As we approach the 2025 “tax cliff,” future tax policy remains a pressing focus for individuals. With election results in, the direction of upcoming legislative changes is beginning to take shape, providing a clearer framework for strategic decisions. However, tax … Continue reading
Category Archives: Tax Tips
20 November 2024
Year-End Tax Planning for Individuals
10 March 2024
Launching a New Company or Need a New Business Structure? The Differences Between LLCs, C Corps and S Corps
As you meet with your accountant this tax season and consider the swirling number of legislative changes over the past few years, you may be looking at your business with a fresh set of eyes and realizing that it may … 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
15 November 2021
Year-End Tax Planning for Businesses
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
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
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
4 May 2021
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
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
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