Essential Tax Credits Every Parent Should Know About

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Article Highlights: Social Security Number Child Tax Credit Child and Dependent Care Credit Adoption Tax Credit Earned Income Tax Credit Credit for Other Dependents American Opportunity Tax Credit Lifetime Learning…

Essential Year End Tax Moves You Can't Afford to Miss

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 Article Highlights: Itemizing Deductions and Medical Expenses Prepaying Property Taxes Charitable Contributions and Bunching Deductions Required Minimum Distributions (RMDs) Did You Know You Can Make Charitable Deductions…

Holiday Gifts That Offer Tax Benefits for You and Your Loved Ones

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Article Highlights: Educational Gifts: A Gift for the Future Retirement Contributions: A Gift with Long-Term Benefits Gifts to Spouses: Supporting Self-Employment Gifts to Spouses: Qualifying Clean Vehicle Employee Gifts: Navigating…

Important October 2024 Due Dates

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October 2024 Individual Due Dates October 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during September, you are required to report them to your employer on IRS Form 4070 no later…

Important September 2024 Due Dates

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September 2024 Individual Due Dates September 1 - 2024 Fall and 2025 Tax Planning  Tax Planning Contact this office to schedule a consultation appointment. September 10 - Report Tips to Employer If you are an employee who works for…

Checking the Status of Your Federal Tax Refund Is Easy

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Your federal tax refund status can be checked online. E-file refunds are generally issued within 21 days of filing. Direct deposit provides the quickest refunds. If your 2023 federal tax return has already been filed and you are…

Can’t Pay Your Taxes? Here Are Some Options

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Article Highlights: If You Can’t Pay Automatic Extension in Federally Declared Disaster Areas Family Loans Home Equity Loans and HELOCs Credit Card Short-term Payment Plan IRS Installment Agreement Retirement Funds …

The 2024 Tax-Filing Deadline Is Drawing Near

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Article Highlights: Extensions Balance-Due Payments Contributions to Roth or Traditional IRAs Individual Refund Claims for the 2020 Tax Year Missing Information  As a reminder to those who have not yet filed their 2023 tax…

E-File Mandate - Reporting of Cash Payments Over $10,000

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Article Highlights: Reason for Form 8300 E-File Mandate Waiver Exemptions Late Returns Late Filing Penalties Record Keeping E-File Starting Jan. 1, 2024, businesses are required to electronically file (e-file) Form…

Coming Soon – Business Beneficial Ownership Reporting

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Article Highlights Corporate Transparency Act (CTA) Financial Crimes Enforcement Network (FinCEN) Companies Required to Report Beneficial Ownership Information Who is a Beneficial Owner Filing Due Dates Penalties Updates …