The schedule is closed as of March 30. This means we cannot accept any new tax prep appointments after March 30. We need the last two weeks of the season to complete the work already in the office. We want to strongly encourage existing clients to drop off their tax documents so we can get [...]
Estimated tax payments (or "quarterlies") are due January 17th, 2023. These payments are for your 2022 income tax. Why do we have to make estimated tax payments? Well, our tax system is a pay-as-you-go system, you are supposed to pay tax as you earn income. That is why you have withholding taken out of your [...]
What time is it? **1099 time**!! Hello my sweet business babies! As we speed into the new year it’s time to start getting ready for your year end reporting requirements. If you paid for services for anyone who was not an employee, you may be required to file a form 1099-NEC. The 1099 series are [...]
Hot Water 2020 Hot Water 2021
Hey, if you have been reading my newsletters (and I know you have!) you know that your Advance Child Tax Credit payments must be reported and reconciled on your 2021 tax return. You should also know that the IRS will be sending Letter 6419 to you that will show the total of those payments, and [...]
This is might seem familiar to the 3 or 4 of you that read my emails, but I wanted to get it here on the website where it would be easier to find and reference. Advance payments of the Child Tax Credit were set to begin July 15 and end December 15, 2021. For the [...]
Warning: This is a very long post, and I wrote it when I was in a VERY BAD MOOD. So I am trying to tone it down a bit, but it is still important information! A reminder that I am raising my bookkeeping rates starting with the 2022 bookwork. My base fee is now $90 [...]
It’s my business, it’s my money! Right?? Well… Let’s talk about using your business account for personal spending. One of the things I really stress for my small business clients is that you really need to have dedicated business bank account. There are all kinds of good reasons to have a business bank account and [...]
Amazon and PayPal: A NOT Love Story For most of my small business clients the easiest way to keep their books has been to use QuickBooks Online, or for me to hold their books on QuickBooks Desktop. This allows me to download transactions and reconcile bank statements quickly and easily, any time, without bugging the [...]
Did you get married this year? YAY!!! But here’s the thing, you have to tell me. It matters. I have been pretty shocked by the number of people who come to me and tell me they are married, but it doesn’t matter for their taxes. “We keep all our accounts separate” or “We didn’t get [...]