Here are a few key tax-related deadlines for businesses during Q1 of 2022. JAN. 17: Pay the final installment of 2021 estimated tax. JAN. 31: File 2021 Forms W-2 with the Social Security Administration and provide copies to employees. Also provide copies of 2021 Forms 1099-NEC to recipients and, if reporting nonemployee compensation in Box 7, file, too. FEB. 28: File 2021 Forms 1099-NEC if not required earlier and paper […]
Read More...While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. That’s because some tax figures are adjusted annually for inflation. It’s a good idea to familiarize yourself with tax amounts that have changed for this year. For example, the amount you have to earn in 2022 before you can stop paying Social Security on your […]
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After filing a tax return, you may have questions. 1) When will you receive your refund? Go to irs.gov and click on “Get Your Refund Status” to find out. 2) How long should you save tax records? In general, save records for three years after filing although you should keep the actual returns indefinitely. However, there are exceptions to this general rule. 3) If you overlooked claiming something on your […]
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Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. January 15 Pay the final installment of 2020 estimated tax. Farmers and fishermen: Pay estimated tax […]
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Attending college is one of the biggest investments that parents and students ever make. If you or your child (or grandchild) attends (or plans to attend) an institution of higher learning, you may be eligible for tax breaks to help foot the bill. The Consolidated Appropriations Act, which was enacted recently, made some changes to the tax breaks. Here’s a rundown of what has changed. Deductions vs. credits Before the […]
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