This is one of our most frequently asked questions from our business customers. Holiday time is the best time of the year to meet with your customers and spread the holiday cheer. Even better, if you can deduct those expenses as a tax deduction. As per the new 2018 Tax Cuts and Job Act (TCJA),Read more about Are office holiday parties tax deductible?[…]
With the 2018 changes in the tax law, there are many tax saving opportunities for your business and family. We define tax planning under three key steps : Identifying key areas or Diagnostic test: This step is the process of identifying areas/ sources of income that may require you to pay the highest amount ofRead more about Benefits of tax planning[…]
Individual Retirement Arrangements (IRA) An IRA account is a tax-favored personal savings arrangement for your retirement. There are two popular types of IRAs, traditional and Roth IRA. An IRA can be set up with the bank or any financial institution. Traditional IRAs The contribution limits to IRAs for those under the age of 50 inRead more about IRAs-Individual Vs Roth IRA and how they can help you save taxes?[…]
Where is my tax refund? You can get information about your refund within 72 hours after an acknowledgment has been sent by the IRS to you. Most refunds are processed within 21 days. Filing online & electronically is the fastest way to receive status on your tax refunds. You will require the following informationRead more about Where is my tax refund?[…]
Happy and excited to receive a big tax refund check, think again… That’s because receiving a big tax refund is actually a bad thing… A big tax refund indicates you are paying too much in taxes…. The # 1 mistake which most taxpayers make is overpaying taxes. A big tax refund signals unplannedRead more about Happy to receive a big tax refund, think again…[…]
Who can you claim as a dependent on your tax return? This is the most important question on every taxpayer’s mind at the time of tax filing. So, below are few basic rules for adding dependents on your tax returns : There are 2 types of dependents who may be claimed on your taxRead more about Who can you claim as a dependent on your tax return?[…]
***The below guidelines are applicable if you have not yet received your original W2 or a corrected W2 has not yet been received by the tax filing deadline. Most employers would have already mailed out W2 forms to their employees. If your employer is out of business or if you did not receive your W2Read more about Here’s what you can do if you do not receive your W2 past February[…]
It is very easy to check the status of your refund online via the IRS website. Please check the following link https://www.irs.gov/refunds. Frequently asked questions about tax refunds How long are the processing times for paper filed and electronic tax returns? As per IRS website the normal processing may take as long as three weeks. MostRead more about How to check status of your 2018 tax refund ?[…]
IRS refund schedule 2018 One of the most frequently asked questions during the tax season to a tax preparer is ‘ when will I receive a tax refund check’. While the processing times may vary, IRS has issued general guidelines on refunds. It is usually 21 days from the date it is received. ForRead more about When will I receive tax refund check? IRS refund schedule 2018[…]
Stock brokers, lenders and employers will start sending you the tax forms and statements by January 31st. The Internal revenue service (IRS) gives companies time until January 31st to mail out these statements. Many currently send it out electronically instead of postal mail. The following are the mostly common tax forms that you should expectRead more about Tax forms you should expect to receive by January 31st, 2018[…]
