Category Archives: Tax Return Preparation
Tips for Small Businesses When Filing Employment Tax Returns
There are two forms commonly used by small businesses when filing employment tax returns, one of which requires the payment of employment taxes on a quarterly basis, while the other involves payment once a year. The two forms aren’t interchangeable and taxpayers should be sure to always file according to their designated requirement, or… Read More »
Tax Filing Season Begins in February
For most of us, it seemed like 2021 couldn’t come soon enough. However, with the new year come additional hurdles, including tax season, which officially starts February 12th, when the IRS will begin accepting and processing 2020 tax returns. While tax season typically begins in late January, this year, the IRS has decided to… Read More »
Preparing to File Next Year’s Tax Return
While tax season may still seem relatively far off, taxpayers are still being encouraged to take certain steps to prepare for the 2021 tax filing season, including gathering tax-related documentation and checking their ITINs. To learn more about the things that you can do to make the tax return filing process easier, please call… Read More »
What You Should Know About the Home Office Deduction
The home office deduction is only one of a number of different deductions and credits that allow self-employed taxpayers to save money come tax season. With more people working from home than ever, a thorough understanding of these deductions has become critical for many taxpayers, so if you have been working from home and… Read More »
Tax Relief Offered to Retirement Plan Participants Affected by COVID-19
Earlier this year, Congress enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provided economic relief to millions of Americans who have been affected by the COVID-19 outbreak, including enhanced access to plan distributions and loans for qualifying taxpayers. Determining whether a person is eligible for relief under this law can be… Read More »
Complying with the Extended Tax Filing Deadline
Now that the July 15th tax filing deadline has passed, taxpayers who have not yet filed their 2019 federal tax returns should start thinking about their electronic filing options. These are uncertain times and it may be even more difficult for some taxpayers to remain in compliance with federal tax law than usual, so… Read More »
Tax Exempt Organizations Required to E-File Under New Law
On July 1st, Congress enacted the Taxpayer First Act, which requires certain tax exempt organizations to file information returns and related forms electronically. The new law went into effect this year, so taxpayers who believe that its terms could apply to them this tax season, should be careful to review the law and if… Read More »
The Benefits of Using Direct Deposit this Tax Season
As tax season looms ever nearer, taxpayers should begin thinking about using direct deposit to receive their refunds, as this option allows funds to be deposited directly into either a checking or savings account. In fact, it is even possible for a refund to be deposited into one, two, or three different accounts. To… Read More »
Why You Should Consider Applying for Federal Tax Credits
With tax filing season just around the corner, Florida taxpayers may want to begin thinking about their eligibility for certain tax credits, including the Earned Income Tax Credit, the Child Tax Credit, and education credits. For help determining whether you and your family qualify for any of these tax credits, please contact dedicated Florida… Read More »
Preparing to File Your 2019 Federal Income Tax Return
With tax season only a few months away, the IRS has begun encouraging taxpayers to begin taking certain steps to ensure that their 2019 returns are processed as smoothly as possible. This includes adjusting tax withholding, making estimated tax payments, and gathering documents and tax records, all of which can be difficult, especially for… Read More »
