May 11 – Social Security, Medicare and Withheld Income Tax File Form 941 for the first quarter of 2026. This due date applies only if you deposited the tax for the quarter in full and on time. May 15 – Employer’s Monthly Deposit Due If you are an employer and the monthly deposit rules apply, […]
May 11 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during April, you are required to report them to your employer no later than May 11. You can use IRS Form 4070 or your own statement that includes your signature; name, address […]
There’s a lot of noise around AI right now. Some of it is about job loss. Some of it is about disruption. Most of it is not particularly helpful when you are trying to run a business day-to-day. The real question is more practical. Can this help you operate more efficiently, reduce operating costs, and […]
“Kiddie Tax” is a term that refers to the tax imposed on the unearned income of children. It was Introduced as part of the Tax Reform Act of 1986. The Reason Behind Kiddie Tax Its primary purpose is to prevent families from exploiting a lower tax rate by shifting income to their children to take […]
For a period of time, IRS activity felt quieter. Response times were longer. Enforcement felt less visible. Fewer taxpayers were hearing from the IRS directly. Many people got used to that environment. Now things are shifting. Not all at once, but steadily. More notices are being issued. More requests for clarification are being sent. More […]
January 15 – Employer’s Monthly Deposit Due – If you are an employer and the monthly deposit rules apply, January 15 is the due date for you to make your deposit of Social Security, Medicare, and withheld income tax for December 2025. This is also the due date for the nonpayroll withholding deposit for December […]
January 2 – Time to Call For Your Tax Appointment – January is the beginning of tax season. If you have not made an appointment to have your taxes prepared, we encourage you to do so before the calendar becomes too crowded. January 12 – Report Tips to Employer – If you are an employee […]
There’s nothing quite like opening the mailbox, seeing an envelope with “Internal Revenue Service” printed on it, and feeling your stomach drop. Even people who are perfectly organized — even people who’ve done everything right — feel the same jolt of panic when they receive an IRS notice. But here’s the truth:Most IRS notices are not […]
Most people think their financial professional focuses on the past: last year’s tax numbers, last quarter’s profit, last month’s expenses. That’s the compliance world. It’s essential, of course. But it’s focused on what has already happened. Advisory is something different.Advisory is about shaping what comes next. It’s a shift from “Here’s your report” to “Here’s […]
In today’s digital age, social media serves as a hub of information on almost every topic imaginable, from cooking recipes to financial advice, including taxes. However, as accessible as these platforms are, they pose a significant risk when used as a source for tax advice. Misleading or just plain wrong tax advice on social media […]