Category: Tax Planning & Compliance

Staying on top of the year’s important tax deadlines can be difficult, but timely filing can save you a fortune in penalties, interest, and stress. Also, due to the Coronavirus pandemic, many traditional filing deadlines have been extended by the IRS to give taxpayers more time to complete their returns....

Time to Schedule Your Tax Planning Session Effective tax planning helps businesses achieve their financial goals and plan for their upcoming needs. In fact, it should lower taxable income, reduce tax rates, provide for greater control of when taxes get paid, and maximize deductions and credits whenever possible Now is the...

Since taking office in January, President Joe Biden has pushed for greater oversight of tax preparers at the federal level. The American Family Plan initiative takes aim at unscrupulous or unqualified preparers and would give the Internal Revenue Service (IRS) greater powers to regulate preparers nationwide. Why is this effort...

Now is the time for a Mid-Year Tax Check Up and Tax Plan Throughout the pandemic, Moskowitz LLP has had the opportunity to exhibit their skill-set in a multitude of ways this past year: guiding clients through the Paycheck Protection Program and Employee Retention Credits, drafting business succession plans, executing...

It’s hard to believe a little over a year ago the COVID 19 pandemic hit everyone. As things slowly turn back to normal, you need to be ready for the normalizing of the tax rules and adjusting to new ones. Here is how you can be prepared. Covid Tax Relief...

Upcoming dates May 9 Mother's Day May 17 Individual income tax returns for 2020 are due May 31 Memorial Day When Are Tax Returns Due for Individuals? Tax day for individual tax returns (i.e., Form 1040) is Monday, May 17, 2021. This is the tax deadline to file your federal...

The advent of the COVID-19 pandemic has resulted in some dramatic changes to the world’s workforce. One of the most profound effects has been the shift from an on-site to a work-from-home economy. One result of this shift is an increase in the number of workers operating as independent contractors....

We all know that regular vehicle maintenance is one of the best ways to protect our investment in our cars; performing a tune-up will extend the life of your vehicle. But what about an annual checkup of your tax liabilities? Something more than merely plugging in the numbers on your...

If you own or operate a small business, you know it takes hard work and attention to detail to make your company successful. But, typically, how much do small businesses pay in taxes each year? And how can you best plan ahead so you’re not caught off guard by a...