Understanding the Tax Implications of Bonuses Receiving a bonus from your employer is not just a sign of recognition for your hard work; it's also a boost to your income that can have various tax implications. Unlike regular wages, bonuses are taxed under specific rules that you should be aware [...]
To make an INCOME TAX payment for Tax Year 2024... Jump to Direct Pay Or go to IRS.gov, Select Make a Payment, then Pay Now with Direct Pay, Make a Payment Select the Reason for Payment, Type of Tax, and Tax Year as indicated here -> Verify Identity The next [...]
Unlock Savings for Your Business with the Employer-Provided Childcare Tax Credit In today's competitive business environment, offering childcare to employees is not just a perk—it's a strategy. It's a way to attract and retain top talent, improve employee satisfaction, and enhance overall productivity. Recognizing the importance and the challenges of [...]
Essential Guide to Reporting Cryptocurrency and Digital Asset Income on Your 2023 Tax Returns The Internal Revenue Service (IRS) has issued a reminder that all taxpayers must diligently report digital asset-related income when filing their 2023 federal income tax returns. What’s New This Year? The IRS has updated the digital [...]
Understanding the 2023 Tax Changes for Your Business As we step into a new tax year, it's crucial for business owners to stay informed about the latest tax changes and adjustments. The 2023 tax year brings several significant updates, largely influenced by recent legislative acts such as the SECURE 2.0 [...]
2024 Tax Season: What You Need to Know... The IRS has set the stage for a smoother tax filing experience this year, with the season officially kicking off on January 29, 2024. They're expecting over 128.7 million individual tax returns by the April 15 deadline, so it's time to gear [...]
Navigating the 2023 Tax Year: Key Updates for Individuals The 2023 tax year brings several important changes that individuals should be aware of. Staying informed about these updates is essential for effective tax planning and ensuring that you take full advantage of any benefits or adjustments. Adjusted Tax Brackets and [...]
Effective January 1, 2024 Attention small business owners! The landscape of corporate compliance in the United States is set to change significantly with the enforcement of the Corporate Transparency Act (CTA) starting January 1, 2024. This law mandates many U.S. companies to report their beneficial owners - the individuals who [...]
January 15th 2024 is the last day to make an estimated tax payment for 2023. With this deadline looming, it's crucial for individuals and businesses to turn their attention to estimated tax payments. Understanding the implications can help you navigate this process more effectively and avoid potential penalties. Who Needs [...]
As we approach the end of the year, it’s time to focus on the 1099-NEC compliance for the 2023 tax year. If requested, we’re here to guide you through this process to ensure timely and accurate filing. Notify us of your filing intent by email or phone. Why is [...]
