IRS warns taxpayers about misleading claims about non-existent “Self Employment Tax Credit;” promoters, social media peddling inaccurate eligibility suggestions

 July 15, 2024

Taxpayers urged to talk to a trusted tax professional, not rely on marketers or social media for tax advice  IR-2024-187, July 15, 2024 WASHINGTON — The Internal Revenue Service issued a consumer alert today following bad advice circulating on social media about a non-existent “Self Employment Tax Credit” that’s misleading taxpayers into filing false claims.…… Read More

Charlene wants you to know the payroll and sales tax due dates for July.

 July 11, 2024

Charlene wants you to know the payroll and sales tax due dates for July.   July 15th Due date for monthly Form 941 payments Due date for monthly and quarterly state withholding filings and payments   July 22nd Since July 20th is a Saturday the monthly & quarterly filings & payments for sales tax and use…… Read More

More information about the Beneficial Ownership Information filing

 July 8, 2024

Dear Client: The Corporate Transparency Act (CTA) is upon us. It takes effect on January 1, 2024, and imposes a new federal filing requirement for most corporations, limited liability companies (LLCs), and other business entities. Corporations, LLCs, and other entities subject to the CTA are called “reporting companies.” People who form new reporting companies must…… Read More

Kelly wants you to know the top 4 red flags for an IRS audit.

 February 15, 2024

As Americans file returns this season, some worry about IRS audits amid agency efforts to ramp up service, technology and enforcement. Recent IRS enforcement has targeted high-income individuals, large corporations and complex partnerships. But everyday filers could still face an audit — and certain issues are more prone to IRS scrutiny, experts say. Read More… https://www.cnbc.com/amp/2024/02/13/here-are-some-of-the-top-red-flags-for-an-irs-audit-tax-pros-say.html… Read More

Kelly wants you to know about the IRS requesting Crypto information.

 January 25, 2024

The Internal Revenue Service has revised the question it has asked in recent years about income from digital assets such as cryptocurrency on the Form 1040 for individual taxpayers this tax season and added it for the first time to tax forms for estates, trusts, partnerships and C and S corporations. “At any time during… Read More

Kelly wants you to know services we provide in addition to just tax preparation:

 January 11, 2024

Estate, Gift, and Trust assistance Business Owner Tax Planning Tax Bracket Maximization Social Security Advice and Maximization Executive Compensation Planning Charitable Giving Planning Family CFO Planning Changing Domicile Saving for College Real Estate Investment Planning Personal Financial Planning   We usually schedule these type of meetings after April 15th, but will tackle them during tax… Read More

Laurie wants you to know when electronic filing starts this year

 January 9, 2024

Tax filing season will officially begin on Monday, Jan. 29, 2024, the Internal Revenue Service said Monday. While that will be the day that the IRS begins accepting and processing returns, we can start submitting before that date. Our software will hold the electronic return submission until IRS is ready to start processing.… Read More