The deadline for initial filings under the Corporate Transparency Act (CTA) is right around the corner. On January 1, 2025, millions of privately-owned non-exempt corporations, limited liability companies, and limited partnerships will be subject to new reporting requirements, designed to … Continue reading
Category Archives: Tax Preparation
2 March 2022
Top Tax Considerations for Remote Employees
Return-to-office plans remain in a state of limbo as some employers find that a remote work strategy is a viable option long term. What are the tax implications for businesses in this new scenario? Over the past couple of years, … Continue reading
22 February 2022
What You Need to Know About the Child Tax Credit and Economic Impact Payment Notices
Many of you probably already received IRS Letters 6419 and 6475 containing details about your 2021 advance child tax credit (CTC) payments and economic stimulus payments. Here’s what you need to know about the letters, this year’s CTC refund, and … Continue reading
12 January 2022
Q4 Taxes Due Next Week: Here’s What You Need to Know
We’re coming up on the final estimated tax payment of 2021 next week! Since the standard quarterly deadline of January 15 falls on a Saturday this year, and Martin Luther King Jr. Day will be celebrated on Monday, all self-employed individuals … Continue reading
8 November 2021
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
12 July 2021
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
2 April 2021
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
16 March 2021
What’s in the New Stimulus Package?
The third stimulus package valued at $1.9 trillion made its debut after President Biden signed the relief into law on Thursday, March 11, 2021. The American Rescue Plan brings a new wave of stimulus payments, tax credits, and legislative extensions … Continue reading
The COVID Relief stimulus package signed at the end of 2020 brings good news to businesses looking for additional financial support as they continue to experience interruptions by the pandemic. Recent legislative changes now expand the eligibility for the employee … Continue reading
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