1099-K Reporting Threshold Last Minute Change

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Article Highlights: 1099-K Reporting. Third-party Settlement Organizations. American Rescue Plan of 2021 Mandated Reporting Threshold. Delayed Implementation 2023 Threshold 2024 Planned Phase-in Threshold Following feedback…

Year-End Tax Planning Opportunities Are Here

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Article Highlights for End of Year: Not Needing to File a 2023 Year Return? Are Your Children Attending College? Did You Sell Your Home This Year? Do You Have an Employer Health Flexible Spending Account? Did You Become Eligible…
Quickbooks

Year-End Prep: 5 Key QuickBooks Online Tasks Before January 1

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December always seems to fly by. In just a few short weeks, Thanksgiving dinner will be over and it will be time to welcome the New Year. The holiday season brings personal obligations, but for retailers, it's also the busiest time of the year.…

October Extended Due Date – Just Around the Corner

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Article Highlights: October 16, 2023 is the extended due date for 2022 federal 1040 returns. Late-filing Penalty Interest on Tax Due Other October 16 deadlines If you could not complete your 2022 tax return by April 18, 2023…

Tax Exempt Organization Filing Deadline Approaching

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Article Highlights: Information Filing Due Dates Calendar Year Nonprofit Fiscal Year Nonprofits Which Form To File Extension of Time to File Late Filing Penalty Failure To File For 3 Years State Filing Requirements Most…

Worried About Getting Audited? Here’s What You Need to Know About Your Chances

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If you've been following the news recently, you're no doubt familiar with the talk about the Internet Revenue Service hiring new agents during a time when they've been critically understaffed for years. Indeed, the IRS is expected to receive…

Can’t Pay Your Taxes? Here Are Some Options

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Article Highlights: If You Can’t Pay Automatic Extension in Federally Declared Disaster Areas Family Loans Home Equity Loans and HELOCs Credit Card Short-term Payment Plan IRS Installment Agreement Retirement Funds …

Haven’t Filed Tax Returns for Multiple Years? Here’s What You Need to Do Next

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You'd be hard-pressed to find someone who actually enjoys the process of filing taxes. Having said that, it's absolutely something that you're supposed to do like clockwork every single year. Of course, there is a myriad of different reasons…

Start Off on the Right Foot for the 2023 Tax Year

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Article Highlights: W-4 Updates W-9 Collection Estimated Tax Payments Charitable Contributions Required Minimum Distributions Gifting Retirement-Plan Contributions Beneficiaries Reasonable Compensation Business-Vehicle…

How QuickBooks Can Get Your Finances In Order for 2023

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Put 2022 behind you by wrapping up those unfinished accounting tasks in QuickBooks. You meant to clean up your accounting data by the end of 2022, but December is so busy. It was hard to do much beyond managing each day’s high-priority QuickBooks…