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Avoiding surprises as a business owner is crucial to ensure you have a successful business. The same goes for managing your personal finances. By subscribing to our blog and newsletter you get the latest updates on the world of finance and taxes. Additionally, by visiting our main topic categories below you can educate yourself on the various topics regarding tax education, personal finance, and business ownership. 

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Protect Tax Records Before Disaster Strikes

Posted by Missy Dennis on Sep 1, 2020 8:03:00 AM

As such, it's always a good idea to plan for what to do in case of a disaster. Here are some simple steps you can take right now to prepare:

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Topics: Taxes, Tax Return

Filing an Amended Tax Return

Posted by Missy Dennis on Aug 20, 2020 8:35:00 AM

If you discover a mistake on your tax return after you've already filed, don't panic. In most cases, all you have to do is file an amended tax return. Here's what you need to know:

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Topics: Taxes, Tax Return

Here's How to Pay If You Owe Money to the IRS

Posted by Missy Dennis on Jul 13, 2020 7:48:00 AM

The federal tax deadline is quickly approaching. If you owe money to the IRS - including estimated and other business taxes - here are six options for quick and easy electronic payments:

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Topics: Taxes, Tax Return

July 15 Deadline for Reporting Foreign Income

Posted by Missy Dennis on Jul 8, 2020 8:14:00 AM

If you live or work outside the United States, you generally must file and pay your tax in the same way as people living in the U.S. This includes people with dual citizenship. Due to the coronavirus pandemic, people who live and work abroad have until Wednesday, July 15, 2020, to file their 2019 federal income tax return and pay any tax due. The deadline is normally June 15.

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Topics: Personal Finance, Taxes, Tax Return, Tax Preparation

Avoid These Common Errors When Filing a Tax Return

Posted by Missy Dennis on Jun 16, 2020 8:09:00 AM

When filing a tax return, mistakes such as the common errors listed below can result in a processing delay - and increase the amount of time it takes to receive a tax refund. Using a reputable tax preparer such as a certified public accountant, enrolled agent or another knowledgeable tax professional is usually the best way to avoid this. With this in mind, here are eight of the most common errors taxpayers make when filing their returns:

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Topics: Taxes, Tax Return, Tax Preparation

Job Loss Could Affect Your Tax Situation

Posted by Taylor Bennett on May 14, 2020 8:37:00 AM

If you've lost your job you may have questions about how it could affect your tax situation. Here are some answers:

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Topics: Taxes, Tax Return

Additional Tax Deadlines Extended

Posted by Scott Farnes on May 5, 2020 8:09:00 AM

As a reminder, taxpayers now have until July 15, 2020, to file and pay federal income taxes originally due on April 15 and no late-filing penalty, late-payment penalty or interest will be due. Due to the coronavirus pandemic, this relief has been expanded to include additional returns, tax payments and other actions:

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Topics: Taxes, Tax Extension, Tax Return, Tax Preparation

Relief for Other Coronavirus-related Tax Issues

Posted by Missy Dennis on Apr 21, 2020 8:16:00 AM

Relief for taxpayers facing the challenges of COVID-19-related tax issues is now available through the IRS People First initiative. The projected start date will be April 1 and the effort will initially run through July 15, 2020. During this period, to the maximum extent possible, in-person contact will be avoided; however, the IRS will continue to take steps where necessary to protect all applicable statutes of limitations.

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Topics: Taxes, Tax Return

CARES Act: Information for Individual Taxpayers

Posted by Missy Dennis on Apr 9, 2020 8:07:00 AM

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, the stimulus bill that was signed into law on March 27, 2020, contains legislation to stabilize the economy during the coronavirus pandemic. These measures include economic recovery checks for taxpayers, as well as several other tax provisions affecting individuals.

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Topics: Personal Finance, Taxes, Tax Credit, Tax Return

2019 Tax Deadline for Tax Returns & Estimated Taxes Now July 15

Posted by Scott Farnes on Apr 7, 2020 8:02:00 AM

Due to the coronavirus pandemic, the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed.

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Topics: Taxes, Tax Return, Tax Preparation