The Internal Revenue Service has started sending letters to taxpayers who received advance Child Tax Credit (CTC) payments or the third round of stimulus checks. If you received both or either of these payments, keep an eye on your mailbox and hold onto these IRS letters! They will help you file an accurate income tax return this filing season. Letter […]
New to small business taxes and all they entail? In this article, we’ll cover some of the most frequently asked small business tax questions, such as what you can and can’t deduct on your tax return, how to save for retirement, and more. Let’s dive right in! What small business expenses can I deduct? As a new small business owner, […]
Curious about the business tax deadlines that you should mark on your calendar this tax season? Here’s what small business owners need to know. Deadlines for filing small business tax returns There are different filing deadlines to be aware of depending on what type of business you have. Below are the key tax calendar dates to watch for in 2022. […]
Ever since the U.S. first introduced the Child Tax Credit (CTC) in 1997, Puerto Rican residents with taxable income have been eligible to claim payments for their children — but there was a catch. In previous years, families in Puerto Rico also needed to have at least three children to qualify for the credit. This restriction made only approximately 11 […]
If you received advance Child Tax Credit (CTC) monthly payments last year, you should be getting Letter 6419 from the IRS. This letter details the total advance payments you received last year and lets you know how much of the credit you can still expect to claim when filing your 2021 tax return. However, the IRS recently announced that some […]
People often talk about the tax breaks that come with getting married — but that doesn’t mean unmarried people are out of luck when it comes to getting the most back on their taxes. In fact, there are several reasons why a single filing status may come in handy during tax refund season. To celebrate Singles Awareness Day, we’ve put […]
You worked hard in 2021. It’s time to step back and let our CPAs and tax experts do the hard work for you this tax season. There’s no need to spend time finding a reputable online accountant to do your taxes for you. It doesn’t matter if you are a new home owner, a busy investor, or just don’t feel […]
Filing your taxes for the first time can be intimidating. There’s a good chance you’ve heard people complain about having to file their taxes in the past, so it’s normal to be feeling a little apprehensive. But don’t stress! Filing taxes for the first time isn’t nearly as complicated as you might think. Most first-time tax filers don’t have overly […]
It’s everyone’s favorite time of year — tax filing season. Let’s be real, nobody likes doing their taxes. That’s precisely why many taxpayers opt to pay a tax professional to file their tax forms rather than doing it themselves. Online tax services may be convenient, but many people prefer to have an expert prepare their returns for peace of mind. […]
If you waited several months to receive your tax refund last year, you aren’t alone. In November of 2020, the IRS still had millions of tax returns left to process, meaning millions of taxpayers didn’t get their 2020 tax refunds until almost the end of 2021. We know your tax refund can be one of the biggest checks you receive […]
NO PURCHASE IS NECESSARY TO ENTER OR WIN. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. ALL APPLICABLE FEDERAL, STATE, LOCAL, AND MUNICIPAL LAWS AND REGULATIONS APPLY. VOID WHERE PROHIBITED. PARTICIPATION CONSTITUTES ENTRANT’S FULL AND UNCONDITIONAL AGREEMENT TO AND ACCEPTANCE OF THESE OFFICIAL GIVEAWAY RULES, WHICH ARE FINAL AND BINDING. WINNING A PRIZE IS CONTINGENT UPON COMPLYING WITH THE […]
Changing tax laws can be confusing in the best of times. Add on the complications brought about by COVID-19? Suddenly everything is even more complicated. But there’s no need to sift through endless information online to figure out which tax updates will be relevant to you — we’ve gathered the top seven 2021 tax changes that most taxpayers should know […]
I have no idea how to fill out a W-2, or wait, is it a W-4? We get it. Form W-2 and Form W-4 are very similar – in fact, you can’t really have one without the other. Here’s the difference: Form W-2: This is your income statement from your employer. It shows the amount of money you made working […]
NO PURCHASE IS NECESSARY TO ENTER OR WIN. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. ALL APPLICABLE FEDERAL, STATE, LOCAL, AND MUNICIPAL LAWS AND REGULATIONS APPLY. VOID WHERE PROHIBITED. PARTICIPATION CONSTITUTES ENTRANT’S FULL AND UNCONDITIONAL AGREEMENT TO AND ACCEPTANCE OF THESE OFFICIAL GIVEAWAY RULES, WHICH ARE FINAL AND BINDING. WINNING A PRIZE IS CONTINGENT UPON COMPLYING WITH THE […]
With the holidays just around the corner and the end of 2021 approaching fast, you might be wondering: should I sell my stocks before the end of the year? Maybe you’re looking for a little extra cash to help cover all the money you spent on holiday gifts, or perhaps you simply want to give yourself the gift of a […]
This year, you may want to give back during the holiday season. While you can always donate money to charities year-round, this holiday season you might try donating your stocks instead. By doing your research on donating your stocks to a charity, you can potentially reduce your bill come tax time. The benefits of donating stocks If you want to […]
It’s the season of giving, and you’ve decided to put your money to good use by donating to a good cause. The best part? Your charitable donation could be tax-deductible! Thanks to the extension and expansion of 2020’s Coronavirus Aid, Relief, and Economic Security Act (CARES Act), even more taxpayers are eligible to take advantage of the deduction this year. […]
Holiday shopping for young children can be tricky — especially when you’re shopping for newborns or toddlers who seem to outgrow everything so quickly! If you’re looking for a unique gift that will benefit a child (and their parents) for many years to come, you might consider investing in their future by gifting them a 529 education savings plan. What […]
Small business owners, it’s time to expand your holiday shopping list. You’re not restricted to just buying gifts for your loved ones this year — it’s likely your business could benefit from some end-of-year purchases as well! Timing is everything when it comes to making purchases for your small business and saving on business taxes. But how do you discern […]
Once your last-minute holiday shopping is finally over and all your gifts are accounted for, there’s still one person we often tend to overlook: ourselves. If you have some extra cash left over and are looking for ways to spend it mindfully before the new year, why not consider investing in an IRA? Not only would you be doing your […]