Category: Tax Planning & Compliance

With 2021 well underway, tax day is quickly approaching. Tax time can be stressful and confusing, but it doesn’t have to be. Here are some quick facts and key dates to keep in mind so you can make informed decisions about filing your return and avoid missing the tax filing...

This year you may have received Notice 1444 because you received an economic impact payment (EIP), commonly known as a “stimulus payment". Notice 1444 is sent to each stimulus recipient within 15 days of the IRS issuing payment. The notice includes the following: The amount of the payment; An IRS...

With tax time rapidly approaching, you’re probably already starting to organize your tax documents from last year. And if you’re like most of us, tax time can be stressful. But for some businesses—including Amazon, General Motors, and Chevron—preparing a return doesn’t necessarily mean owing (or paying) income taxes. Last year,...

Is Your Pension Plan Fully Funded? Plan Your 2021 Retirement Contributions Did you know that there are over twenty-four (24) types of pension plans? Part one of this post will discuss the 2021funding contributions for the most common plans: SIMPLE IRA, 401Ks, and IRAs. Part two of this post will...

Few challenges can seem more daunting than trying to make sense of your tax obligations. But understanding IRS filing deadlines can help you or your business stay on track while avoiding potentially costly fees and penalties. With 2020 coming to a close and the new year quickly approaching, this is...

It’s every taxpayer’s nightmare—receiving a tax audit notice from the IRS. If you’re among the less than 1% of filers who receive a tax audit letter each year, don’t panic. An audit notice doesn’t mean you’re being accused of a crime or that you owe additional tax. There are many...

Businesses have unique opportunities to lower tax burdens for themselves and their owners/shareholders. The end of the calendar year is the perfect time to look forward and to make plans to meet your business goals. 6 End of Year Tax Planning Considerations for Businesses: Did You Place Qualified Improvement Property...