Entries by IslerNW

The July 15th Deadline Is Fast Approaching, and it Isn’t Just for the 2019 Individual Tax Return

The July 15th Deadline Is Fast Approaching, and it Isn’t Just for the 2019 Individual Tax Return Article Highlights:   Extensions Contributions to IRAs Estimated Tax Payments for the First Two Quarters of 2020 Individual Refund Claims for the 2016 Tax Year Foreign Account Reporting Requirements Due to the COVID-19 emergency, the IRS provided taxpayers […]

Don’t Throw Away That Notice 1444

Article Highlights:   Notice 1444 You May Qualify for Additional Credit on the 2020 Return Tax Records The IRS is mailing all recipients of Economic Impact Payments a Notice 1444 that provides information about the amount of their payment, how the payment was made and how to report any payment that wasn’t received. If you’ve […]

3 Ways to Receive Payments in QuickBooks Online

 Recording customer payments is one of your more pleasant accounting tasks. Depending on the situation, you can choose from multiple ways to do this using QuickBooks Online.   If you made New Year’s resolutions this last January, you’ve probably had to revise them. No one knew what was coming when 2019 turned over to 2020. […]

Unique IRA Opportunities for 2020

As bad as it has been financially for many individuals, 2020 does provide some unique tax opportunities for those who have traditional IRA accounts. These range from converting traditional IRAs to Roth IRAs, retirees making larger-than-normal IRA withdrawals and the decision whether to take advantage of the required minimum distribution suspension for 2020. Let’s look […]

Notice: Don’t Miss These Important IRS Due Dates in July

July 1 – Time for a Mid-Year Tax Check Up Time to review your 2020 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties or to determine if the estimated payments and/or withholding can be reduced because your income has declined as a result of the COVID-19 […]

The IRS Is Issuing Some Stimulus Payments by Debit Card; Some Are Being Mistaken as Junk Mail and Thrown Out

If you are like most Americans, you receive tons of junk mail, which you tend to discard without ever reading. Well, if you haven’t already received your stimulus payment from the feds, maybe you shouldn’t be so quick to throw away those envelopes from unknown senders, at least until you have received your stimulus payment.

Does Your Business Qualify for the Research Tax Credit?

For businesses, the tax code provides a tax credit of up to 20% of qualified expenditures to encourage businesses to develop, design or improve products, processes, techniques, formulas or software and similar activities. In the past, this credit—called the Credit for Increasing Research Activities—had to be reauthorized by Congress yearly, but as part of the […]