RogerRossmeisl

AUGUST 4, 2023

But there may be an advantage: You may qualify for a tax break for paying the premiums. Premiums count as medical expenses For purposes of claiming an itemized deduction for medical expenses on your tax return, you can combine premiums for Medicare health insurance with other qualifying medical expenses.

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tax return tax cpa 241

RogerRossmeisl

MAY 23, 2022

The tax filing deadline for 2021 has passed. Now that your tax return has been successfully filed with the IRS, there may still be some issues to bear in mind. You can throw some tax records away now You should hang onto tax records related to your return for as long as the IRS can audit your return or assess additional taxes.

tax return 244

tax return tax California audit 244

RogerRossmeisl

FEBRUARY 23, 2022

If you made large gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2021 gift tax return. The annual gift tax exclusion has increased in 2022 to $16,000 but was $15,000 for 2021. The post Are You Ready for the 2021 Gift Tax Return Deadline?

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tax return tax cpa 245

Canopy Accounting

FEBRUARY 29, 2024

With tax season officially started, you’re likely too busy to personally check in with every client to make sure they are prepared for their tax appointment. That’s why we’ve put together a tax return checklist for clients.

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tax return tax tax preparation 98

RogerRossmeisl

JANUARY 26, 2022

The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips to help speed processing and avoid hassles. Tip 1 Contact us soon for an appointment to prepare your tax return. Tip 2 Gather all documents needed to prepare an accurate return.

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RogerRossmeisl

FEBRUARY 23, 2022

If you’re married, you may wonder whether you should file joint or separate tax returns. The answer depends on your individual tax situation. In general, it depends on which filing status results in the lowest tax. And you’re both equally liable for any additional tax the IRS assesses, plus interest and most penalties.

tax return 245

tax return tax cpa 245

RogerRossmeisl

AUGUST 6, 2023

If you’re one of the entrepreneurs, you may not know that many of the expenses incurred by start-ups can’t be currently deducted on your tax return. You should be aware that the way you handle some of your initial expenses can make a large difference in your federal tax bill. The post Starting a Business?

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tax return tax Start-ups cpa 231

RogerRossmeisl

MAY 4, 2021

The May 17 deadline for filing your 2020 individual tax return is coming up soon. It’s important to file and pay your tax return on time to avoid penalties imposed by the IRS. The post Importance of Meeting Tax Return and Payment Deadlines appeared first on Roger Rossmeisl, CPA. Here are the basic rules.

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tax return tax cpa 246

RogerRossmeisl

FEBRUARY 13, 2021

The IRS opened the 2020 individual income tax return filing season on February 12. You can potentially protect yourself from tax identity theft — and there may be other benefits, too. You can potentially protect yourself from tax identity theft — and there may be other benefits, too. How is a person’s tax identity stolen?

tax return 246

tax return tax income tax cpa 246

RogerRossmeisl

MAY 1, 2022

In Fact Sheet 2022-25, the IRS has provided information about how taxpayers should handle non-tax and tax-related identity theft. When a taxpayer believes their personal information is being used to file fraudulent tax returns, they should submit a Form 14039, Identity Theft Affidavit, to the IRS.

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tax return tax cpa 246

CPA Practice

MARCH 21, 2024

By Dave Eisenstadter, masslive.com (TNS) A 17-year veteran of the IRS was arrested on Wednesday and charged with filing false personal tax returns for three years and underreporting about $90,000 worth of income, according to Acting U.S. Attorney Joshua Levy’s office. Attorney’s office said. Attorney’s office wrote.

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tax return Massachusetts tax income tax 98

Accounting Today

JANUARY 11, 2024

The official start date of tax season for individual taxpayers will be on Jan. 29, but the Internal Revenue Service plans to accept business tax returns as soon as Jan.

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RogerRossmeisl

APRIL 25, 2023

Once you file your 2022 tax return, you may wonder what personal tax papers you can throw away and how long you should retain certain records. You may have to produce those records if the IRS audits your return or seeks to assess tax. It’s a good idea to keep the actual returns indefinitely.

