Know the amount of your 2021Covid related Economic Impact Payment (EIP) Last year there was a lot of back and forth over the amounts you received from the US Treasury for your Recovery Rebate Checks or EIP.  The IRS has created a portal to allow you access to the information you need.  This portal has all of the details of your tax account, shows your prior filed tax return amounts, and gives you access to the EIP amounts received.  Access your IRS Account here. The above video details how to access the account and shows you how to access your EIP amounts. If you are married ..read more

Get the details on your Advanced Child Tax Credit Coming into the 2022 filing season, knowing the details needed to complete your return are very important.  Access the Child Tax Credit Update Portal and get access to all you need to know. Watch the above video for tips on navigating the portal site. In addition the IRS will be sending out Letter 6419 in January giving you the details of the payments you have received on the Advanced Child Tax Credit.  This will be used to reconcile the amount received vs the amount due. If you are married, we you and your spouse need to sign up f ..read more

Here are your 2022 Mileage rates The 2022 business mileage rate is 58.5 cents/mile driven for business use.  That is up 2.5 cents from 2021 rate Qualified active-duty Armed Forces members for medical or moving purposes, the rate is 18 cents/mile driven, up 2 cents. Performing service for charitable organizations,  the rate is set by statute and remains unchanged from 2021, at 14 cents/mile driven ..read more

Be prepared for the 2022 tax filing season As we await the date the IRS will open efiling and the 2022 filing season, lets be in the know when your return(s) are due. Yes the individual filing deadline is still the 15th day of the 4th month, but that day again falls on emancipation day in DC.  With that the deadline will be the following business day. Pass-through returns – S-Corporations (1120S) and partnerships (1065) Due: April 18, 2022 Extension returns due: October 15, 2022 Individual (1040) and C-Corporation ( 1120) Due: March 15, 2022 Extension returns due: September 15, 2022 &nbs ..read more

Stressed out and overly charged children create stressed out parents. You have to work, care for the house, and ensure the kids get their school work done.   Here is a great website with tons of resources for parents.   https://confidentparentsconfidentkids.org/about-the-blog/   Post by Wendy Kimelman ..read more

Yoga can be a great way to reduce stress but for people who may not already use Yoga, it can feel uncomfortable or intimidating.  Yoga by Adrienne is very easy to start and use.  She is gentle and explains how to use yoga in a user friendly way.  This particular video is specific to using yoga for anxiety.     ..read more

U.S. Government Provides Relief to Individuals, Businesses in Midst of COVID-19 Crisis On March 27, President Donald Trump signed into law a historic $2 trillion stimulus package designed to provide economic relief to individuals and businesses affected by the coronavirus pandemic. Our aim in this alert is to give a brief overview of both the tax and non-tax provisions of the government’s new stimulus legislation, including what type of assistance is available for individuals and businesses, how to apply for it, and what to do if you become unemployed. The summary is for businesses, we will ..read more

U.S. Government Provides Relief to Individuals, Businesses in Midst of COVID-19 Crisis On March 27, President Donald Trump signed into law a historic $2 trillion stimulus package designed to provide economic relief to individuals and businesses affected by the coronavirus pandemic. Our aim in this alert is to give a brief overview of both the tax and non-tax provisions of the government’s new stimulus legislation, including what type of assistance is available for individuals and businesses, how to apply for it, and what to do if you become unemployed. The summary is of the Paycheck Protecti ..read more

U.S. Government Provides Relief to Individuals, Businesses in Midst of COVID-19 Crisis On March 27, President Donald Trump signed into law a historic $2 trillion stimulus package designed to provide economic relief to individuals and businesses affected by the coronavirus pandemic. Our aim in this alert is to give a brief overview of both the tax and non-tax provisions of the government’s new stimulus legislation, including what type of assistance is available for individuals and businesses, how to apply for it, and what to do if you become unemployed. The summary is for individuals, we will ..read more

The US Treasury Department and the IRS has formally announced the official extension of the April 15th tax filing deadline due to the COVID-19 pandemic.  The new extended deadline for file and pay all taxes due April 15th is now July 15th.  This extension is automatic, there is nothing needed to be submitted.  The October 15th extension deadline still applies and the extension request must be submitted by the new extended July 15th deadline. Most states are complying with this extension, we will keep you informed of any changes. So you are asking how does this apply to me?  ..read more