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 [...]

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New Crypto Currency Reporting Requirements – 2023

By |2024-01-29T16:01:53-05:00January 29th, 2024|Individual Income Tax|

Essential Guide to Reporting Cryptocurrency and Digital Asset Income on Your 2023 Tax Returns The Internal Revenue Service (IRS) has issued a reminder that all taxpayers must diligently report digital asset-related income when filing their 2023 federal income tax returns. What’s New This Year? The IRS has updated the digital [...]

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2024 Tax Season Opening Date Announced

By |2024-01-08T17:22:53-05:00January 8th, 2024|Individual Income Tax|

2024 Tax Season: What You Need to Know... The IRS has set the stage for a smoother tax filing experience this year, with the season officially kicking off on January 29, 2024. They're expecting over 128.7 million individual tax returns by the April 15 deadline, so it's time to gear [...]

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2023 Tax Updates for Individuals

By |2024-01-18T16:51:00-05:00January 4th, 2024|Individual Income Tax|

Navigating the 2023 Tax Year: Key Updates for Individuals The 2023 tax year brings several important changes that individuals should be aware of. Staying informed about these updates is essential for effective tax planning and ensuring that you take full advantage of any benefits or adjustments. Adjusted Tax Brackets and [...]

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January 15, 2024 – Your Guide to Estimated Tax Payments

By |2023-12-08T17:18:07-05:00December 8th, 2023|Corporate Income Tax, Individual Income Tax|

January 15th 2024 is the last day to make an estimated tax payment for 2023. With this deadline looming, it's crucial for individuals and businesses to turn their attention to estimated tax payments. Understanding the implications can help you navigate this process more effectively and avoid potential penalties. Who Needs [...]

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IRS: Beware of fake charities; check before donating

By |2023-10-23T14:51:10-04:00October 23rd, 2023|Corporate Income Tax, Individual Income Tax|

IRS: Beware of fake charities; check before donating Source: IRS.gov, IR-2023-196, Oct. 23, 2023 WASHINGTON —With the tragic crises and natural disasters happening around the globe, many are responding to the call to give what they can to help. The Internal Revenue Service today warned taxpayers to be wary of [...]

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Important Tax Filing Reminder ! Extension Deadline 10-16-23

By |2023-10-13T17:32:59-04:00October 13th, 2023|Individual Income Tax|

The approaching tax filing extension deadline is Monday, October 16th. We urge all taxpayers that requested a filing extension for their 2022 tax return to finalize and submit their Form 1040 by this date to prevent any late filing penalties. Please note, if your business operates within disaster-affected areas in [...]

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IRS reminds self-employed and others of Sept. 15 third quarter estimated tax payment deadline

By |2023-09-07T07:57:35-04:00September 7th, 2023|Corporate Income Tax, Individual Income Tax|

Ready to make your payment? Check our step by step instructions here! Source: IRS.gov Issue Number:    IR-2023-165 IRS reminds gig workers, self-employed and others of Sept. 15 third quarter estimated tax payment deadline WASHINGTON – The Internal Revenue Service is reminding taxpayers who pay estimated taxes that the deadline to [...]

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Q2 Estimated Tax Payments due June 15th

By |2023-06-08T13:13:14-04:00June 8th, 2023|Individual Income Tax|

Mid-June estimated tax payment deadline in sight for many taxpayers WASHINGTON — The Internal Revenue Service today reminded taxpayers of the 2023 second quarter estimated tax deadline. Those who pay estimated taxes should consider the June 15 deadline to stay current with their taxes. Estimated tax is the method used [...]

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