• Can't pay

    Can’t Pay by the Due Date?

    DO YOU OWE TAXES AND CAN NOT PAY BY THE DUE DATE?   The vast majority of Americans get a tax refund from the IRS each year, but what if you are one of those who end ends up owing? The IRS encourages you to pay the full amount of your tax liability on time…

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  • Tavel

    Working Out of State

    Employees Working out of state   Some employees are still working at home and will keep doing so in the future. If you have employees working out of state, this can create additional tax and payroll challenges. State income tax withholding for employees   When it comes to payroll tax withholding, state withholdings primarily follows…

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  • Use Caution with Monthly Child Tax Credit

    Use Caution with Monthly Child Tax Credit   Tax professionals are urging clients to decline receiving monthly payments of the child tax credit.   Use caution when opting into the monthly child tax credit. Individuals could end up having to pay that money back. The 2021 American Rescue Plan increased the benefit and directed the…

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  • Fraud on the Rise

      According to a report released in September by the Association of Certified Fraud Examiners (ACFE), experts have noticed a rise in fraud this year due in large part to the COVID-19 pandemic. Professionals are seeing fraud increases in nearly every category. The largest growth was in insurance, loan and bank, financial statement, identity theft,…

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  • Defer Payroll Tax

    Defer Payroll Taxes? Here’s What It Means.

      The President’s action to defer payroll taxes: What does it mean? Stay up to date on payroll tax and deferments! President Trump issued a memo regarding deferring payroll tax obligations on August 8, 2020.  This memorandum directs the Treasury Secretary to defer the withholding on employee FICA and Medicare, and the employer deposit and…

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  • Tax filing

    Prevent Tax Bill Overlap

    Don’t Procrastinate, File Now to Prevent Tax Bill Overlap   With the new tax return deadline of July 15, 2020, many Americans felt relief and possibly pushed tax prep to the bottom of their to-do list. All week we’ve been sharing why waiting until July 15 may not be the decision for you, the taxpayer.…

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  • Don’t Wait To Know What You Owe for Taxes

    Don’t Wait To Know What You Owe for Taxes   In 2018, 56% of US taxpayers had additional money owed for taxes. At this rate, roughly one out of every two tax filers paid more money to the government at tax time. With over a 50% chance of owing on your taxes, don’t set yourself…

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  • Don’t Just Sit There! Start Getting More Tax Refund Now!

      Don’t Just Sit There! Start Getting More Tax Refund Now!   You are home for an undetermined amount of time. Use it to gather your tax receipts and deductibles for more return on your tax refund. On average, Americans will spend 7 hours a year assembling, organizing, and planning for their tax return. Many…

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  • Tax Filing. July 15th? Let’s Talk.

    Tax Filing. July 15th? Let’s Talk.   On March 21, the Treasury Department and Internal Revenue Service announced a tax filing and tax payment deadline extension until July 15, 2020. Now what? Hint: It doesn’t mean tax filing should go to the bottom of your to-do list. On the one hand, the extension that resulted…

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  • Audit Within Your Small Business

    Why Is My Small Business Under Audit?   Ever wonder why YOUR small business was targeted for an audit. See below the top reasons why you might have been a candidate. As a small business owner you are 4 times more likely to be audited than a W2 wage earner. How are you chosen to…

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