Category: Tax

March 31, 2021
Tax Time Preparedness: Individuals
Whether you are a new or returning client, or just searching the Internet for helpful advice, here are the initial items that all clients will need to provide in order to have their individual taxes done.  There may be other items specific to your tax situation, but this is a good starting list to cut […]
January 21, 2021
W4 and Federal Tax Withholding in 2021
The IRS has released its long-awaited changes to Form W-4. This will affect both accounting and human resource professionals as well as all employees needing to make changes to their tax withholding and those taking new jobs in 2021.   View the new IRS w4 form here.  You don’t have to have all your employees fill […]
January 21, 2021
Correct W-9 Form Completion and Best Practices
The IRS requires Form 1099-MISC to be filed for all individuals to which you have paid more than $600 in rent, services, or payments to an attorney. The services item only applies if the payee is not an employee. Other categories apply, but these three are the most common that our accountants see each year. […]
January 20, 2021
W4 and Federal Tax Withholding in 2021
The IRS has released its long-awaited changes to Form W-4. This will affect both accounting and human resource professionals as well as all employees needing to make changes to their tax withholding and those taking new jobs in 2020. View the new IRS w4 form here.  You don’t have to have all your employees fill […]
January 2, 2021
Top Mistakes Cleveland Business Owners make on their Taxes
Top Mistakes Cleveland Business Owners make on their Taxes Business taxes can be incredibly complicated, and mistakes on your tax return can lead to potential issues with the Internal Revenue Service (IRS) or even worse, unnecessarily inflate your tax liability. Wondering if you’re completing your tax return correctly? To get an idea of how accurate […]
January 2, 2021
Who Gets Tax Notices and Correspondence?
Who Gets Tax Notices and Correspondence? Tax notices only go to, you, the client. Even if an accountant e-filed your return and even if the “may discuss this return with preparer” box was ticked, notices only go to you. Similarly, with payroll. Even if you have a payroll company or an accountant processing payroll for […]
January 2, 2021
Tax Write Off Guide for Home Office Deductions & Expenses
Tax Write Off Guide for Home Office Deductions & Expenses If you run a business out of your home, you can attempt to reduce the amount of self-employment tax you’ll pay by calculating the business use of your home. As long as you’ve had a net profit on your business, you can take advantage of […]
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