by Paula Kennedy, EA | Feb 3, 2022 | Business
Ever since the Affordable Care Act was signed into law, business owners have had to keep a close eye on how many employees they’ve had on the payroll. This is because a company with 50 or more full-time employees or full-time equivalents on average during the previous...
by Paula Kennedy, EA | Jan 27, 2022 | Tax
The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips to help speed processing and avoid hassles. Tip 1. Contact us soon for an appointment to prepare your tax return. Tip 2. Gather all...
by Paula Kennedy, EA | Jan 19, 2022 | Tax
Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those that may be important to you and your business. Social Security tax The amount of an employee’s earnings that is subject...
by Paula Kennedy, EA | Jan 19, 2022 | Tax
The IRS announced it is opening the 2021 individual income tax return filing season on January 24. (Business returns are already being accepted.) Even if you typically don’t file until much closer to the April deadline (or you file for an extension until October),...
by Paula Kennedy, EA | Jan 18, 2022 | Tax
If you received advanced child tax credit payments last year, the IRS will send you a “Letter 6419,” which will include the total amount of monthly child tax credit payments you received in 2021. Don’t throw the letter away – you’ll need it...
