Estimated tax payments are in place to ensure that the taxpayer is on the pay-as-you-go method since taxes must be paid as income is earned. A corporation must estimate its taxable income for each quarter and are required to make estimated tax payments if they expect to owe at least $500 or more … [Read more...] about Estimated Corporate Tax Payment Requirements
The Internal Revenue Service (IRS) recently issued a warning to taxpayers to be on the lookout for a new scam that tries to mislead people into believing that they are owed a tax refund. The new scheme involves a mailing in a cardboard envelope from a delivery service. The letter includes the IRS … [Read more...] about Beware of Tax Scams
Summer may be coming to a close, but our desire to provide you with helpful and practical information never stops. Our Summer Small Business Newsletter can be read/downloaded here at your convenience. … [Read more...] about Our Latest Small Business Newsletter is Here!
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
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
There are many noteworthy tax changes and updates that will impact both individual taxpayers and businesses alike in 2023. Bonus Depreciation First-year bonus depreciation isn’t as valuable in 2023 as it was for the past few years. For 2022, businesses were able to deduct the full cost of new … [Read more...] about Tax Changes Ahead for 2023