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Year End Tax Planning Issues

Year-end is rapidly approaching as are the holidays. So before you become distracted with the seasonal celebrations, it may be in your best interest to consider year-end tax moves that can benefit you for both 2022…

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NOVEMBER 2022 DUE DATES

INDIVIDUAL DUE DATES: November 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during October, you are required to report them to your…

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WHEN TO HIRE A FRACTIONAL CFO

Every entrepreneur starts their company with their own vision of what the future holds. Maybe you thought you’d just work from a home office, managing every function and loving every minute of it. Maybe you always…

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Electric Vehicle Credit Undergoes Major Overhaul

With the recent passage of the Inflation Reduction Act of 2022, the electric vehicle credit has undergone some major changes.  Although most of the changes take effect in 2023, to qualify for the current credit, vehicles…

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September 2022 Due Dates

September 1 - 2022 Fall and 2023 Tax Planning Contact this office to schedule a consultation appointment. September 12 - Report Tips to Employer If you are an employee who works for tips and received more…

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Life Changing Events Can Impact Your Taxes

Throughout your life there will be certain significant occasions that will impact not only your day-to-day living but also your taxes. Here are a few of those events: Getting Married – If you just got married…

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Inflation Reduction Act

You may have heard that the Senate passed the Inflation Reduction Act on Sunday—and the House is expected to pass it on Friday. What exactly is it, and what does it mean to you? Like most…

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AUGUST 2022 DUE DATES

BUSINESS DUE DATES August 1 - Social Security, Medicare, and Withheld Income Tax File Form 941 for the second quarter of 2022. Deposit or pay any undeposited tax under the accuracy of deposit rules. If your…

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Sold or Thinking of Selling Your Home?

If you sold your home this year or are thinking about selling it, there are many tax-related issues that could apply to that sale. To help you prepare for reporting the sale you may have already…

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Employee Retention Tax Credit

The Employee Retention Credit (ERTC) is a tool that encourages employers to keep employees on payroll during the COVID-19 crisis. The credit is currently available on wages paid to employees between 3/12/2020 and 9/30/2021 for businesses…

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July 2022 Due Dates

July 2022 Individual Due Dates July 1 - Time for a Mid-Year Tax Check-Up Time to review your 2022 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties…

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