How long should you keep your tax documents?
Lots of people have questions about how long they should keep their tax documents, and if you’re among the millions of taxpayers wondering how long you should keep yours, you’re not alone. According to the IRS, the length of time that you should hold onto your documents, including records that support credits or deductions, is […]
What you need to know about the IRS’ pandemic backlog
The COVID-19 pandemic not only impacted people’s lives, in some cases, it also impacted their tax returns. According to a Sept. 2021 report issued by the Treasury Inspector General, the widespread closures of tax processing centers throughout the US led to an unprecedented backlog of tax returns. “As of the week ending December 31, 2020, […]
What You Need to Know About This Year’s Tax Season
This year’s tax filing deadline is just around the corner, and the IRS wants you to be aware of some changes that are specific to this year. The filing deadline has been bumped to April 18 Although April 15 has been the historic filing deadline, this year’s deadline has been bumped to April 18 for […]
What you need to know about extended tax returns
What you need to know about extended tax returns Most people don’t know that the tax filing deadline isn’t set in stone. If you’re unable to file by April 18, you can apply for an extension. What you do need to keep in mind is that if you think that you’ll owe money to the […]
Top 2 Reasons to Hire a CPA in 2022
Tax season is already in full swing—and regardless as to whether you need help with your 2021 taxes if you need help filing an extension, or you have questions about the types of tax planning strategies you can use to lessen your tax burden for next year, you should consider scheduling some time to meet […]
Tax Season Deadlines You’ll Want to Be Aware Of
Tax season is in full swing- and if you haven’t already started preparing for it, you’ll want to get started right away. Below are just a few of the dates and deadlines you’ll want to keep in mind. Most people need to file their taxes by April 18 According to a press statement by the […]
Signs it’s Time to Hire a CPA
Filing your taxes can be an arduous task- especially if you don’t have a straightforward return. If you own a business, have lots of deductions (and/or you have questions about deductions you may be eligible for that you haven’t been taking advantage of), or you have questions about tax planning, it may be time to […]
When should I start prepping for my tax appointment?
Tax season is fast approaching—and it’s never too early to start prepping for your tax appointment. Ideally, you would have started preparing for your 2021 tax appointment at the start of that tax year. When you begin to organize your finances sooner than later, it will make filing that year’s taxes much easier. Consider […]
What Happens if You Forget to File a 1099 Form?
If you’re a self-employed freelancer or you own a small business, you may receive one or more 1099 forms from your clients. As a general rule of thumb, any client that paid you more than $600 for goods or services during the 2021 tax year is required by ghostwriting hausarbeit. You should also keep […]
What is Tax Planning?
No one wants to pay more taxes than they’re legally required to. Suffice to say, if you want to be proactive about being tax-efficient, you’ll want to speak with an expert about tax planning. Simply stated, tax planning involves numerous strategies, such as making requirement account contributions, planning the timing of certain purchases, and making […]