Did you miss a credit or deduction, or need to correct something else on your tax return for this year or past years? If so, you can file an amended tax return. Here are five things you need to know about amending a tax return: First, be sure to identify the year of the return you're [...]
This article was published by the IRS. The Internal Revenue Service is reminding IRA owners age 70½ or over of their option to transfer up to $100,000 to charity tax-free each year. These transfers, known as qualified charitable distributions or QCDs, offer eligible older Americans a great way to easily give to charity before the end [...]
Setting up the right reminders within QuickBooks can help keep cash flow moving, which is critical in scaling your growing business. One of the most awkward and uncomfortable situations in business is having to remind clients about late payments on a bill or open invoice. Even harder is trying to respectfully request immediate payment without the [...]
This article was published by the IRS. Living with a disability can come with additional expenses. Achieving a Better Life Experience accounts are authorized tax-advantaged 529A accounts that help disabled people pay qualified disability-related expenses. Here are some key things people should know about these accounts. Annual contribution limit The limit remains $15,000 in 2020. Certain [...]
An Individual Taxpayer Identification Number, or ITIN for short, is for people who have a federal income tax filing or reporting requirement, but who are not eligible for a Social Security number. Taxpayers who need an ITIN can mail a completed Form W-7, along with the required identification documents and federal tax return, to the IRS. [...]
