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TAX DAY IS APRIL 17 2018.
QuickBooks Training.
Tax Season is Still On.
IRS Begins Accepting Tax Returns.
W-2 and Form 1099 Form Tax Report Deadline for 2018.

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My Blog

TAX DAY IS APRIL 17 2018.

The deadline for filing your taxes is fast approaching — this year, The deadline is April 17, 2018.

We all know, that Life can be busy!!! Maybe your taxes are particularly complicated this year, or maybe you just don’t have the time to sit down and sift through the paperwork.

So, what happens if you don’t file your tax return on time?
If you’re getting a refund on your taxes this year, you don’t need to panic — you have until April 17, 2021 to claim your refund (or until October 17, 2021 if you filed an extension by the April 17 deadline).

QuickBooks Training.

 
It was a pleasure offering Quickbooks Training Services to the finance Team of RCCG Mercy Court, Towson, MD.  Great Pastor, Great Receptivity, Great People. When you have a great team, Training is a Breeze. 
#quickbooks, #quickbookstraining, #quickbookstrainer, #quickbooksproadvisor, #quickbooksspecialist, #bookkeepingservices.


 

Tax Season is Still On.

  

Do you have all your required Tax Filing Documents?

* Form W2

* Form 1099 - MISC (If you are a Contractor or Independent Employee)

* Form 1099 - G (To show Payment received from Government Agencies, Unemployment Benefits, Alimony, Child Support).

* Form 1095 - To show that you are enrolled in a Qualified Health Plan, which will allow you to get your Premium Tax Credit).

* Form 1098 - To show Payment Received from Interest (Interest Income).

* Profit & Loss Financial Statements (If you are a Business Entity or Corporation)

IRS Begins Accepting Tax Returns.


  

IRS Begins Accepting Tax Returns Today - Monday, January 29th 2018.

IRS begins accepting Tax Returns Today, Monday, January 29th 2018.
 
Highlights to Note:

  • Even Though the New US Tax Law is in effect, Changes do not apply to 2017 Tax Returns.
  • Tax Payers can start submitting their Returns to the IRS as From Today.
  • You may be able to file for Free; The Sooner, you start Filing, the Better, as this is a precaution to Tax Fraud.
  • The Deadline for this Year's Tax Filing Returns is Tuesday, April 17th 2018.

W-2 and Form 1099 Form Tax Report Deadline for 2018.



W-2 Form; 1099 Form Filing.

As the Year is coming to an end and Tax Season is drawing closer, it is important to remember The Protecting Americans from Tax Hikes (PATH) Act of 2015 that was passed by Congress in 2015, which became effective last year. We had published a Detailed Article - https://www.linkedin.com/pulse/new-w-2-deadline-2017-business-owners-employers-take-note/

With this New Act, Employers and Small Businesses have January 31 Filing Deadline to submit Forms W-2 and W-3 to the Social Security Administration (Whether you file using Paper Forms or electronically).

IRS Increases 401K Contribution Limits by $500 from January 1st 2018.

 IRS Increases 401K Contribution limits by $500 from January 1st 2018  What this means for you. 
   The IRS had announced sometime in October, that effective from January 1 2018, the contribution limit for Employees who participate in 401(k), 403(b), most 457 plans and the Federal Government’s Thrift Savings Plan will be increased from $18,000 to $18,500.

  This is surely a Big Deal. As we all know, this extra $500 can help us more than we may think and it could also mean up to $70,000 more in your retirement account, assuming you decide a retirement age of 67 for yourself and at a 6 percent annual rate of return.

Turning your Passion into Business.

We grow up in life, structured to believe that, after we go through the school system, we graduate to work for Organizations. We often fail to realize that, we can use our knowledge and experience to start up our own Businesses, especially when most companies rarely allow their employees to become Business Owners. As individuals, we need to harness our passion and recreate the relentless entrepreneurial spirit in us, to launch us to where we are meant to be. 
 
Everyone is born with a gift; each of us has a passion and something that we are all excited about.

Intuit Firm of the Future Road Show( Baltimore).

It was Great Meeting with Heather Satterley, Certified QuickBooks Pro Advisor, Trainer & Educator and a 2016 Top 100 Pro Advisor. Training was really Insightful and Engaging. 

Get Paid What You're Worth.

Wow, The Busy Tax Season is over; we're back to Normal Business Activities. I would like to share with you, how you can always be in Demand and get paid what you're worth.

I visited an Eyebrow Threading Specialist recently and was amazed at how she attended to her Clients and the artistic way, she used the popular Thread, that we're all used to shape her Clients' Eyebrows. This was so amazing to me and it was funny, that as simple as it looked, she was making "Big Bucks" from this Trade, with all the Clients waiting to have their Eyebrow shaped and to think, that was all she did for a living was even more thrilling.

Tax Credits & Tax Deductions.

 We have only Few Days left to the end of Tax Season; Many of Our Clients ask if a Tax Credit is better than a Deduction. Just to enlighten us, A Tax Credit is a Dollar -For-Dollar Reduction of the Taxes you owe; For instance, A $100 Credit means you pay $100 less in Taxes.

  A Deduction reduces the Taxes, you owe by a Percent of every Dollar, you're allowed to deduct. You Calculate the worth of your Deduction by multiplying your marginal (Or Top) Tax Rate by the amount of the deduction.