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Tax Tip, Business Help, Individual Help, Tax Payment, Tax Payment Help, Loans, Online Payment Plans, Short-term Payment Plan, Long-term Payment plan, Delayed Collection, Penalty Relief, Offer in Compromise Ana Mendez Tax Tip, Business Help, Individual Help, Tax Payment, Tax Payment Help, Loans, Online Payment Plans, Short-term Payment Plan, Long-term Payment plan, Delayed Collection, Penalty Relief, Offer in Compromise Ana Mendez

There is Always a Way to Pay Your Taxes

Taxes usually aren’t much fun. They’re even less fun when one cannot afford to make payments without serious financial hardship. Don’t worry, the good old IRS has some ways to still get its money. This article, written by the IRS, details some avenues for paying your taxes when you can’t pay all at once, including getting a loan, payment plans, penalty relief, and more.

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Tax Tip, New Year, End of Year, W-2, W-2G, 1098-C, 1099-NEC, 1099-MISC, 1099-INT, 1099-DIV, 1099-B, 1099-C, 1099-K, K-1s, 1098 Ana Mendez Tax Tip, New Year, End of Year, W-2, W-2G, 1098-C, 1099-NEC, 1099-MISC, 1099-INT, 1099-DIV, 1099-B, 1099-C, 1099-K, K-1s, 1098 Ana Mendez

Happy New Year!

Happy New Year!

And get ready for the tax filing season.

Hopefully, you followed some of the suggestions outlined in Publication 552 to organize your records. If you did, great! This will make filing your tax returns a lot easier this year. It also means that you and your tax advisor can spend more time on tax and financial planning issues for 2023 vs. looking back to 2022.

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Tax Tip, IRS, Inflation Reduction Act, IRS Agents, Audits, Audit Threshold, Statue of Limitations, IRS System, Backlog, General, Uncategorized, Business Consulting, Business Advice Ana Mendez Tax Tip, IRS, Inflation Reduction Act, IRS Agents, Audits, Audit Threshold, Statue of Limitations, IRS System, Backlog, General, Uncategorized, Business Consulting, Business Advice Ana Mendez

The IRS Bought What With $80 Billion?

I’m sure many of you have heard that the IRS has received $80 billion in funding. There’s been a lot of talk about what that means, with some saying that there will be over 80,000 new agents with guns and that there’s going to be a lot of audits. This informative article from The Wall Street Journal lays out what exactly is going to change and provides helpful context. We just hope it means they’ll finally start answering our phone calls without having to hold for 3 hours.

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Tax Tip, Year End, Year End Tax Planning, Roth IRAs, 401(k), Income Tax Witholdings, Standard Deduction, Itemized Deduction, Charitable Giving, Roth IRA Conversions, Inflation, General Ana Mendez Tax Tip, Year End, Year End Tax Planning, Roth IRAs, 401(k), Income Tax Witholdings, Standard Deduction, Itemized Deduction, Charitable Giving, Roth IRA Conversions, Inflation, General Ana Mendez

Time for 2022 Year-End Tax Moves

With a few exceptions, year-end tax planning must be completed by this New Year’s Eve. Some notable exceptions include contributions to certain retirement plans such as IRAs and Solo 401(k) plans and also HSA plans. Payments to these plans have various 2023 deadlines.

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Tax Tip, Independent Contractor's, Taxes, Pay Taxes, Electronic Tax Filing, Estimating Fedeal Tax Liability, Calculating Self-Employment Taxes, Calculating Income Taxes, Uncategorized, General, Business Consulting, Business Advice Ana Mendez Tax Tip, Independent Contractor's, Taxes, Pay Taxes, Electronic Tax Filing, Estimating Fedeal Tax Liability, Calculating Self-Employment Taxes, Calculating Income Taxes, Uncategorized, General, Business Consulting, Business Advice Ana Mendez

The Independent Contractor's Tax Survival Guide

Welcome to the tax jungle, independent contractors! In this week’s tax tip we offer you a survival guide against the most dangerous of predators, the IRS. This article, provided by Forbes Advisor, instructs how to calculate the federal taxes you may be dealing with, including: self employment tax and income tax, and all the essentials you need to survive next tax season.

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