» Tax Preparation

For most married couples, you have two options on how to file your taxes: jointly or separately. For a few married people, filing as head of household can be the best option. If you file your taxes jointly, you report all your income and deductions o… Read More

Have you ever driven by a post office in the middle of April and wondered why there were so many people waiting in the checkout line? Chances are it was Tax Day! Some US Post Offices even stay open later to allow taxpayers additional time to get thei… Read More

The most important question many taxpayers are asking right now is: “When will I get my refund?” The IRS announced on January 15th it will start accepting tax returns filed in 2021 (for tax year 2020) on Friday, February 12, 2021. The IRS is star… Read More

Starting with the 2020 tax year, the IRS has reintroduced tax Form 1099-NEC. The IRS made these changes to bring clarity to deadlines for reporting self-employment income. In the past, 1099-MISC has been used. This means starting this year, businesse… Read More

Employers must give their employees a Form W-2, Wage and Tax Statement, if the employee worked anytime during the prior year. The W-2 is the form that shows the amount of income you received in the prior year and how much of your income was withheld… Read More

Determining the cost basis of gifted stock or other needed information for tax purposes can be confusing. Oftentimes, a well-meaning family member, like grandma, will buy stock for a loved one when they are a small child and give it to them when they… Read More

If you use part of your home for your business, you may qualify to deduct the expenses incurred for the business use of your home, including a home office. This deduction is for business owners regardless of whether they rent or own their home. If yo… Read More

The IRS expects to start distributing the stimulus payment checks to eligible low to middle-income Americans in the next three weeks. Millions of Americans have started receiving their stimulus payments this week. The stimulus checks will be distribu… Read More