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So far cozbycpa has created 358 blog entries.

What is Estimated Taxes? | Tax Lingo: Defined

Most individuals have a portion of their pay withheld by their employer to be paid to the IRS. However, in certain situations, such as when you are self-employed and receive a 1099, this process happens a little differently. Estimated taxes are payments made quarterly to the IRS directly from an individual. This is to make sure [...]

Financial Safety is an Important Part of Disaster Preparedness

This article was published by the IRS. Before a natural disaster strikes, taxpayers are encouraged to prepare, if possible. This includes developing evacuation plans, putting together kits of essential supplies and putting financial safety measures in place. To help protect their financial safety in a disaster situation, taxpayers should: Update emergency plans. A disaster can strike [...]

How to Start Saving for College in 3 Easy Steps

Raising children brings with it many exciting milestones. Paying for college isn't one of them. If you are worried about paying for your children's college, here is a guide to help you get started: Step 1: Consider opening a college savings account. There are currently two main types, a Coverdell Education Savings Account and a 529. [...]

Who Qualifies for Which New Employer Tax Credit?

This article was published by the IRS. Many businesses affected by COVID-19 qualify for tax relief though credits or deferrals. Here's a breakdown of which employers qualify for these new tax credits and the deferral of employment tax deposits and payments through December 31, 2020. Credits for paid sick and family leave Businesses and tax-exempt organizations [...]

Getting Married?

The following article was published by the IRS. Are you recently married, or planning to get married before the end of this year? Marriage is a life event that will also affect your federal taxes. Here's how: Getting married means selecting a different status when filing your taxes. Why? Because if you're married as of December [...]