Ouch! Property taxes are on their way up. Here is what you can do to keep your property taxes as low as possible. Market values of homes are skyrocketing and higher property tax bills are soon to follow. Prepare now to knock your property taxes back down to earth.What is happeningProperty taxes typically lag the …
Month: September 2021
Those Pesky Records!
What do I need to keep? Know when to keep or throw out your tax records. Here is what you need to know. Each of us needs to keep records that substantiate our tax return or other important life events for as long as they are needed. So what does this mean? The basic retention …
Tax Planning Insights: September 2021
As states create tax laws to capture revenue from non-resident individuals and small businesses, many are caught unaware of the changing state tax landscape. Make sure this doesn't happen to you. State Taxing Authorities Are Coming After Your Money Laws have been created that snag taxpayers everywhere New state tax laws are making more and …
Client Update Newsletter: September 2021
Now is the time to lower this year's tax bill! Here are ideas to do that PLUS save valuables from thieves. Time to Schedule Your Tax Planning Session Now is the time to schedule a tax planning appointment. If you are on the fence, here are some things to consider: It can make a difference. This …
Reminder: Third Quarter Estimated Taxes Due
Make your estimated tax payment now 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 third quarter due date is now here. Due date: Wednesday, September 15th, 2021 Remember, you are required to withhold at least 90 …
Continue reading Reminder: Third Quarter Estimated Taxes Due
Avoid Tax Traps with Loans to Friends and Family
The IRS assumes you'll charge interest if you make personal loans, even to friends and family. Even if you don't charge interest, you'll owe tax on an assumed rate of interest. Lending to friends and relatives can be tricky, and not only because of the stress it can place on your relationships. There are tax …
Continue reading Avoid Tax Traps with Loans to Friends and Family
Velisa Bookkeeping Services LLC 