Many taxpayers are under the assumption that it’s bad to delay filing your taxes by filing an extension. While individual tax returns are due April 15 each year, you can file an automatic 6-month extension so that the return is not due until October 15. The rumor that you have a better chance of getting […]
IRS Letter About Advanced Child Tax Credits
The IRS announced that it will be sending out letters to everyone who received advance Child Tax Credit payments. Please be on the lookout for this letter and DO NOT throw it away. IRS Letter 6419 will go out January 19, 2022. It will show the total amount of advance Child Tax Credit payments that […]
43 Life Events That May Affect Your Taxes and Accounting
Your tax professional will ask you about what’s happening in your life, whether in the form of an interview, intake form, or annual tax organizer. Please know they are not being overly nosy! They need to know when life events occur because they often make a difference in how much tax you pay. It’s usually […]
The Top 5 Pitfalls of Cannabis CEOs
5 avoidable mistakes committed by cannabis companies 1. Treating Investors and Employees Badly The cannabis business is a newly legalized industry that is growing astronomically. To that end, poor accounting practices, lack of executive direction and leadership, an ineffective HR system, and a team that is improperly or under-trained will sink the ship, just as […]
Time Matters with Tax Refunds: Don’t Miss Out!
If you have not yet filed your 2015 tax return and have a refund coming, time is running out! There is no penalty for filing a late return that qualifies for a refund! The IRS estimates over a million Americans fail to file a tax return every year. By not filing, many of these people […]