Small business owners often face a steep learning curve. At the start, many have to work as their own social media managers, IT specialists, sales reps, and customer service departments — all on top of their core duties. One of the … Continued
The economic stimulus payments which were sent out this Spring are technically an advance payment toward a 2020 tax credit. What this means is that on your 2020 tax return, there will be a reconciliation of the amount that you … Continued
On March 27, 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This provides some economic relief for individuals and businesses due to the COVID-19 pandemic. Here are some highlights of the CARES Act. 2020 Recovery rebates … Continued
How do I cancel or change the date a payment comes… – Tax Pro Community How do I cancel or change the date a payment comes out on a return I already e-filed? If you scheduled a payment through IRS … Continued
One of the bigger fears that people have is receiving a letter from the IRS which states that they are making a change to their tax return and they owe more taxes. And, there is interest and penalties to be … Continued
Tax season is quickly approaching, but are you ready to file yet? Probably not, as many tax documents have not arrived in your mail box. To get a head start on filing your taxes, here are some tips: Gather information … Continued
In December 2019, new retroactive tax changes were signed into law. This new act, named the Secure Act, affect 2018 tax returns. You may need to amend your 2018 tax return to receive a tax refund due to these tax … Continued
New rules have been established for Required Minimum Distributions (RMDs). Late in 2018, President Trump signed the Secure Act which changes the age for taking RMDs from 70 1/2 to age 72. This only applies to people under age 70 … Continued
If you are a real estate investor, owning many units or just one, there is an important tax law change that affects you. Beginning in 2018, in order to qualify for the Qualified Business Income (QBI) Deduction, you must follow … Continued
