In an effort to reduce fraud, a provision in the Consolidated Appropriations Act passed by Congress has changed the filing deadlines for employer copies of Forms W-2/1099-MISC. The 2016 employer W-2/1099-MISC filing deadline is Tuesday, January 31, 2017. There are new due dates for returns for partnerships, C corporations and several other business returns as well. For calendar-year partnerships, the …
Beth Goddard is celebrating 10 years of service with Person CPA Group! She provides accounting and tax services as well as computer technical support and training for individuals, small businesses, and non-profit organizations. She specializes in small business accounting software including Peachtree, QuickBooks, PCLaw, and Champion. She has been an officer in many non-profit organizations, and has worked in industry, …
The Immigration Reform and Control Act of 1986 required employers to verify that all newly hired employees present documentation verifying the employee’s identity and legal authorization to accept employment in the United States. The I-9 (“Employment Eligibility Verification”) form must be completed by every employee hired after November 6, 1986. On Aug. 25, the Office of Management and Budget approved …
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the 2016 tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. The “Protecting Americans from Tax Hikes Act of …
Planning is the key to successfully and legally reducing your tax liability and is a critical part of a small business owner’s financial plan. Yet, the majority of small business owners ignore tax planning. There are many tax planning strategies available to small business owners – below are a just a few: Review Your Expenses:Check to be sure you have …
Louisiana taxpayers can claim refunds for state sales taxes paid on personal property destroyed by a natural disaster in a parish declared a federal disaster area. The following parishes were declared federal disaster areas following severe storms and flooding in March 2016: Allen, Ascension, Beauregard, Bienville, Bossier, Caddo, Calcasieu, Caldwell, Catahoula, Claiborne, DeSoto, East Carroll, Franklin, Grant, Jackson, LaSalle, Lincoln, …
A one-month filing and payment extension for Louisiana state taxes is available to Louisiana taxpayers affected by recent severe storms and flooding. The extension applies to Louisiana tax returns and payments due August 15, 2016. The extended deadline is September 15, 2016. For returns and payments submitted by the extended deadline, the Louisiana Department of Revenue will waive any late …
We have been experiencing major flooding in Louisiana this week. If you suffer damage to your home or personal property, you may be able to deduct the losses you incur on your federal income tax return. Here are ten tips you should know about deducting casualty losses: Casualty loss. You may be able to deduct losses based on the damage …
The amount of claims already submitted for Louisiana’s solar energy system tax credit exceeds the amount of money available to pay claims on purchased systems through the scheduled end of the credit program on December 31, 2017. Consumers purchasing residential solar energy systems from this point forward should not expect to receive tax credits from the state. Act 131 of …
The IRS will send a notice or a letter for any number of reasons. It may be about a specific issue on your federal tax return or account, or may tell you about changes to your account, ask you for more information, or request a payment. Before you proceed, check where the notice came from – make sure it’s from …
