by Steve Perry | Aug 16, 2023 | Tax Planning, Tax Preparation
You probably think the IRS has received your tax return… but are you SURE? I can’t overstate the importance of ensuring IRS correspondence acceptance. Here’s why: Imagine this. You’ve finally finished your tax return preparation for the year!...
by Steve Perry | Jul 19, 2023 | Tax Planning, Tax Preparation
The hot summer sun can make it costly to cool your home—especially if you live in a warmer climate. Thankfully, if you made any improvements to your home to make it more energy efficient recently you could see some relief in the form of home energy tax...
by Steve Perry | Apr 11, 2023 | CARES Act, Representation, Tax Planning, Tax Preparation
The most common answer to this is 3 years from the date you filed. But there’s some grey area. Having the correct records could save you thousands of dollars one day, so you want to do your due diligence and be smart about what you keep in your filing cabinets...
by Steve Perry | Oct 23, 2020 | CARES Act, Representation, Tax Planning, Tax Preparation
Back in March, President Trump signed the Coronavirus Aid, Relief, and Economic Securities (CARES) Act. This $2.3 trillion relief package was designed to help Americans get through this pandemic. Under the Act, a new loan program was created called the...
by Steve Perry | Aug 30, 2020 | Small Business Accounting, Tax Planning, Tax Preparation
Businesses can deduct most of the costs of doing business even if it shows a loss on the tax return. If a taxpayer has a hobby that generates income, direct expenses can also be deducted. This is where the similarity ends. A hobby cannot lose more than gross...
by Steve Perry | Aug 21, 2020 | Tax Planning, Tax Preparation
There are over 900,000 tax preparers in the United States. These preparers include Certified Public Accountants (CPA), Enrolled Agents (EA), and unlicensed PTIN holders. The only thing all those who get paid to prepare tax returns have in common is that...