Do You Need a New IRS Identity Verification?
In November of 2021, the Internal Revenue Service launched an improved identity verification and sign-in process that enables more people to securely access and use IRS online tools and applications.
Intimidated by Accounting? Five Simple Steps Are All You Need
While running your own small business offers plenty of upsides, it also means you’re responsible for every aspect of operations, including the parts you think are beyond your capabilities – or just plain boring.
Record Expenses in QuickBooks Online and On Your Phone
The money you spend to run your business must be recorded conscientiously for your taxes and reports. Here’s how to do it.
January 2022 Individual Due Dates – WorthTax
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.
8 QuickBooks Online Tips
There are always more things to learn about the applications we use every day. Here are some tips for expanding your use of QuickBooks Online.
Understanding the Taxation of Cryptocurrency Transactions
If you have purchased, owned, sold, gifted, made purchases with, or used cryptocurrency in business transactions, there are certain tax issues you need to know about. Unfortunately, there are some unanswered questions and little specific guidance offered by the IRS other than in Notice 2014-21 and Revenue Ruling 2019-24. This article includes the guidance from the Notice as well as general tax principles that apply.
Education Credits are for Children? Think Again!
If you think that education credits are just for sending your children to college, think again—the credits are available to you, your spouse (if you are married), and your dependents. Even if you or your spouse is only attending school part-time, you still may qualify for a tax credit.
The Ins and Outs of Bookkeeping: All the Best Practices
Handling bookkeeping on your own can quickly become a full-time job, which is a bit of an issue since you already have one of those on your plate.
Fall Tax Planning May Be Wise
Taxes are like vehicles in that they sometimes need a periodic check-up to make sure they are performing as expected, and if ignored, can cost you money. That is true of taxes as well, especially for 2021, as the pandemic benefits begin to wane and President Biden’s tax proposals loom.
Were You Affected by a Disaster Loss?
With the wildfires in the west, hurricanes, and flooding in the southeast and eastern seaboard, we have had several presidentially declared disaster areas this year. Use the FEMA site to determine if you are within a federally declared disaster area. You can also use the Address Look-Up provided by the Federal government.