Velisa Bookkeeping Services, a dedicated and reliable Accounting and Tax firm, serving Maryland since 2017.
Now is the time to make your estimated tax payment Tip Category: Miscellaneous 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 4th quarter due date for the 2024 tax year is now here. Due date: Wednesday, January …
Continue reading Reminder: Fourth Quarter Estimated Taxes Now Due
PLUS: Small Business Judicial ALERT Update Tip Category: Miscellaneous As a reminder, tax season is also tax scam season for savvy criminals. As you prepare to file your tax return, here are some things to know to reduce your risk of having your valuable personal information stolen. These tips are provided by the IRS and other …
Tip Category: Miscellaneous Each year the IRS publishes the top dozen tax scams it encounters over the prior year. One of them that makes an all too common appearance on their list is the phishing scam. Here is what you need to know. Phishing requires bait Phishing is the act of creating a fake e-mail or …
What do I need to keep? 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 period. Federal tax return substantiation is generally three years from the later of the tax return filing due …
Covering the bases on basis Tip Category: Miscellaneous Basis is a common IRS term, but probably does not enter into your everyday conversation. This IRS term is important because it impacts the taxes you pay when you sell, exchange or give away property. What basis is The IRS describes basis as: The amount of your …
Tip Category: Miscellaneous Mention the word IRS and everyone's blood pressure tends to go up a bit. Unfortunately, thieves know this too and often use the IRS as a threat to get you to fall for their latest scam. Every year the IRS mentions their dirty dozen tax scams and repeatedly tries to keep us all …
Now is the time to pay your taxes AND make your estimated tax payment. Tip Category: Miscellaneous Both your individual tax return AND first quarter estimated tax payment are due. Here is what you need to know. First quarter due date: Monday, April 15, 2024 The estimated tax payment rule You are required to withhold or …
Continue reading It’s Tax Time! Don’t Forget 1st Quarter Estimated Payments.
What you should know Tip Category: Miscellaneous If you e-file your tax return, you can generally expect to receive your refund within three weeks of it being accepted by the IRS. Expect four or more weeks if you mail in your tax return. But delays can happen. Refund Delays: The common culprits These are the …
Time is short to file your S corporation or partnership tax return. The due date is March 15. Here's why you need to file on time. Tip Category: Miscellaneous March 15th is the tax-filing due date for 2023 calendar year S corporations and partnerships. While this filing deadline does not require making a tax payment, missing …
Review these common causes of filing delays Tip Category: Miscellaneous Double-check this list of items that often cause delays with both filing your tax return and getting your much anticipated refund. Missing W-2 or 1099. Using last year's tax return, make a list of W-2s and 1099s. Then use the list to ensure they are received …
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