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Third Quarter Estimated Taxes Payments Are Due September 15th, 2021.
A friendly reminder that third quarter estimated tax payments are due to the IRS on September 15th, 2021.
J. Rosio Tax Services, LLC to Assume Clients of Neifach & Associates, PLLC
Effective August 17th, 2021
Was your 2019 Small Business Income Tax Return Filed on Time? No? You Are Not Alone.
IRS notices are going out now informing small business owners that their 2019 tax returns were filed late. And oh yeah wait until you see the penalties and interest. Here is what to do. We recently had a prospective new client call us. He was just notified by the IRS that his 2019 1065 Partnership …
Was your 2019 Small Business Income Tax Return Filed on Time? No? You Are Not Alone. Read More »
Selling Your Home? Make Sure You Know Sec 121 and Cost Basis
With homes prices soaring in this red-hot real estate market there are always tax implications to keep in mind. Now more than ever homeowners need to be familiar IRS rules and how they will impact the tax they may owe. Understanding the Section 121 Exclusion and Cost Basis of your home are keys to mitigating …
Selling Your Home? Make Sure You Know Sec 121 and Cost Basis Read More »
IRS People First Initiative COVID-19 Relief
IR-2020-59, March 25, 2020WASHINGTON — To help people facing the challenges of COVID-19 issues, the Internal Revenue Service announced today a sweeping series of steps to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions.“The IRS is taking extraordinary steps to help the people of …
Top 5 IRS Tax Relief Strategies
Tax problems often arise for many people, but fortunately, there are solutions available for every tax problem. If you owe the IRS over $10,000 and cannot pay your balance in full, contact Joseph Rosio at Plano Tax Prep to discuss which one of these options is right for you and your family. Tax Solutions …
How Married Filing Separate Works in Texas
Filing personal taxes in community property states as Married Filing Separately (MFS) can be complicated. Certain states have laws about community property defining how they expect MFS couples to share, or allocate income. These states are: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. Separate… but Equal In separate property states, the computations …
Did You Receive A 1099-MISC But Aren’t Self-Employed?
If you are considered an independent contractor, you will get a 1099-MISC form from the company you provided services for – so long as the payments were at least $600 for the prior year. For many independent contractors, this means filling out a Schedule C, which tallies up the income earned and any deductible expenses. …
Did You Receive A 1099-MISC But Aren’t Self-Employed? Read More »
IRS Business Mileage Deduction Requirements
If you are an independent contractor or W-2 employee who uses your personal auto for business and you are NOT reimbursed by your employer (uncommon), you can deduct business mileage at the rate of 54 cents per mile on 2016 on your tax return. That’s right! If you use your vehicle for business purposes, you …
