Tax-related identity theft is a type of identity theft that revolves around the fraudulent use of a social security number, individual taxpayer identification number or an employer identification number. There are many ways in which tax-related identity theft might transpire and it might not begin … [Read more...] about What To Do If You Are A Victim Of Tax-Related Identity Theft
Social Security Benefits Part I: Changing Course on Collecting Social Security Payments
It is common for individuals to have a change of heart regarding decisions made when transitioning to retirement. It might be the fact that you are not ready for early retirement, you were overconfident that you could retire, you desire to reenter the workforce, or you prefer to delay receiving … [Read more...] about Social Security Benefits Part I: Changing Course on Collecting Social Security Payments
The Basics of an Emergency Fund
With many of the COVID-19 2020 & 2021 tax relief provisions expiring, many taxpayers were surprised by a higher-than-expected 2022 income tax bill. In some cases, this also meant a balance was due with the tax return for the first time in a few years. Benefits such as the expanded child tax … [Read more...] about The Basics of an Emergency Fund
Estimated Tax Payment Requirements for Individuals
What are Estimated Tax Payments? Estimated tax payments are often a requirement for taxpayers that generate income that does not have any corresponding tax withholdings such as: income from self-employment, interest and dividend income, capital gains, rents and royalties. However, estimates could … [Read more...] about Estimated Tax Payment Requirements for Individuals
Employee retention Tax Credit (ERTC) Scams
The IRS added widely circulating promoter claims involving Employee Retention Tax Credits (ERTC) as a new entry in the annual “Dirty Dozen” list of tax scams. These promotions can be based on inaccurate information related to eligibility for and computation of the credit. Eligible taxpayers can … [Read more...] about Employee retention Tax Credit (ERTC) Scams
Is QuickBooks Desktop Over?
You may have been recently notified that starting May 31, 2023, QuickBooks Desktop 2020 will be discontinued. This means that support services involving critical security updates and live technical support will no longer be available. Any Intuit integrated services will be terminated including … [Read more...] about Is QuickBooks Desktop Over?