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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 …
Continue reading Reminder: Second Quarter Estimated Taxes Are Due
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. …
Continue reading Understanding Tax Terms: Pass-through Entities
Lots of tax law changes this year! Read on to find out more. Here are some key changes to the tax code for 2022. Use this information to help manage your tax obligation, a practice that can pay rich benefits if reviewed throughout the year. Tax brackets and rates While there is much discussion in …
Now is a great time to give your business a financial spring cleaning. Here are some ideas. Also read about mitigating potential legal, financial and regulatory risks with an email policy. In this issue:Protect Your Business with a Smart Email PolicyFinancial Spring Cleaning for Your Business
Students! Have a summer job? Will you make less than $12,950 in 2022? Claim EXEMPT on your Form W-4 to prevent federal taxes from being withheld on your paycheck. Summer brings warm weather, fun outdoor activities, and new opportunities to earn some additional income. However, taxes on seasonal income need to be handled with care, …
Avoid tax surprises with a simple review With tax season in the rear view mirror, now is the time to take a hard look at your federal and/or state withholdings to ensure next year's tax bill does not surprise you.A review is more important than everThere are a number of tax code changes that will …
MUST READ if using digital payment tools or reselling tickets A recent tax law change by this edition of Congress now requires transaction reporting to the IRS for anyone receiving more than $600 in payments through digital payment tools like PayPal, Venmo, and Cash App. It also impacts anyone using transaction platforms to buy or sell …
Virtual transactions are triggering more tax filings than ever. Plus understanding taxation of summer jobs and avoiding hidden fees that can destroy your vacation! Here is what you need to know With tax season now in the rear view mirror for most of us, it’s time to start thinking about how to minimize your taxes …
It may be best to bundle several years of charitable deductions into one year to get the most tax savings. Your charitable contribution deductions are still a great tax savings tool, but they now require more planning. Now is a great time to look at this area as part of your tax planning exercise.BackgroundTypically, cash …
Continue reading Maximizing the Tax Benefit of Charitable Deductions
The average refund is nearly $3,000 and takes about three weeks to arrive if you e-filed. Track its progress to your bank account by visiting http://www.irs.gov/refunds. If you’re getting a refund, here are four useful tips to know.1. The average refund is more than $3,500. Through February 18, the IRS reports the average refund is $3,536, …
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