by admin | Jan 26, 2024 | Miscellaneous
Each year thieves try to steal billions in federal withholdings by stealing your identity. As the IRS focuses more attention on this quickly growing problem, now is the time of year to be extra vigilant. Early tax filing season is the worst time Your federal tax...
by admin | Jan 19, 2024 | What's New
Especially important for new business startups Beginning in 2024, many small businesses will have to report information about their owners to the Financial Crimes Enforcement Network (commonly referred to as FinCEN), a bureau of the U.S. Department of the Treasury...
by admin | Jan 12, 2024 | What's New
New mileage rates announced by the IRS Mileage rates for travel are now set for 2024. The standard business mileage rate increases by 1.5 cents to 67 cents per mile. The medical and moving mileage rates are now 21 cents per mile. Charitable mileage rates remain...
by admin | Jan 5, 2024 | Miscellaneous
Now is the time to make your estimated tax payment If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. The 4th quarter due date for the 2023 tax year is now here. Due date:...
by admin | Jul 28, 2023 | What's New
The IRS recently announced a major policy change that it will end most unannounced revenue officer visits to taxpayers. This announcement is being picked up by all the major news outlets, but as is usually the case, it lacks context. Here is what you need to know....
by admin | Jul 21, 2023 | The Audit
Not always needed or wise There’s usually an element of relief after your annual tax return has been filed. But what do you do if you find an error on your tax return? Should you always file an amended return? Here are some things to consider. Errors in the...
by admin | Jul 14, 2023 | Your Income
While the maximum capital gain tax rate can be as high as 23.8 percent, most taxpayers pay 15 percent. But there is the possibility to have your capital gains go tax-free…yes, zero percent! In fact, this tax break has been around for more than a decade and comes...
by admin | Jul 7, 2023 | What's New
New contribution limits are on the horizon Contribution limits for the ever-popular health savings account (HSA) are set for 2024. And inflation adjustments break through the historic trends of 1 to 2% increase each year. Next year the amount you can save to pay for...
by admin | Jun 30, 2023 | Planning
Know someone getting married? Send them this tip now. If you recently got married, plan to get married, or know someone taking the matrimonial plunge, here are some important tax tips every new bride and groom should know. Notify Social Security. Notify the Social...
by admin | Jun 23, 2023 | What's New
Due date is July 17! “Time is running out for more than a million people to get their tax refunds for 2019,” said IRS Commissioner Danny Werfel. “Many people may have overlooked filing a 2019 tax return due to the pandemic. We don’t want people...
