If you qualify for the advance child tax credit (CTC) payments, online sign-up is now available through a designated IRS tool. The CTC tool allows taxpayers who are not required to file a 2019 or 2020 individual income tax return to sign up to receive the advance CTC payments. Taxpayers who use the tool can also claim the 2020 recovery rebate credit and the third economic impact payment if you haven’t already done so…
December 2020 Coronavirus Relief Package
Business Tax Strategies to Keep in Mind for COVID-19 Relief
Standard vs. Itemized Deductions: What's the Best Tax Strategy?
With tax season quickly approaching, it’s a great time to take a look at your projected tax return and decide on a tax strategy that fits your personal situation. Choosing the right deductions is one way taxpayers can plan for their federal income tax liability to reduce taxable income and, potentially, achieve a larger return…
Why You Should File ALL Returns Electronically and How QuickBooks Can Help
As a business owner, filing your tax returns can be a burdensome process. While the last thing you probably want to do is learn a new system to file your returns, it just might be the key to streamlining the filing process and accurately maintaining your data entry. Filing your returns electronically has many benefits, and there are a variety of software options out there to help get the job done. We’re partial to QuickBooks due to the platform’s ability to pull relevant information straight from your financial reports and file your returns from one location….
Why You Should be Considering Next Year's Filing Status Now
Filing your tax return often involves recording and entering a lot of information about your life and your earnings. If you’re someone who dreads sitting down and getting it all done, you might benefit from shifting your mindset. Instead of thinking of tax time as a few months out of the year, consider viewing your taxes as a part of your finances that can evolve and change at any time. One such area that’s often subject to change, is your filing status…
How Taxes Affect Your Student Loan Payments
Wayfair and the State Sales Tax Landscape
When South Dakota v. Wayfair was passed in June of 2018, states jumped on the chance to collect sales tax from eCommerce businesses and other remote sellers. However, one year later, much is still unclear about how states should enforce new laws and guidelines associated with the Supreme Court decision…
Why QuickBooks?
Whether you’re a small business owner or handling the bookkeeping for a larger organization, you understand firsthand the importance of maintaining accurate, detailed, and up-to-date financials. There are many software options to choose from to help you achieve accuracy, but not all of them boast the reputation and wide-usage of QuickBooks Online by Intuit…..