What’s in the new tax bill?

By |2025-06-30T11:58:46-04:00June 30th, 2025|Individual Income Tax, Uncategorized|

July 1, 2025 - D.C. is in full negotiation mode, and the latest House and Senate versions of the new tax bill include major proposed changes: ✔️ Expanded child tax credits✔️ New car loan interest deductions✔️ Bonus depreciation returns✔️ R&D write-offs restored✔️ SALT cap changes (again)✔️ Repeal of energy tax [...]

Comments Off on What’s in the new tax bill?

February Tax Tips & Reminders

By |2025-05-29T11:59:03-04:00February 1st, 2025|Individual Income Tax|

With tax season in full swing, here are a few key reminders to help you stay on track. 📅 Tax Document Reminders Many tax forms, including 1099-Bs for investment accounts, won’t be available until late February. Be sure to check with your brokerage firm before sending partial documents. As you receive your tax [...]

Comments Off on February Tax Tips & Reminders

2024 Income Tax Checklists Available Now!

By |2025-01-23T11:46:04-05:00January 20th, 2025|Corporate Income Tax, Individual Income Tax|

The 2024 tax filing season begins January 27th 2025! Every year, AFSG provides you with detailed checklists to help you stay organized and up to date on the current tax laws. Below are links to our 2024 checklists, worksheets, and virtual appointment options. TAX CHECKLISTS   From your phone, tablet, or [...]

Comments Off on 2024 Income Tax Checklists Available Now!

Fourth Estimated Tax Payment Due Jan. 15, 2025

By |2024-12-27T13:53:22-05:00December 27th, 2024|Individual Income Tax|

Important Reminder: The fourth quarter estimated tax payment deadline is  January 15, 2025. It’s crucial for gig workers, business owners, retirees, or those with investment income to make sure they meet their federal and state tax obligations. Missing payments or underpaying will result in penalties. If you’re unsure about how [...]

Comments Off on Fourth Estimated Tax Payment Due Jan. 15, 2025

Over 60 Tax Updates for 2025

By |2024-10-22T18:22:56-04:00October 22nd, 2024|Individual Income Tax|

The Internal Revenue Service announced today the annual inflation adjustments for tax year 2025 including more than 60 tax provisions that will impact taxpayers when they file their returns in 2026. Notable changes for tax year 2025 The tax year 2025 adjustments described below generally apply to income tax returns [...]

Comments Off on Over 60 Tax Updates for 2025

October Tax Deadlines & Storm Victims

By |2024-10-01T16:16:20-04:00October 1st, 2024|Corporate Income Tax, Individual Income Tax|

In light of the recent federally declared disasters, we want to extend our thoughts to those affected. The IRS has extended certain tax deadlines for individuals and businesses in impacted areas. If you’ve been affected, you may have more time to file your tax returns or make payments. Please check [...]

Comments Off on October Tax Deadlines & Storm Victims

Third Estimated Tax Payment Due Sept. 16, 2024

By |2024-09-10T20:30:15-04:00September 1st, 2024|Individual Income Tax|

Important Reminder: The third quarter estimated tax payment deadline is  September 16, 2024. It’s crucial for gig workers, business owners, retirees, or those with investment income to make sure they meet their federal and state tax obligations. Missing payments or underpaying will result in penalties. If you’re unsure about how [...]

Comments Off on Third Estimated Tax Payment Due Sept. 16, 2024

Form 1099-K: Dispelling Myths and Understanding Your Tax Obligations

By |2024-03-05T16:50:18-05:00March 5th, 2024|Corporate Income Tax, Individual Income Tax|

The Internal Revenue Service (IRS) has recently addressed some common misconceptions surrounding Form 1099-K, aiming to clear up confusion and assist taxpayers in understanding their obligations. With changes and myths circulating, it’s crucial to know the facts about receiving and reporting via Form 1099-K. In November 2023, the IRS [...]

Comments Off on Form 1099-K: Dispelling Myths and Understanding Your Tax Obligations

How are my bonuses taxed?

By |2024-02-15T13:04:45-05:00February 15th, 2024|Individual Income Tax|

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 [...]

Comments Off on How are my bonuses taxed?
Go to Top