Tax News & Updates

Looking for the best tax consultant for you or your business? Every year a little over 33% of all Americans hire tax preparers to help them navigate tax season.  The complexity of the American tax code means that small changes in tax planning or tax strategy can have a huge impact on the final tax bill. A tax consultant needs to be…
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There isn’t an American employee or entrepreneur not interested in reducing their tax burden.  Most taxpayers are willing to pay their fair share of taxes, but no taxpayer wants to pay more taxes than what is legally owed. That’s a big part of why so many taxpayers choose to hire professional tax preparers in the first place.  Working with legitimate tax preparation experts can help taxpayers better navigate the complexity of the US…
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You’re here because you’re wondering: At what point is it a good idea to hire an accountant for  m y business?  Let’s dive in.   How to find out if you need an accountant   If you’re a small business owner, then you might be wondering if you need a business accountant. In this  article, we will outline 7 reasons you might need an accountant. …
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The US economy has taken a considerable hit following the Covid-19 pandemic, which sadly means that millions of people have filed for unemployment. Anyone who falls into this category must be aware of the tax implications here. Knowing whether and to which extent unemployment benefits are subject to taxation can help maximize funds available for living expenses and avoid a large tax bill during tax season.    Unemployment Benefits Are Taxed   Taxation differs according to the state…
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Just before the tax-filing season came upon us, the IRS released a news article warning  everyone  to watch out for ghost tax return preparers.   Of course, they also gave their readers a quick reminder that a paid tax return preparer should have a PTIN (otherwise known as a Preparer Tax Identification Number). According to the IRS, a ghost preparer is…
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Way back in March when the Covid-19 pandemic hit the world, the IRS declared that the federal tax filing deadline would be extended to July 15. This gave taxpayers an automatic 3–month extension.    Taxpayers not ready to file by July 15th can apply for an extension until October 15th. Please remember that this is not an extension to pay, it is simply an extension…
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