Happy Labor Day from all of us at Ballast Tax & Business Services!
Hours of operation reminder – Ballast Tax & Business offices will be closed Monday. September 7, in observance of Labor Day.
To help protect their financial safety in a disaster situation, taxpayers should do the following things according to the IRS: https://buff.ly/2EItRLP
ICYMI - Millions of taxpayers receive a tax refund interest payment. In mid-August interest payments were sent to nearly 14 million individual taxpayers. People who got these payments filed their 2019 federal income tax returns by the July 15 deadline and were owed refunds.These interest payments averaged about $18. The IRS issued most of the payments separately from tax refunds. #IRSTAXTIP https://buff.ly/3bdzH3s
On Sept 3, The Internal Revenue Service is holding a free webinar designed to give an overview of Opportunity Zones and to discuss related tax benefits for investors. Opportunity Zones are an economic development tool that allows people to invest in distressed areas in the United States. https://buff.ly/3jukYnR
Whether it’s something they’ve been doing for years or something they just started to make extra money, taxpayers must report income earned from hobbies in 2020 on next year’s tax return. #IRS #TAXTIP
BALLASTTAXSERVICES.COM
Earning side income: Is it a hobby or a business? – Ballast Tax Services
IRS extends Economic Impact Payment registration deadline for non-filers to Nov. 21 https://buff.ly/314NS7p
No one can fully prepare for a disaster, but knowing what resources are available beforehand can make the recovery a little easier. #IRSTAXTIPS https://buff.ly/34d614K
Do you know your IRA and Retirement Plan Limits for 2020?
BALLASTADVISORS.COM
IRA and Retirement Plan Limits for 2020 – Ballast Advisors
Here's a nice breakdown of some "spooky" investing terms ;) "Once again, it's time for Halloween. Pumpkins are turning up on doorsteps and small children are dressing like ghosts and superheroes. Let's get into the spirit of the season and look at some of the more macabre and bloodcurdling terms circulating in the world of investment."
INVESTOPEDIA.COM
Haunting Wall Street: The Halloween Terminology Of Investing
The Rule of 72: How Long will it take to double your money?
FACEBOOK.COM
Leaving Facebook
Business owners should visit https://buff.ly/H6wy3G for help with tax actions when closing a business.
Did you Know??? The recent executive order and related IRS guidance expand the payroll tax deferral opportunity — generally allowing employers to defer withholding and payment of the employee's 6.2% share of the Social Security tax for payroll dates that fall on or between September 1, 2020, and December 31, 2020.
BALLASTADVISORS.COM
Temporary Payroll Tax Deferral: What You Need to Know – Ballast Advisors
Happy Halloween!
How does Santa’s accountant value his sleigh? Net Present Value. #FridayFunny
ICYMI, Enhancements to the normal charitable gifts deduction rules in 2020 have been extended through 2021.
• For those who itemize deductions, the limit on the charitable gifts deduction has been increased to 100% of AGI for direct cash gifts to public charities.
• For nonitemizers, a $300 (increased to $600 in 2021 for joint returns) charitable deduction for direct cash gifts to public charities is available (in addition to the standard deduction).
Read more about Consolidated Appropriations Act (CAA) 2021
BALLASTADVISORS.COM
Consolidated Appropriations Act Provides Relief to Individuals and Businesses – Ballast Advisors
What you need to know about the Consolidated Appropriations Act (CAA) 2021 -- provisions assist both individuals and businesses during the ongoing pandemic. Read More.
BALLASTADVISORS.COM
Consolidated Appropriations Act Provides Relief to Individuals and Businesses – Ballast Advisors
Need some discipline? Here are 10 money saving tips you should consider implementing in 2021 to help achieve your personal financial planning goals.
BALLASTADVISORS.COM
10 Tips To Help You Save More in 2021 – Ballast Advisors
Don’t forget to check your credit reports once a year for free at
ANNUALCREDITREPORT.COM
Annual Credit Report.com - Home Page
Whether it’s something they’ve been doing for years or something they just started to make extra money, taxpayers must report income earned from hobbies in 2020 on next year’s tax return. #IRS #TAXTIP
BALLASTTAXSERVICES.COM
Earning side income: Is it a hobby or a business? – Ballast Tax Services
