You may not be thinking about your tax return right now, but summer is a great time to start planning for next year. Organized records not only make preparing your return easier, but may also remind you of relevant transactions,…
Author Archive for Oscar
Tips for Employers Outsourcing Their Payroll
by Oscar • • 0 Comments
Outsourcing payroll duties to third-party service providers can streamline business operations, but we remind employers that they are ultimately responsible for paying federal and state tax liabilities. Recent prosecutions of individuals and companies who – acting under the guise of…
Things Social Security Won’t Tell You
by Oscar • • 0 Comments
Things Social Security Won’t Tell You by Jonnelle Marte Wednesday, September 7, 2011 provided by 1. “Long-term deficit? We can hardly afford our bills today.” Worried about the future of Social Security? You’re far from alone. The Social Security Administration…
Taxpayers Who Receive an IRS Notice
by Oscar • • 0 Comments
Every year the Internal Revenue Service sends millions of letters and notices to taxpayers, but that doesn’t mean you need to worry. Many notices are routine and can be handled by the taxpayer. If you feel you need help with…
Charitable Deductions
by Oscar • • 0 Comments
Not all charitable gifts are deductible. Here are some rules to determine if your gift qualifies for a deduction. Contact Matis at 646-580-1099 or matis@1099bookkeepers.com for help with this or other tax matters. Make sure the organization qualifies. Charitable contributions…
Tax Tips for Recently Married Taxpayers
by Oscar • • 0 Comments
If you are recently married or are planning a wedding, the last thing on your mind is taxes. However, there are some important steps you need to take to avoid stress at tax time. Here are some tips for newlyweds.…
Prior-Year Tax Information from the IRS
by Oscar • • 0 Comments
Taxpayers sometimes need tax returns from previous years for loan applications, to estimate tax withholding, for legal reasons or because records were destroyed in a natural disaster or fire. If your original tax returns were lost or destroyed, you can…
Tax Tips for Individuals Selling Their Home
by Oscar • • 0 Comments
Here is some important information for individuals who have sold or are about to sell their home. If you have a gain from the sale of your main home, you may qualify to exclude all or part of that gain…
Amending your tax return
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If you discover an error after you file your tax return, you can correct it by amending your return. The IRS recently made several changes to Form 1040X. Using the new form will speed processing time. Contact Matis at 646-580-1099…
Potential trouble spots as IRS steps up enforcement
by Oscar • • 0 Comments
Potential trouble spots as IRS steps up enforcement By Karen Hube, The Internal Revenue Service has added a couple of notches to its enforcement belt. First came the disclosure that international financial services giant Credit Suisse is under federal…