete – and hopefully accurate – return. The deadline doesn’t mean you should wait until October 15 to…
Read MoreTuesday Tax Tip: 2019 Tax Filing Changes to Know
There is still time to get more out of your deductions and contributions before the end of the 2019 tax year. Parts of the 2017 reform did not take effect until this year, and, as most years, the contribution caps changed for 2019. Here is what you should know about 2019 tax filing changes. The…
Read MoreHome Schooling Tax Reminder
Home Schooling? In 2018 the IRS EO(Exempt Organization) implemented revisions to the form 1023EZ. Now the IRS EO will Ask for a short description of your activities when applying for 501(c)(3) status Ask more questions about: Your gross receipts (your sources of income) Your assets (what you own) What kind of foundation are you? If…
Read MoreTuesday Tax Tip
As Dorian approaches, IRS reminds preparation for natural disaster Secure key documents and make copies think tax returns, birth certificates, deeds, titles and insurance policies. Put in waterproof containers in a secure space. Duplicates should be kept with a trusted person outside the disaster area. A backup scan on flash drive is another way to…
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…
Read MoreTuesday Tax Tip: Sales Taxes Are Due -Even on Internet Purchases
Last year, a 1992 sales tax regulation was overturned, allowing states to decide whether they wanted to collect sales taxes from online purchases. The 2018 ruling caused e-commerce company share prices to temporarily tumble. Most online retailers, such as Amazon, have already been paying state sales taxes for years, but other online vendors, even large…
Read MoreTuesday Tax Tip
Keep sources of cash flow separate.
Read More16 US State Tax Holidays 2019
Back-to-School? See personal tax savings list here. Sixteen US States are having Sales Tax Holidays to give stressed parents a break in back-to-school costs. If you are buying spcific items within the tax exempt guidelines offered by these states during the posted dates, you will not be charged sales tax from participating vendors. To make…
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