Taxation

1stJanuary 2021

Taxation

Advantages of Consultation with a Professional Tax Accountant

Posted By:sginccpa

Professional tax services come with a lot of bonuses. Of course, there is the option of preparing and managing your taxes. But if you take the help of a qualified individual, you can secure a lot of benefits for your business. Many people also prefer to outsource this task to the specialist and the most… Continue reading Advantages of Consultation with a Professional Tax Accountant

24thDecember 2020

Taxation

Tax Extension Deadline 2020 – Reach April’s Deadline Ready

Posted By:sginccpa

What is Tax Extension Update 2020? The last date for filing taxes is still April 15, 2021, and considering the circumstances, there are chances that this date could be extended. However, you need to file a tax return before the due date. There are a lot of benefits to getting a tax extension. It is… Continue reading Tax Extension Deadline 2020 – Reach April’s Deadline Ready

27thOctober 2020

Taxation

Trump Reforms Tax Bill New Task For CPAs

Posted By:sginccpa

President Donald Trump signed another Tax bill into law in December 2017. How precisely the Trump Tax plan influences your Tax Bills relies upon your salary, your present filing status, and the deductions you take. The changes won’t influence your 2017 tax returns, yet President Trump says the lower rates could be felt in checks… Continue reading Trump Reforms Tax Bill New Task For CPAs

26thOctober 2020

IRS

IRS Offer In Compromise OIC tips to Settle Tax Debt (2020)

Posted By:sginccpa

Tax Debt is just like torture to taxpayers. Especially, when a person meets with financial hardships and he/she can’t pay taxes which causes huge tax liabilities. But Don’t be Panic, IRS offers an agreement that could be the solution to settle your tax debt when you can’t afford to pay your tax debt. This Tax Debt… Continue reading IRS Offer In Compromise OIC tips to Settle Tax Debt (2020)

26thOctober 2020

Taxation

Tax Return Preparation Checklist A Complete Guide to File Your Taxes

Posted By:sginccpa

Tax season set forward a lot of difficulties while getting gather all documentation that required to be convenient while taking a shot at your Tax Return. In this way, it’s a great opportunity to be mindful of the documents you have to prepare. Fortunately, a Tax preparation checklist lets you help to find and get things what… Continue reading Tax Return Preparation Checklist A Complete Guide to File Your Taxes

26thOctober 2020

Taxation

Late Tax Return Without Penalties

Posted By:sginccpa

The deadline to file your tax return is almost here. Important!!! Tax Filing due date supposed to be April 15 except for Maine and Massachusetts residents, they get an additional two days until April 17 because of local holidays it typically moved to the next business day in these states. Sooner or later consistently, Americans… Continue reading Late Tax Return Without Penalties

26thOctober 2020

Taxation

Instructions for Payer Form 1099 MISC before 2020

Posted By:sginccpa

Businesses are required to send copies of Form 1099 MISC to the IRS and the contractors if 10$ or more in royalties is paid by the business or 600$ or more in reimbursement to non-employees. Form 1099-MISC is payable by January 31st to report payments made the previous calendar year. An accounting firm can prepare and file… Continue reading Instructions for Payer Form 1099 MISC before 2020

26thOctober 2020

Taxation

Sales Tax Frauds and Penalties in Plano Texas

Posted By:sginccpa

Tax crime snips you. In Texas, Retailers must use taxes on personal property or taxable services when they collect sales from it. People must know the sales and use tax laws in Texas to avoid committing tax crimes. The inability to pay taxes in the wake of collecting sales can cause serious penalties. The “statute… Continue reading Sales Tax Frauds and Penalties in Plano Texas

26thOctober 2020

IRS

PayPal Rules for Issuing 1099 Forms

Posted By:sginccpa

Over the past few years, there have been a number of changes and updates regarding the reporting rules for the mysterious 1099 Forms. First, keep in mind that the “general rule” is that business owners must issue a Form 1099-MISC to each person to whom you have paid at least $600 in rents, services (including… Continue reading PayPal Rules for Issuing 1099 Forms

23rdOctober 2020

Taxation

LLC-vs-Inc-limited liability company versus corporation

Posted By:sginccpa

There are mainly three types of business entities in the United States. Mostly Startup owners consider it the same, but they are different. These are: 1. LLC stands for “Limited Liability Company” 2. Inc. or Corp Inc. stands for “Incorporation” and Corp as “corporation”, further divided into two types i. C-corp ii. S-corp New business owners often receive… Continue reading LLC-vs-Inc-limited liability company versus corporation