Keep This IRS Letter if you Received Advance Child Tax Payments

If you received advance child tax payments in 2021, the IRS will be sending out Letter 6419 (2021 Advance CTC). Please keep this letter with your tax preparation documents! The letter will include the total amount of ACTC payments taxpayers received in 2021 and the number of qualifying children used to calculate the advance payments. […]

2021 Business Organizers Now Available

We have the business organizers available for clients who have entity returns that must be filed. Entity returns are any business taxed as an S-corporation, C-corporation or partnership. These checklists and questionnaires are required for each entity and we cannot start work without it. All packets are available as PDF files you can download, or […]

Retirement Plan Strategies for 2021

As 2021 comes to a close, there are some strategies you still may be able to pursue to reduce your taxes for the year. The following strategies relate to tax savings using retirement plans such as 401(k) plans, 403(b) plans and IRAs. Fully Fund Your Retirement PlanFully funding your company retirement plan with pre-tax dollars […]

Getting Ready for Year-End – Business Owners

Year-end comes quickly for many businesses. With holidays and travel, it is imperative to be organized and ready for year-end, so you can get your CPA the information needed early in the new year. The following is a list of things that should be done in November or December to help you get ready. Download […]

What Are Estimated Tax Payments?

Has your tax professional suggested making “estimated payments”? Do you ever wonder what he or she is talking about? What are estimated payments? Why do I have to make them? Will I get in trouble if I don’t make estimated payments? What are Estimated Payments? Estimated payments are generally suggested when the withholding from your […]

New Payments Start in July for Advance Child Tax Credit Payments

Beginning in July, some taxpayers may begin receiving payments of up to $300 per month as advance payments of an increased child tax credit. Here is an outline of the changes. As usual, there are many more details behind the law, and clarifications are issued on a regular basis. What Is it? The American Rescue […]