Know the amount of your 2021 Covid related Economic Impact Payment (EIP) Last year there was a lot of back and forth over the amounts you received from the US Treasury for your Recovery Rebate Checks or EIP. The IRS has created a portal to allow you access to the information you need. This portal…
Get the details on your Advanced Child Tax Credit Coming into the 2022 filing season, knowing the details needed to complete your return are very important. Access the Child Tax Credit Update Portal and get access to all you need to know. Watch the above video for tips on navigating the portal site. In addition…
Guest Post by: Bryce Welker The best taxes are the ones you don’t have to pay. Unfortunately, many small business owners are overpaying on taxes by not taking advantage of the many tax breaks, reliefs, and incentives that the government offers. Sure, many small business owners consider tax handling as the most challenging aspect…
Automatic mileage tracking, is that possible? With Automatic, it is now! We are constantly asking clients for mileage to deduct on their tax returns. You know who are you: Realtors, Contractors, Sales professionals, really anyone who gets a 1099. Then you give us the mileage and we ask for…….you guessed it, the mileage log… Yes, I…
Never to early to start planning, beginning with deadlines The IRS filing deadlines are as follows for 2018 returns: Pass-Through Entities S-Corporations and Partnerships Forms 1120S/1065 Due Date: March 15, 2019 Extension Date: September 16, 2019 Corporations C-Corporations Forms 1120 Due Date: April 15, 2019 Extension Date: October 15, 2019 Individuals Personal Forms 1040 / Sched…
This week the US Supreme Court (SCOTUS) announced their decision on the South Dakota v Wayfair case it heard back in April. A little history. The current laws are based off the Quill case that was heard in 1992, which set the standard for physical nexus. That standard is a few years past it’s usefulness…
If you’re a self-employed individual and you requested an extension–heads up! October 16, 2017, is the deadline for filing tax returns for 2016. It is the last day the IRS will accept an electronically filed tax return using forms 1040, 1040A, and 1040EZ. If you file after October 15, you’ll have to mail in your tax…
Ready to hire that 1st employee? Expand your workforce? Keep in mind there are costs you will pay beyond the hourly wage! OK, so your business is growing, you have budgeted $400 a week to pay your new employee. ($10 per hour for 40 hours.) You write that 1st paycheck for $400 and voila, you…
https://youtu.be/rdR_6RxXXFo Most states update their state unemployment tax (SUI) rates annually. You probably received a letter like this one and thought what am I supposed to do with this? Well, you either need to send it you your payroll provider, or update your payroll system to calculate the correct rate. If you are on our…
Make sure you file your annual reports. Florida has a due date of May 1st for annual reports. Keep in mind these are not tax returns and are separate from your state income tax filings. Failure to complete this timely will result in a $400 late fee or worse. The state will dissolve your entity…
