With tax season in full swing, here are a few key reminders to help you stay on track. 馃搮聽Tax Document Reminders Many tax forms, including聽1099-Bs for investment accounts, won鈥檛 be available until聽late February. Be sure to check with your brokerage firm before sending partial documents. As you receive your tax [...]
The 2024 tax filing season begins January 27th 2025! Every year, AFSG provides you with detailed checklists to help you stay organized and up to date on the current tax laws. Below are links to our 2024 checklists, worksheets, and virtual appointment options. TAX CHECKLISTS聽聽 From your phone, tablet, or [...]
Important Reminder: The fourth quarter estimated tax payment deadline is 聽January 15, 2025. It鈥檚 crucial for gig workers, business owners, retirees, or those with investment income to make sure they meet their federal and state tax obligations. Missing payments or underpaying will result in penalties. If you鈥檙e unsure about how [...]
The Internal Revenue Service announced today the annual inflation adjustments for tax year 2025 including more than 60 tax provisions that will impact taxpayers when they file their returns in 2026. Notable changes for tax year 2025 The tax year 2025 adjustments described below generally apply to income tax returns [...]
In light of the recent federally declared disasters, we want to extend our thoughts to those affected. The IRS has extended certain tax deadlines for individuals and businesses in impacted areas. If you鈥檝e been affected, you may have more time to file your tax returns or make payments. Please check [...]
Important Reminder: The third quarter estimated tax payment deadline is 聽September 16, 2024. It鈥檚 crucial for gig workers, business owners, retirees, or those with investment income to make sure they meet their federal and state tax obligations. Missing payments or underpaying will result in penalties. If you鈥檙e unsure about how [...]
The Internal Revenue Service (IRS) has recently addressed some common misconceptions surrounding Form 1099-K, aiming to clear up confusion and assist taxpayers in understanding their obligations. With changes and myths circulating, it鈥檚 crucial to know the facts about receiving and reporting via Form 1099-K. In November 2023, the IRS [...]
Understanding the Tax Implications of Bonuses Receiving a bonus from your employer is not just a sign of recognition for your hard work; it's also a boost to your income that can have various tax implications. Unlike regular wages, bonuses are taxed under specific rules that you should be aware [...]
Essential Guide to Reporting Cryptocurrency and Digital Asset Income on Your 2023 Tax Returns The Internal Revenue Service (IRS) has issued a reminder that all taxpayers must diligently report digital asset-related income when filing their 2023 federal income tax returns. What鈥檚 New This Year? The IRS has updated the digital [...]
2024 Tax Season: What You Need to Know... The IRS has set the stage for a smoother tax filing experience this year, with the season officially kicking off on January 29, 2024. They're expecting over 128.7 million individual tax returns by the April 15 deadline, so it's time to gear [...]
