June isn't just a time for soaking up the early summer sun; it's the most popular month for couples to get married. About 10.8% of engaged couples will set a date sometime in June, which edges out August for the most wedding-saturated month of the year. Whether you’re having a small or large ceremony, a reception for 20 or 200, you have likely been making plans for months or even years. In the midst of all the excitement, you probably won’t be thinking about your tax filing status. When tax time rolls around next year, here’s the information you’ll need regarding how tax filing status changes for married couples.
The April tax deadline is looming. If you haven’t filed your taxes yet, you may be debating whether to hire a CPA or do them yourself. If you do decide to engage a professional, must they be a CPA? Knowing when the time is right to bring in a CPA can help you run your business more successfully. So… when do you need to hire a CPA for tax preparation?
Love it or hate it, tax time is looming large. (Not that we think many of you love it, unless of course you’re receiving a tidy sum in a refund). All through the winter, and into spring, you try to stop thinking about it (or you've completely forgotten), but the deadline is drawing very near. You are supposed to get your taxes filed before the 18th of April, and there's no time left to tip-toe around the topic. With just days to go, tax time is truly upon us! Do you need an extension?
Three kinds of taxpayers are doing their taxes incorrectly: those who are waiting for a refund, those who are dreading doing their taxes, afraid of owing as much as they did in the prior year, and those who have actually haven't got a clue as to what their taxes will look like once the dust settles. What they all have in common is insufficient planning, and each of them should take time to sit down with a Certified Public Accountant (CPA) and start planning for next year - because good tax planning never leaves money on the table.
“Preparedness is the ultimate confidence builder” – Vince Lombardi
The time for reporting income taxes is here once again. For many, it’s a time of high anxiety, but it doesn’t have to be. As with most daunting tasks, a little preparation can go a long way toward alleviating stress and assuring smooth progress. Time spent organizing and uploading your documents prior to your virtual appointment with your CPA will serve you and your tax preparer well on multiple levels.
For example, as you are putting your files in order, it will likely refresh your memory of events throughout the year, which may affect the amount of taxes owed. Better yet, being prepared will inevitably cut down on the time needed to complete tax filings, since there will be less back-and-forth between you and your CPA. Here are some of the best ways for individuals and families to prepare for tax season.
The end of the year has always been one of the most hectic times for business owners. Moving forward into the new year, it's always a good exercise to thoroughly assess your financials and your tax options, enabling you to get a realistic picture of how the business performed - and what changes you might want to implement for future growth - in other words, preparing your business for 2023.
It’s already that time of year again, leading up to the holidays. The kids are back in school, summer fun is just a memory, and it’s time for a strategic huddle with your tax planner. This year, in particular, has been a wild ride in terms of inflation and the cost of living, and most everyone is looking for ways to lessen the sting of rising costs and create a plan for whatever 2023 may have in store.
Three kinds of people are doing their taxes incorrectly: those waiting for a refund, those dreading owing as much as the year prior, and those who have no clue what their taxes will look like once the dust settles. If your taxes are anything other than zero, it is time to sit down with a Certified Public Accountant (CPA) and start tax planning for next year.
Three kinds of business owners are doing their taxes incorrectly: those waiting for a refund, those dreading owing as much as the year prior, and those who have no clue what their taxes will look like once the dust settles. If your taxes are anything other than zero, it is time to sit down with a Certified Professional Accountant (CPA) and start tax planning next year.
The IRS opened the tax season this year — or began to receive taxpayers’ filings — yesterday on January 24, 2022. As you begin preparing for your 2021 tax filing, consider taking advantage of the provisions below if you haven’t already. You can ask us at Myrick CPA or your own tax consultant for details to help you find the best tax advantages available to you.