Let's get the weekend started. Friday from IRS Solutions Valencia Inc.
No matter what the reason for your move may be, it's important to be aware of the implications for your taxes when you relocate to a new state. In this article, learn more about establishing residency, part-year tax returns, and more.
FORMERIRS.COM
How to File Taxes After Moving to a New State
If you have lost your job, there are a number of tax issues that you may encounter. They include severance pay, unemployment compensation, health insurance, pension plans and possibly a home sale. How you deal with these issues can profoundly impact your taxes and finances.
FORMERIRS.COM
Tax Consequences of Losing Your Job
Transform your life. Wednesday Wisdom from IRS Solutions Valencia Inc.
U.S. citizens and resident aliens with financial interests in or authority over one or more foreign financial accounts (e.g., bank accounts or securities) may need to report these relationships to the U.S. Treasury's Financial Crimes Enforcement Network or face severe penalties.
FORMERIRS.COM
Foreign Account Reporting Due October 15
If you're like most entrepreneurs, you probably cringe at the thought of starting a new business in the midst of a recession. In reality, these periods of downturn may actually be the ideal time to launch your new startup.
FORMERIRS.COM
Actually, a Recession is a Great Time to Launch That New Startup
The SBA has released yet another simplified application for PPP loan forgiveness: SBA Form 3508S. This form can only be used if the total PPP loan amount received by the borrower from their lender was $50,000 or less.
FORMERIRS.COM
The SBA Issues a Simplified PPP Loan-Forgiveness Application
If you have lost your job, there are a number of tax issues you may encounter. How you deal with these issues can profoundly impact your taxes and finances. Watch this video to learn more about some typical issues.
Get ready for the week: IRS Solutions Valencia Inc. has motivation for your Monday.
Let's get the weekend started. Friday from IRS Solutions Valencia Inc.
Gambling income can affect your taxes in more ways than you might believe, including causing your Social Security income to be taxed, reducing your health care subsidies through government marketplaces, paying higher Medicare B & D premiums, having additional filing requirements, and limiting or reducing a number of tax deductions and credits.
FORMERIRS.COM
Gambling and Tax Gotchas
Extended individual tax returns due
If you filed IRS Form 4868 on or before the April filing
deadline, the extension gives you until October 15th
to file your return. An extension doesn’t however,
give you more time to pay taxes you owe. When
you file for the extension, you can estimate what
you owe and send some or all of that with your
extension request. The IRS’ late-payment penalty
is normally 0.5% per month of the outstanding tax
not paid by the April deadline. #taxreminder #IRSSolutions
Wednesday Wisdom and IRS Solutions Valencia Inc. = Success
An individual must have compensation in order to contribute to an IRA, unless the individual is a non-working or low-earning spouse who is allowed to contribute to his or her own IRA based upon the compensation of the working spouse.
FORMERIRS.COM
Don't Miss the Opportunity for a Spousal IRA
A little inspiration from IRS Solutions Valencia Inc. to start your week.
First, there was the usual April 15th deadline. Then, there was July 15th. If you filed for an extension, your deadline was October 15th - and now that date has come and gone. What happens now if you missed it?
FORMERIRS.COM
What Happens if I Missed the October 15th Tax Extension Deadline?
IRS Solutions Valencia Inc. has a fun tax fact to share with you.
Operating a SMB is hard work - and it's vital to know the financial health of your business at any time. Whether you're assembling your financial reports yourself or have hired professional help (like us), here are 12 metrics that can help you monitor your success.
FORMERIRS.COM
12 Financial Metrics Small Business Owners Should Track
Learn about taxes from your friends at Valencia based IRS Solutions Valencia Inc..
Tap into your full potential. Wednesday Wisdom from IRS Solutions Valencia Inc.
Some folks have been tapping or suspending their retirement savings to make ends meet during this COVID-19 pandemic, and although understandable, it is important to resume savings as quickly as financially possible. Still others have simply been ignoring the need to save for their retirement, which can have an unpleasant result when it comes time to retire. Many tax-benefitting retirement options are available.
FORMERIRS.COM
Don't Fall Behind in Saving for Retirement
Small business owners: as we inch closer to the end of the year, it's a great time to be thinking about tax planning strategies for your business. Here are some ideas that can be beneficial at any time of year.
FORMERIRS.COM
Preparing for 2021: Tax Planning Strategies for Small Business Owners
It's go time! Valencia based IRS Solutions Valencia Inc. has some motivation for you today.
We all have our favorite game shows such as Wheel of Fortune, The Price is Right, and Let's Make A Deal, and we love to have the contestants win big. Unfortunately, those winnings are taxable on the contestant's state and federal tax returns. See what can happen by watching this video.
Let's get the weekend started. Friday from IRS Solutions Valencia Inc.
IRS opens up the use of ID verification tax filing numbers to taxpayers nationwide as a means of protection against filing fraud. These numbers must be applied for and identities verified before issuance.
FORMERIRS.COM
IRS Offers New Identity Protection for Taxpayers
Get inspired. Some Wednesday Wisdom from Valencia based IRS Solutions Valencia Inc.
President-Elect Biden released his "American Rescue Plan" on January 14. It is a wish list of proposals he wants Congress to enact to address the COVID-19 pandemic and associated economic crisis.
FORMERIRS.COM
How Biden's Rescue Plan Might Impact Your Taxes
Looking for a sign? Here's your Monday Motivation from Valencia based IRS Solutions Valencia Inc.
Congress has authorized a second draw for PPP loans. Watch this video for a short overview of what you can expect.
