Frequently Asked Questions
Please refer to this list to help you find answers to those frequently asked questions by most of our clientele. And of course, if you have any questions not covered here, don’t hesitate to reach out to us!
The deadline for filing your personal tax return is April 15, 2022
The deadline for filing your corporate tax return is March 15, 2022
In reality, there are many types of expenses that are deductible. In general, they must be both “ordinary” and “necessary” to the business. Contact us today for more information!
We offer a wide variety of services, ranging from payroll, taxes, accounting, consulting, and QuickBooks training. Click on any of the tabs above for more information.
It is essential that you keep good records of everything and remain organized! This in itself can resolve many issues and save you a lot of time.
Donations to charitable organizations are indeed tax deductible. They MUST be made to a registered 501c3 organization. For your records, ensure that you always have a receipt and again, keep good records!
No, this is a popular scam. The IRS will not call, they would only send you a notice by mail.
Estimated tax payments are a way to “Pay As You Go So You Won’t Owe”. Many taxpayers can avoid the necessity of making estimated tax payments by increasing their withholding. Form W-4 Employee’s Withholding Allowance Certificate
The IRS Withholding Calculator is an IRS.gov tool designed to help you determine how to have the right amount of tax withheld from your paychecks. People with more complex tax situations should use the instructions inPublication 505. Most taxpayers will avoid the extimated tax penalty if they owe less than $1000 in tax after subtracting their withholdings and credits, or if they paid at least 90% of the tax for the current year, or 100% of the tax shown on their return for the prior year, whichever is smaller.
Individuals can use Form 1040-ES to figure estimated tax. Then make estimated tax payments timely and in the appropriate amounts at www.IRS.gov/payments