Reconciling Your Advance Child Tax Credit Payments on Your 2021 Tax Return When you file your 2021 tax return during the 2022 tax filing season, you will need to compare: The total amount of the advance Child Tax Credit payments that you received during 2021; with The amount of the Child Tax Credit that you… Read More

The IRS encourages taxpayers to research charities before donating and to familiarize themselves with the expanded tax benefits that may come with giving to causes that mean something to them. Taxpayers may be able to deduct donations to tax-exempt organizations on their tax return. As people are deciding where to make their donations, the IRS… Read More

What small business owners should know about the depreciation of property deduction Depreciation is an annual tax deduction that allows small businesses to recover the cost or other basis of certain property over the time they use the property. It is an allowance for the wear and tear, deterioration or obsolescence of the property. Small… Read More

WASHINGTON — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2022 has increased to $20,500, up from $19,500 for 2021 and 2020. The IRS today also issued technical guidance regarding all of the cost of living adjustments affecting dollar limitations for pension plans and other retirement-related… Read More

The right to retain representation Taxpayers have the right to retain an authorized representative of their choice to represent them in their dealings with the IRS. Taxpayers have the right to seek assistance from a Low Income Taxpayer Clinic if they cannot afford representation. This is one of the fundamental rights of all taxpayers as… Read More

Hay muchas razones por las que el dueño de un negocio puede optar por cerrar sus puertas, y hay muchas cosas que se deben hacer para quebrar. Dos pasos importantes que todos los dueños de negocios deben tomar son cumplir con sus responsabilidades tributarias federales e informar al IRS de sus planes. La página Cerrar un… Read More

Familias ahora reciben pagos de octubre del Crédito tributario por hijos; todavía hay tiempo para que familias elegibles se inscriban para recibir pagos WASHINGTON — El Servicio de Impuestos Internos y el Departamento del Tesoro anunciaron hoy que millones de familias estadounidenses comenzaron a recibir su pago por adelantado del Crédito tributario por hijos (CTC)… Read More

Business Taxes: Save your business more per year on taxes and get the largest possible refund. Get advice, protect yourself from audits and file your business taxes with confidence. Payroll: Running payroll  is easy with experts on our team. Get the assistance you  need to process payroll and ensure your business stays IRS-compliant. Bookkeeping: Having… Read More

FBAR extension deadline nears for foreign bank, financial account holder. We remind  clients that the extension deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is Oct. 15, 2021. Filers missing the April 15 annual due date earlier this year received an automatic extension until Oct. 15, 2021, to file the… Read More

Contribuyentes que no califican para Crédito tributario por hijos deben considerar Crédito por otros dependientes El Crédito por otros dependientes es un crédito tributario disponible para contribuyentes, para cada uno de sus dependientes calificados, que no pueden ser reclamados por el Crédito tributario por hijos. El monto máximo de crédito es de $500 por cada dependiente que… Read More