Governor Kay Ivey's supplemental emergency proclamation will allow citizens and businesses to avoid paying state taxes on certain benefits received under the federal CARES Act. Per Governor Kay Ivey, "the state will not be collecting taxes from individuals or businesses who received benefits from the CARES...
It is that time of the month whereby we delve into our household or business operations. Let us also be practitioners of good money management and self-assessment tax compliance. We can reach many milestones together using the below suite of services, Business and Accounting Solutions...
The United States Department of the Treasury expects taxpayers to “pay no more than the correct amount of tax.” It is plausible that the Internal Revenue Service (IRS) receive declarations such as easier said than done, I did not know I could not deduct that expense, my...
So, what’s next? This is a typical question after a series of challenges. The year of 2020 (like other years such as 1914) has been eye opening to the world. Another popular adage is “live and let live.” Various interpretations of this phrase exist. In...
The 2020 tax season ended on July 15. However, the tax year is in full effect. Most taxpayers account for their self-assessment tax obligation within a calendar year (e.g., January - December). Below are a few suggestions (limited scope) on how to prepare for the...
The Internal Revenue Service (IRS) advocates for taxpayers to pay only the tax owed. In fact, one of the ten Taxpayer Bill of Rights involves the right to pay no more than the correct amount of tax. There are several reasons why taxpayers may overpay...