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, …
Tax & Business Newsletter: April 2022
This year is your final chance to take advantage of 100% bonus depreciation if you purchase equipment or property for your business! In this month’s newsletter, review the tax benefits of using bonus depreciation and determine if it fits your situation.Also read about small changes you can make that can lead to big gains in …
Tax Day is Here! – Last-minute details, tips and freebies
Tax day is here! If you owe taxes, remember to make the payment by the end of the day Monday, April 18. With the individual tax-filing deadline on Monday, April 18, now is the time to complete all filing arrangements and payments. If you have not already done so, ask yourself these questions before it’s …
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Tax Planning Insights: April 2022
Reviewing who receives your assets when you die requires annual review. Here's Why. The Importance of a Beneficiary Review - Now!It's easy to lose track of beneficiaries you've assigned to your key accounts and other important documents. Should something happen to you, this situation can create a mess. The press is filled with examples of …
It’s Tax Time! Estimated Taxes are Due. – Now is the time to file your taxes and make your estimated tax payment.
Time to make an estimated quarterly tax payment! Both your individual tax return AND first quarter estimated tax payment are due by Monday, April 18th. Here is what you need to know.First quarter due date: Monday, April 18, 2022The estimated tax payment ruleYou are required to withhold or prepay throughout the 2022 tax year at …
Client Update Newsletter: April 2022
April is tax month! Included this month is a fun state tax quiz. In addition, there are answers to common tax questions received this month plus lots of great money management tips. Welcome to tax month! Perhaps welcome is not quite the right word, but to help lighten the mood, included in this month's newsletter …
April Fools! You’ve Been Scammed.
Great tips to identify scams BEFORE they happen In honor of the traditional day of practical jokes and harmless antics, instead of chasing the hottest new tax scam, why not arm yourself with traits that will help identify even the most recent version of them. Here is what you need to know:You are a targetWhile …
Toss This. Not That. –
Your guide to post tax-filing record retention The ensure you're ready for an audit, tax returns should be kept indefinitely and supporting documents should be kept a minimum of three years. Before you close this year's tax file there is still some work to do. If the IRS or state revenue department selects your return …
Homeowner Alert! Review Your Tax Forms
New tax rules are creating confusion New rules for deducting mortgage interest are causing confusion and adding additional documentation. It's more important than ever to understand the numbers on your tax forms. Home-related tax rules changing over the past few years have caught some taxpayers by surprise. When your mortgage company reports tax-related information to …
Do You Need to File a Tax Return? – Getting this wrong can cost you
One of the more common tax questions is whether you need to file a federal tax return this year. The answer is: it depends. But not filing a tax return when you should can cost you plenty. Here are some quick tips to help you determine your answer.• Income thresholds matterIf your gross income is …
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