Reminder:
Pay attention to your standard deduction for the 2020 tax year. The IRS has bumped it to $12,400 for singles, up from $12,200 in the prior year. The standard deduction for married joint filers will be $24,800, up from $24,400 in 2019.
Business Start Up Worksheet:
Where to start and where to stop!
Reminder:
Pay attention to your standard deduction for the 2020 tax year. The IRS has bumped it to $12,400 for singles, up from $12,200 in the prior year. The standard deduction for married joint filers will be $24,800, up from $24,400 in 2019.
Business Start Up Worksheet:
Where to start and where to stop!
HAPPENING NOW
Now Offering Bookkeeping
Small Business Bookkeeping Tips:
Need help with QuickBooks Online?
Call today for help and for price.
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IRS #COVIDreliefIRS on Twitter
Below is a link to give reviews to our Google page. If you have not gave us a review on Google or Facebook please help us out. Reviews now days truly help small businesses out. We truly appreciate each and every one for the support.
With google you do have to sign in to give a review, with Facebook you can be signed into your Facebook page to give a review.
The link is for Google:
http://ow.ly/R8RA50BQldy
IRS Update:
The deadline for extended calendar year corporate and individual returns is Thursday, October 15, 2020. If Form 1040 or 1040-SR is timely filed but rejected by the IRS, there is a five-day transmission perfection period to correct and retransmit the return. When a timely filed rejected individual return is accepted during the five-day transmission perfection period, it will be deemed as timely filed.
If Form 1120 is timely filed but rejected by the IRS, there is a ten-day transmission perfection period to correct and retransmit the return. When a timely filed rejected corporate return is accepted during the ten-day transmission perfection period, it will be deemed as timely filed. The perfection period is never extended regardless of weekends or holidays.
Small Business Bookkeeping Tips:
Need help with QuickBooks Online?
Call today for help and for price.
Small Business Bookkeeping Tips:
Need help with QuickBooks Online?
Call today for help and for price.
Will be out of the office in a meeting the following days:
Tuesday Oct 20th - 9am to 10:45am
Thursday Oct 22nd - 10am to 12:45pm
Wednesday Oct 28th - All day
If you have questions during those days please email me at wrea@westonstaxservices.net
Small Business Bookkeeping Tips:
Happy Thanksgiving Day! Stay saf
We will be closed the following day:
Nov 26th-Thursday
Nov 27th-Friday
Have an amazing weekend and we will be back open on Nov 30th.
We knocked some walls down and did some rearranging. Let us know what you think.
We are your one stop shop for business needs. Call today!
Please read as you will be expected to wear a mask when entering the building. Thank you for your cooperation.
FOURSTATESHOMEPAGE.COM
Mask Mandate is reinstated for the City of Joplin, lasting 100 days in current form to February 28, 2021
We are your one stop shop for business needs. Call today!
We will be closed tomorrow February 8th due to the weather. We want you to stay safe and we will return any calls Tuesday the 9th when we come back into the office!
Stay safe!
We have had a lot of questions about the following:
*You can not claim that you didn't get the stimulus on your 2020 tax return if you got it, that would IRS fraud.
*As a reminder if you was not able to claim your child as a dependent last year you will not get a stimulus for that child.
*If you owe child support there might not be an option to use the injured spouse this year. Stimulus money will go straight to child support that is owed.
*The IRS will start accepting tax returns starting February 21st. You file early but it wont be accepted until after the day above.
Hope this helps clear some questions up.
Tax Preparation Checklist for Cannabis Operators:
Follow this checklist to gather everything you need to fill out your cannabis tax return.
You will need your tax returns for prior two years, plus copies of your sales, excise, and local tax returns.
Make sure you have your income statements ready as well as your P&L and balance sheets.
Watch out for expenses that can't be deducted under the 280E regulation.
Speak to one of our experts for help filing your cannabis taxes.
IRS Start Accepting Returns:
https://www.irs.gov/newsroom/2021-tax-filing-season-begins-feb-12-irs-outlines-steps-to-speed-refunds-during-pandemic
Helpful Information:
https://www.irs.gov/newsroom/irs-operations-during-covid-19-mission-critical-functions-continue
We have had a lot of questions about the following:
*You can not claim that you didn't get the stimulus on your 2020 tax return if you got it, that would IRS fraud.
*As a reminder if you was not able to claim your child as a dependent last year you will not get a stimulus for that child.
*If you owe child support there might not be an option to use the injured spouse this year. Stimulus money will go straight to child support that is owed.
*The IRS will start accepting tax returns starting February 21st. You file early but it wont be accepted until after the day above.
Hope this helps clear some questions up.
