In order to claim business use of a vehicle, you need to utilize either the Standard mileage rate method or the Actual expenses method. You may have a larger tax benefit of one or the other, so it’s a good idea to calculate both if you qualify…
Tax Deadline: April 18, 2023 Individual and C-Corporation tax returns are due Tuesday, April 18th, 2023 (as the normal deadline of the 15th falls on a weekend and Monday the 17th is the Emancipation Day holiday in the District of Columbia). Most tax professionals are…
Businesses that file as an S-Corporation on Form 1120S or as a Partnership on Form 1065 have a tax return filing deadline of March 15th. Late filing penalties are $220 PER Partner or Shareholder PER MONTH (or part of the month, even 1 day) for late filed business tax…
Filing a complete and accurate tax return is the best way to ensure receiving the refund is a smooth process or helping to curb receiving IRS notices. 1. Gather Personal Information Social Security numbers and the date of birth for everyone on the tax return…
When can you expect your tax documents? Most forms have a date that they must be postmarked, or mailed by. Mail delivery time and delays could mean that the forms are not received until after the below listed deadlines but are still considered on time.…
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