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It’s just about the middle of March. You know what that means! Getting your taxes in order now will save you plenty of time, money, and frustration down the line. Asking your accountant about deductions that you’re eligible for sounds… Read More
Archive for the ‘Tax Information’ Category
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3 Frequently Asked Questions about the W-9 Form
This year’s tax season is fast approaching. The W-9 form is another document that surges in importance around this time. Normally, the deadline for last year’s taxes is April 15. Due to the ongoing COVID-19 pandemic, however, that is bound… Read More
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Tax Receipts: Vital Documentation to Retain or Dispose of As Necessary
Keeping tax receipts sounds pointless. However, it’s much more important to hang onto the documents you’ll need when tax time rolls around. In some cases, there are plenty of copies that you won’t have to keep if they are no… Read More
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3 Reasons to File Your 2020 Taxes Early This Year
It doesn’t seem like it was all that long ago that the last tax deadline was pushed back. Usually, Tax Day falls on April 15, which is the last day you can file your taxes for the previous year without… Read More
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Crucial Tax Forms: Decoding the W-2 Paperwork
Tax season is almost upon us. For many workers, the W-2 form is one of the most important pieces of paperwork that full-time employees will receive from their employers. That said, younger members of the workforce might not understand how… Read More
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Tax Law Update: How 2020 Changed the Landscape of It All
Greetings, loyal readers! Chances are good that you are already thinking about the next tax season. This past year’s deadline was adjusted from April into July due to the COVID-19 pandemic complicating everything about our ordinary lives. There is no… Read More
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3 Reasons to Leave Next Year’s Taxes Up to Your CPA
Taxes are confusing and confounding. That’s why it is essential you leave the heavy-duty job to the professionals — the CPA’s. In fact, there is no better course of action than leaving next year’s taxes up to your CPA. Consulting… Read More
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4 Pressing Tax Questions: Are Unemployment Benefits Taxable?
The tax deadline is typically April 15th. However, due to circumstances beyond our collective control, that deadline was extended this year. Even so, you may be curious about the outlook for 2021. With many workers being furloughed or even laid… Read More
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What is the Employee Retention Credit, and How Does it Work?
There are several coronavirus payroll tax credits available to help employers manage their business during this time. One of these credits is the Employee Retention Credit (ERC). This credit is a CARES Act relief measure and is a fully refundable… Read More
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What is Earned Income and Why Does It Matter?
When you own or work for a business, you receive earned income, but that term doesn’t include all income. Understanding the difference between income that is earned and unearned is essential for determining tax liability and tax credit eligibility. So… Read More