Business Consulting, Tax Preparation, Bookkeeping, Payroll
Below you will find valuable resources regarding taxes, bookkeeping, payroll, and general business consulting topics. Schedule your consultation today and we will answer your questions.
Our Latest Articles
The Importance of Cybersecurity in Accounting
As technology continues to advance, it has become increasingly important for accounting firms to pay attention to cybersecurity. In an era where businesses of all
Streamlining Tax Administration: How the IRS is Leveraging Automation
The IRS uses automation in various ways to improve its operations and better serve taxpayers. The use of computer programs, specifically “tax return processing systems,”
The Advantages of Using Cryptocurrency for Payments: Security, Speed, and Smart Contracts
Cryptocurrency payments have gained popularity in recent years due to their numerous benefits compared to traditional payment methods, such as credit card payments. One of
Current Events
Tax News – The Tax Adviser
- Basis-shifting transaction-of-interest regulations to be removed April 18, 2025The announcement by Treasury and the IRS is a reversal from January regulations. Thursday’s notice provides immediate relief from penalties under Secs. 6707A(a), 6707(a), and 6708 for any failure by participants or material advisers to file disclosure statements required by the regulations.
- Business advocacy group seeks destruction of millions of BOI records April 14, 2025The National Federation of Independent Business said in a letter to Treasury Secretary Scott Bessent that millions of beneficial ownership information (BOI) reports filed by domestic companies before the government dropped the BOI requirement should be destroyed.
- Uniform nonresident state income tax, withholding rules get AICPA support April 11, 2025A Senate bill would bar states from imposing tax and withholding on out-of-state workers who work for no more than 30 days within its borders. An AICPA letter described the bill as “critically important.”
- IRS can make it easier to leave assets to younger generations, AICPA says April 9, 2025In a letter to the IRS, the AICPA recommended changes to the final regulations for generation-skipping transfer (GST) exemption and certain GST elections that it said would make it easier and less expensive for taxpayers to file.
- IRS offers 3 voluntary separation programs as RIF gains steam April 9, 2025The programs include one open to the workers with the most seniority and a renewal of the previous deferred resignation program.
Useful Links
Stimulus Payments Received
Access information relating to your Economic Impact Payments (EIP) here
Child Tax Credit Received
Use this tool to check if you’re eligible and enrolled for advance payments, view your bank account and mailing address, or View your payments
https://www.irs.gov/credits-deductions/child-tax-credit-update-portal
Where Is My Refund
Where’s My Refund will display the status of your refund, usually on the most recent tax year refund we have on file for you.
Where Is My Amended Return
Check the status of your Form 1040-X, Amended U.S. Individual Income Tax Return, for this year and up to three prior years.
Get Your Tax Record (IRS Transcript)
You can view your tax records now in your Online Account. This is the fastest, easiest way to, find out how much you owe, look at your payment history, see your prior year adjusted gross income (AGI), or view other tax records
https://www.irs.gov/individuals/get-transcript
Get or Retrieve Identity Protection PIN (IP PIN)
An Identity Protection PIN (IP PIN) is a six-digit number that prevents someone else from filing a tax return using your Social Security number or Individual Taxpayer Identification Number. The IP PIN is known only to you and the IRS.
https://www.irs.gov/identity-theft-fraud-scams/get-an-identity-protection-pin
Calculate Your Employment Tax
Understand the various types of taxes you need to deposit and report such as, federal income tax, social security and Medicare taxes and Federal Unemployment (FUTA) Tax.
https://www.irs.gov/businesses/small-businesses-self-employed/employment-taxes
Tax Withholding Estimator
The IRS encourages everyone to use the Tax Withholding Estimator to perform a “paycheck checkup.” This will help you make sure you have the right amount of tax withheld from your paycheck
Sales Tax Deduction Calculator
The Sales Tax Deduction Calculator helps you figure the amount of state and local general sales tax you can claim when you itemize deductions on Schedule A (Forms 1040 or 1040-SR)
https://www.irs.gov/credits-deductions/individuals/use-the-sales-tax-deduction-calculator
Pay Your IRS Tax Bill (Direct Pay)
Use this secure service to pay your taxes for Form 1040 series, estimated taxes or other associated forms directly from your checking or savings account at no cost to you.
Pay Your IRS Tax Bill (EFTPS)
Use this tool to check if you’re eligible and enrolled for advance payments, view your bank account and mailing address, or view your payments
Apply For A Payment Plan For Your IRS Tax Bill
Use this link to apply for an Installment Agreement with the IRS. Payment options include full payment, a short-term payment plan (paying in 180 days or less) or a long-term payment plan (installment agreement) (paying monthly)
https://www.irs.gov/payments/online-payment-agreement-application
