What to do if you miss a quarterly estimated tax payment Tip Category: Miscellaneous Many clients like to keep their Federal Tax withholdings as low as possible to avoid the IRS having their funds interest-free throughout the year. Other taxpayers, especially those with non-payroll income, must make quarterly payments to the IRS. As long as …
Category: Miscellaneous
How to Reduce Your Property Taxes
Ouch! Property taxes are on their way up. Here is what you can do to keep your property taxes as low as possible. Tip Category: Miscellaneous 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 happening …
Where’s My Refund?
My tax return is filed... where is my refund? Here's how to find out. Tip Category: Miscellaneous The popular Where’s My Refund feature on the IRS website allows you to see the status of your refund after filing your income tax return. What you should know Refunds of e-filed returns usually take 10 to 21 days to …
Tax & Business: March 2023
A part-time employment strategy could reap great rewards for your business if you plan appropriately. Here are some suggestions. Also read about effective reporting for effective management. Many businesses are turning to part-time employees to help fill open positions. Adding part-timers to your team, though, is easier said than done. In this month's newsletter, read …
Rejected!
What to do if your e-filed tax return is rejected by the IRS Tip Category: Miscellaneous More than 90% of individual tax returns are now filed electronically, and usually the process goes smoothly. When an e-filed tax return is rejected, however, e-filing can become more complicated. Common causes for rejected tax returns Simple filing errors. Most …
Those Darn Kids
The risk of having kids file their own tax returns There are benefits and pitfalls to having children file their own tax return. And YOU need to know them. Tip Category: Miscellaneous If you have children younger than 19 years old (or 24 if a full-time student), you should coordinate the filing of their taxes …
Reasons to File Early
When it makes sense to file a tax return as soon as you can Tip Category: Miscellaneous The 2022 tax filing season officially begins when the IRS starts accepting tax returns in late January and early February. There are many reasons to consider filing your tax return as soon as the IRS begins accepting returns. …
Reminder: Fourth Quarter Estimated Taxes Now Due
Now is the time to make your estimated tax payment Reminder: Q4 estimated tax payment is due Tuesday, January 17, 2023. 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 …
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Consider Donating Appreciated Stock & Mutual Funds
There is still time to take advantage of what many consider the best tax saving idea in the tax code. Here is what you need to know. Tip Category: Miscellaneous One way to reduce your tax bill this year is to donate appreciated stock to a charity of your choice versus making a cash donation. …
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Don’t Run Afoul of the IRS’s Nanny Tax
The IRS is enforcing Nanny Tax rules that regulate whether a domestic worker you pay is considered a contractor or employee. Tip Category: Miscellaneous The IRS is more strictly enforcing rules that determine whether a worker is actually your employee, rather than an independent contractor. So be careful if you regularly pay a gardener, housekeeper, …
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