There are various types of tax return preparers, including certified public accountants, enrolled agents, attorneys, and many others who don’t have a professional credential. You expect your preparer to be skilled in tax preparation and to accurately file your income tax return. You trust him or her with your most personal information. They know… Read More

For small business owners, tax season can be a less-than-exciting time of the year. However, one incentive can make filing taxes a little more bearable, and that would be tax deductions. Don’t miss out on potential savings by not taking advantage of all of the possible deductions!   What Are Tax Deductions? Tax deductions are incentives that… Read More

The Internal Revenue Service reminds taxpayers to double-check to make sure they have all of their tax documents, including Forms W-2 and 1099, before filing a tax return. The IRS reminds taxpayers that many of these forms may be available online. When other options aren’t available, taxpayers who haven’t received a W-2 or Form 1099 should contact… Read More

Electronically filing a tax return reduces errors because the tax software does the math, flags common errors and prompts taxpayers for missing information. It can also help taxpayers claim valuable credits and deductions. Using a reputable tax preparer – including certified public accountants, enrolled agents or other knowledgeable tax professionals – can also help avoid errors. The IRS urges… Read More

Errores comunes y costosos que contribuyentes deben evitar al preparar declaración de impuestos. La presentación electrónica de una declaración de impuestos reduce los errores porque el software de impuestos hace las matemáticas, marca los errores comunes e indica a los contribuyentes si falta información. También puede ayudar a los contribuyentes a reclamar créditos y deducciones… Read More

The IRS has issued IR-2021-38, which states that all legally permitted first and second round economic impact payments (EIP) have been issued. The IRS notes that some second round EIPs may still be in the mail. Get My Payment was last updated on Jan. 29, 2021, to reflect the final payments and will not update again for first… Read More

The IRS informs taxpayers that they must report their gig economy income on their tax return. In 2020, many people joined the gig economy to help make ends meet during the pandemic. Whether it’s a side business or a primary source of income, all taxpayers need to understand how their gig work affects their taxes.… Read More

The IRS has announced that  eligible educators  can deduct  unreimbursed expenses for COVID-19 protective  items to stop the spread of COVID-19 in the classroom . Click here for an expanded list of protective items that qualify for the tax deduction. Please also refer to IRS Rev Proc 2021-15 for more detailed  information. Our tax firm… Read More

Consejos para ayudar a personas a elegir un preparador de impuestos de buena reputación Hoy el IRS presento el consejo trinutario 2021-14SP. Ya sea que los contribuyentes usen regularmente a un profesional de impuestos para ayudarlos a presentar una declaración de impuestos o decidieron trabajar con uno por primera vez, es importante elegir un preparador de… Read More

Today the IRS has posted Tax Tip 2021-13 listing the reasons taxpayers should file a 2020 federal tax return and why e-file is the best method of filing. Among the reasons: To claim a refund of taxes withheld, to claim certain tax credits line the earned income credit , the recovery rebate credit and others.… Read More