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Accounting Today

SEPTEMBER 28, 2023

Close to a thousand taxpayers who earn over $1 million a year failed to file tax returns over multiple recent years, potentially owing $34 billion in taxes, according to IRS data.

tax return 124

tax return tax income tax 124

CPA Practice

MARCH 12, 2024

Beach, EA, CFP, AWMA, Kiplinger Consumer News Service (TNS) The only thing worse than the monotonous task of preparing your tax return, or preparing your CPA to prepare your tax return, is doing it again on an amended return. We work with retirees to help maximize income, minimize taxes and plan their estate.

tax return 111

tax return tax Washington tax planning 111

RogerRossmeisl

JANUARY 19, 2022

The IRS announced it is opening the 2021 individual income tax return filing season on January 24. Business returns are already being accepted.) You can potentially protect yourself from tax identity theft — and there may be other benefits, too.

tax return 244

tax return tax income tax cpa 244

RogerRossmeisl

JANUARY 26, 2022

Whatever the reason, if you’ve recently started a new business, or you’re contemplating starting one, be aware of the tax implications. The post How Entrepreneurs Expenses are Claimed on Tax Returns appeared first on Roger Rossmeisl, CPA. You may have to train workers and pay for rent, utilities, marketing and more.

tax return 240

tax return tax cpa Start-ups 240

TaxConnex

SEPTEMBER 12, 2023

The new app, eConnex, gives Shopify users a simple way to get their sales tax data out of Shopify and upload it into TaxConnex's  Client Connexion  for easy returns filing.

tax return 147

tax return Sales tax tax consultant 147

RogerRossmeisl

AUGUST 5, 2021

You should be aware that the way you handle some of your initial expenses can make a large difference in your federal tax bill. How to treat expenses for tax purposes If you’re starting or planning to launch a new business, keep these three rules in mind: Start-up costs include those incurred or paid while creating an active.

Start-ups 246

Start-ups tax return tax cpa 246

CPA Practice

MARCH 11, 2024

Beach, EA, CFP, AWMA, Kiplinger Consumer News Service (TNS) The only thing worse than the monotonous task of preparing your tax return, or preparing your CPA to prepare your tax return, is doing it again on an amended return. We work with retirees to help maximize income, minimize taxes and plan their estate.

tax return 85

tax return tax Washington tax planning 85

CPA Practice

AUGUST 7, 2023

Taylor, Kiplinger Consumer News Service (TNS) Does the order of names on your joint federal income tax return reveal significant things about you and your partner? A recent study suggests the answer could be yes—that tax return name order may hold some clues about social norms and beliefs. By Kelley R. of the time.

tax return 98

tax return income tax tax audit 98

CPA Practice

FEBRUARY 24, 2023

Dalton, Staten Island Advance, NY (TNS) The IRS has been processing refunds faster this tax season than last year, but the average refund Americans are receiving is slightly lower, the federal agency recently announced. million tax returns—29% more than in 2022, nearly four million more. As of Feb.

tax return 130

tax return tax income tax 130

MyIRSRelief

MAY 2, 2022

Amending and or correcting a US corporate 1120 or 1120S business tax return (1120X), there are many reasons to do so: Corporate business returns often require amendments to correct errors or to claim overlooked income, deductions or tax credits after the filing of the returns, if located in Los Angeles, CA or other city.

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tax return corporation tax tax audit 130

Insightful Accountant

APRIL 8, 2024

The deadline for most taxpayers to file and pay their 2023 federal tax is April 15, 2024 The IRS has some important reminders for taxpayers who haven’t filed yet.

tax return 90

tax return tax 90

RogerRossmeisl

MARCH 18, 2024

We are finding that, all too often, taxpayers that make Employee Retention Tax Credit (ERTC) claims by engaging a so-called “ERTC Mill” are never told of their responsibility to amend their applicable prior year federal income tax return(s), and are shocked to learn that they owe additional taxes, penalties and interest.

