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 …
The Paycheck Tax Tip
A great place to lower your taxes Tip Category: Your Income The tax code has plenty of ways to reduce your taxable income, and many take place on your paycheck. If you haven’t already done so, now is a great time to conduct a thorough review of your paystub. Here are some tips: Review insurance …
IRS Identity Theft Season Begins Now
Now is the time for tax-related identity theft. Be on alert! Tip Category: Miscellaneous Each year thieves try to steal billions in federal withholdings by stealing your identity. As the IRS focuses more attention on this quickly growing problem, now is the time of year to be extra vigilant. Early tax filing season is the …
SMALL BUSINESS ALERT: New Federal Reporting Required
Especially important for new business startups Tip Category: What's New New Beginning in 2024, many small businesses will have to report information about their owners to the Financial Crimes Enforcement Network (commonly referred to as FinCEN), a bureau of the U.S. Department of the Treasury that collects and analyzes information to help fight financial crimes. Here …
Continue reading SMALL BUSINESS ALERT: New Federal Reporting Required
2024 Mileage Rates are Here!
New mileage rates announced by the IRS Tip Category: What's New Mileage rates for travel are now set for 2024. The standard business mileage rate increases by 1.5 cents to 67 cents per mile. The medical and moving mileage rates are now 21 cents per mile. Charitable mileage rates remain unchanged at 14 cents per …
Reminder: Fourth Quarter Estimated Taxes Now Due
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 2023 tax year is now here. Due date: Tuesday, …
Continue reading Reminder: Fourth Quarter Estimated Taxes Now Due
Great Tax Tips to Start the New Year
yes, really some tax tips Tip Category: Planning The old year is ending and the new one is about to start. Here are some tax tips to get you going into the new year with a brighter tax future on your horizon. 1. Review beneficiaries. Now is the time to review beneficiaries in all your …
Babies and Children. Tax Tips Everyone Should Know
Especially parents, grandparents and relatives Tip Category: Deductions For parents, challenges come from every direction – feeding times, car seats, sleep schedules, strollers, child care and of course ... taxes. What most parents do not consider is that these bundles of joy complicate their tax situation! Whether you are a parent, grandparent, or know someone …
Continue reading Babies and Children. Tax Tips Everyone Should Know
Know What the IRS Knows About You
Here is how you can find out... Tip Category: Miscellaneous There are multiple situations where you need to find out what the IRS knows about you. It could be for the purpose of obtaining a loan, filing past year tax returns, or simply getting a copy of tax records for your files. A great place …
Plan Your 2024 Retirement Contributions
Now is the time to plan next year's retirement contributions. Here's what you need to know. Tip Category: Planning As part of your planning for next year, now is the time to review funding your retirement accounts in 2024. Recent cost of living calculations means much higher contribution limits for next year. Plus the higher …
Velisa Bookkeeping Services LLC 