Your business must prepare for new reporting requirements if you accept credit cards, debit cards, or use third-party payment processors like PayPal, Venmo or Stripe. Here is what you need to know. New tax laws usually mean more work for you preparing future tax returns, and this year is no different. In this month’s newsletter …
Month: June 2022
Tax Planning Insights: June 2022
If you're interested in minimizing your tax obligations and maximizing your savings, consider the helpful tips and ideas you'll find in this newsletter. Call if you would like to discuss how any of this information relates to you. If you know someone that can benefit from this newsletter, feel free to send it to them. …
Client Update Newsletter: June 2022
The last thing you may want to do during the summer is start thinking about your 2022 tax return! The best way to lower your tax bill for next year, however, is to start looking for tax cutting strategies as soon as possible. In this month’s newsletter, read about some tax planning tips to help …
NON-Retiree Retirement Ideas
Want money when you retire? Here are some tips. Here are five common retirement planning ideas and what you can do to take advantage of them. The key is retirement planning starts now, not decades from now when you are reaching retirement age.1. Having a planSurprisingly, most do not know how much money is needed …
I’m Being Audited by the IRS!
Less than 1% of more than 145 million individual tax returns filed during 2021 will be selected for audit. The percentage increases for higher income taxpayers, along with tax returns in areas of specific interest to the IRS. Here's what you should remember if you receive a notice from the IRS of an impending audit:IRS …
Reminder: Second Quarter Estimated Taxes Are Due
Now is the time to make your estimated tax payment 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 second quarter due date is now here.Due date: Wednesday, June 15, 2022You are required to withhold at least …
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Understanding Tax Terms: Pass-through Entities
What everyone should know Small business owners have a number of options on how to organize their business for tax purposes. And if you sell items on eBay or Esty, drive for Uber, or offer your services as a writer or programmer, you are probably considered a flow-through entity in the eyes of the IRS. …
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