by somichcpa | Mar 6, 2019 | Corporate Taxes, Individual Taxes
The tax season is in full swing and there are a few steps you can take now to speed up the filing process. Even if you have already filed this year this information can be helpful when planning your tax strategies in the future. The faster your return is filed, the...
by somichcpa | Mar 4, 2019 | Corporate Taxes, Individual Taxes, Tax Tips
Get Ready! Here Comes the New 1040… We are all in for a wild ride as we navigate the biggest tax overhaul in 30 years on a new Form 1040 with six new schedules. Now that the new Form 1040 is finalized, here are three main takeaways for this tax season: The main...
by somichcpa | Feb 5, 2019 | Corporate Taxes, Individual Taxes, Tax Tips
Tax forms come in more varieties than flavors of ice cream. Nearly any time something of value changes hands, there’s a specific tax form available to capture it for posterity. Check out the list below to familiarize yourself with some of the forms that are likely to...
by somichcpa | Feb 4, 2019 | Individual Taxes, Retirement Planning, Tax Tips
The Social Security Administration announced a 2.8 percent boost to monthly Social Security and Supplemental Security Income (SSI) benefits for 2019. The increase is the largest in seven years, and is based on the rise in the Consumer Price Index over the past 12...
by somichcpa | Feb 3, 2019 | Corporate Taxes, Tax Tips
Small business owners have a number of options on how to organize their business for tax purposes. Many small, single owner, businesses are not incorporated, and are deemed “sole proprietors”, in the eyes of the IRS. Other business entities, like C...
