by somichcpa | Apr 11, 2020 | Individual Taxes
The April 15 federal income tax filing due date has been moved to July 15, the U.S. Treasury Department and IRS recently announced. Here is what you need to know: The due dates for all tax payments normally due April 15 have been pushed back 90 days to July 15,...
by somichcpa | Mar 30, 2020 | Business, Corporate Taxes, Individual Taxes, Retirement Planning
To date, we have helped 58 business owners, and families navigate through the CARES Act. And yes – it’s LAW. But we are still WEEKS away from this law becoming implemented fully. We must be proactive through this entire process! We’ll keep you updated daily via...
by somichcpa | Mar 10, 2020 | Individual Taxes, Tax Tips
Your kids are getting older. Before you know it they’ll be dating, driving and entering college (if they aren’t already!). Tax breaks drop dramatically as your children grow up, but you may be able to offset the losses with some timely tax planning. Consider the...
by somichcpa | Feb 18, 2020 | Business, Individual Taxes
With the major Form W-4 overhaul for 2020, you may field questions from your employees concerning their federal paycheck tax withholdings. While it’s not your responsibility to provide tax advice to your employees, it’s good to be prepared to help answer questions...
by somichcpa | Feb 11, 2020 | Financial Planning, Individual Taxes, Retirement Planning
The Setting Every Community Up for Retirement Enhancement Act, also known as the SECURE Act, was passed by Congress in late December 2019. Here are some of the features in the new legislation that will help you save more for retirement: Money can continue to grow...
by somichcpa | Feb 3, 2020 | Individual Taxes, Tax Tips
The IRS primer every voter should know Every year the IRS publishes instructions to prepare your Form 1040, individual tax return. The publication for 2019 is a whopping 108 pages! On page 103 of the IRS booklet is a summary of collections (income) and spending...
