2021 brought a wave of new tax changes for businesses, and 2022 could bring yet another surge. With the end of year in sight, there’s a window of opportunity in the fourth quarter to make strategic tax planning moves that … Continue reading
Year-End Tax Planning for Businesses
We’re Hiring: Tax + Financial Planning Associate
Why you should consider a career with Erock Tax + Financial Planning. While we may work mostly with numbers, our firm is all about people. At Erock Tax + Financial Planning, you will help individuals, families, and small businesses with … Continue reading
Year-End Tax Planning for Individuals
As we near the end of another turbulent year, it’s time to discuss the steps you need to take to reduce your tax burden for 2021 (and beyond). Unlike other years, 2021 presents many unique moving parts to the tax … Continue reading
If you’re a small business owner or a self-employed worker, you may have opted for the self-employment tax deferment benefit offered through the CARES Act. This benefit allowed individuals to defer a certain amount of their Social Security taxes until … Continue reading
Child Tax Credit Monthly Payments Start July 15
On July 15, 2021, the IRS will start sending monthly child tax credit payments to qualifying families around the country. Thanks to the American Rescue Plan Act passed in March 2021, families claiming the child tax credit in 2021 will … Continue reading
Tips for Your E-Commerce Business from a CPA
E-commerce marketplaces popped up in the early 1990s and have been on the rise ever since. In the last decade, there’s also been a surge of businesses leveraging multiple consumer channels to sell their products. Not to mention, traditional brick-and-mortar … Continue reading
In another round of extensions, the IRS recently pushed back the deadline for contributing to individual retirement accounts (IRAs) to May 17—the same day as the income tax deadline. This means that you now have an additional month to build … Continue reading
Reminder: Estimated Taxes for Q1 2021 Still Due 4/15
Although the income tax filing deadline was extended until May 17, 2021, quarterly estimated tax payments for self-employed business owners are still due on April 15, 2021. Tax law requires us to pay taxes throughout the year in a timely … Continue reading
State and Federal Tax Deadline Extended to May 17
The tax deadline has been extended for the second year in a row, giving taxpayers some extra time to file those returns. The IRS and the Massachusetts Department of Revenue announced last week that the income tax filing deadline for … Continue reading
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