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Insightful Accountant

FEBRUARY 13, 2024

No touch tax returns are the way of the future, or the present depending on who you ask. In either case, firms need to be jumping on the bandwagon.

tax return 52

tax return tax 52

FraudFiles

DECEMBER 11, 2023

Income tax returns are an important piece of financial information in a divorce or child support case. There is so much information that can be obtained from the tax returns, and if we have several years of data, we can make comparisons from year-to-year. In the video below, Tracy talks …

tax return 52

tax return tax income tax 52

CPA Practice

FEBRUARY 28, 2024

A group of Mississippi tax return preparers were sentenced to prison on February 22, 2024, for charges related to a conspiracy to prepare and file false tax returns for clients in Jackson, Mississippi. Earnest and Randell were also convicted of preparing such returns. million in tax loss to the IRS.

Mississippi 52

Mississippi tax return tax preparation tax 52

Anders CPA

FEBRUARY 27, 2024

Filing taxes for a deceased person, whether it’s a parent, spouse or other loved one, may seem like an overwhelming task amidst your grief, but it doesn’t have to be. With the right information on hand, filing taxes for the deceased can be done with minimal stress and effort.

tax return 52

tax return tax Legal income tax 52

RogerRossmeisl

JUNE 5, 2022

In a given year, you may be taxed on more partnership income than was distributed to you from the partnership in which you’re a partner. It’s due to the way partnerships and partners are taxed. Unlike C corporations, partnerships aren’t subject to income tax. You may have come across a situation that’s puzzling.

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tax return tax income tax cpa 217

CPA Practice

OCTOBER 17, 2023

Thirteen states have agreed to participate in a trial run of the IRS’s free online return filing system, called Direct File, during the 2024 tax season, the agency said on Tuesday. In addition, the state of Washington agreed to join the integration effort for its application of the Working Families Tax Credit.

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CPA Practice

FEBRUARY 20, 2023

Dalton, Staten Island Advance, NY (TNS) The IRS has been processing refunds faster this tax season than last year, but the average refund Americans are receiving is slightly lower, the federal agency recently announced. million tax returns—29% more than in 2022, nearly four million more. As of Feb.

tax return 98

tax return tax income tax 98

Going Concern

JANUARY 10, 2024

Today in clients behaving badly, the DoJ announced Friday that Las Vegas restaurateur Raul Gil, who owns and operates three Casa Don Juan restaurants in the city, is headed to prison for 37 months for evading his federal income taxes. In total, Gil caused a tax loss to the IRS of approximately $1.6 District Judge Andrew P.

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tax return tax Nevada income tax 62

CPA Practice

FEBRUARY 19, 2024

But you’re not taxed on them, and they are not added to your adjusted gross income. If using tax software, a drop-down box for line 4b should give you a choice to click QCD. Similar rules apply to tax-free rollovers from IRAs. The cap for 2024 is $105,000 because the Secure Act 2.0 That would be double-dipping.

tax return 98

tax return tax Washington Start-ups 98

Inform Accounting

OCTOBER 13, 2023

If you need to file a Self Assessment tax return for 2022/23, you have until midnight on 31 January 2024 in which to do this, as long as you file online. However, HMRC have been encouraging taxpayers to file their tax return early. Is this worthwhile and what are the benefits?

tax return 52

tax return tax 52

Canopy Accounting

SEPTEMBER 29, 2023

Corporation Income Tax Return, plays a crucial role in the world of taxation for corporations. In this blogpost, we will explore the key aspects of Form 1120 and its significance in filing corporate taxes. Form 1120, the U.S. As an accountant, it is essential to have a firm grasp of this form and its implications.

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income tax tax return tax corporation tax 59

MyIRSRelief

MARCH 15, 2024

In the bustling city of Whittier, California, individuals and businesses alike face the daunting task of navigating the complex world of taxes. From unfiled tax returns to unpaid back taxes, and from employment 941 payroll issues to the intimidating process of IRS, FTB, EDD, and CDTFA audits, the challenges can seem insurmountable.

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California tax tax return payroll 130