Taxes Done Right , LLC.

As comes to an end, the wants college students to know every tax benefit available to them. Tax credits and deductions can help offset the costs of higher education. Take a look at: www.irs.gov/education

Buying an energy efficient home is not only good for lowering your utility bills, it's good for the environment, too. You might be wondering if the rebates you received with the purchase of your home are considered income. The has all the information you need for you to make an informed home purchase.

For more information, visit https://ow.ly/1Spi50RlgnW.

Having a tax bill can be extremely stressful. If you don't have the money to pay the entire bill at once, there are options to help you such as a payment plan or an Offer in Compromise. An tax tip explains the different ways you can meet your tax obligations if you can't pay all or part of it.

Read the tax tip by clicking here: https://ow.ly/AZie50Rlg6f.

Thinking about going green this Earth Day? If you're purchasing a new or used clean vehicle, the has all the information you need to help you purchase one that also qualifies for the Clean Vehicle Credit. You may even be able to use the credit towards the purchase of the car. This offers a savings of up to $7,500 on your purchase.

Learn more: https://ow.ly/UoIs50RlfZN.

The encourages taxpayers who have not submitted their 2020 tax returns to do so before the May 17 deadline. File today and claim your refund: https://ow.ly/UVjV50R1owW

There are many advertisements claiming you can settle your tax debt for less than the amount you owe. Did you know that the has an Offer In Compromise Pre-Qualifier Tool Online? The tool will help you figure out if you're eligible and prepare a preliminary proposal--for free.

Learn more at https://ow.ly/2qlC50R8wFy

Self-employed people, including persons in the gig economy, often need to pay in quarterly installments.
Don’t miss the April 15 estimated tax deadline.

See: https://ow.ly/QBnZ50R9CGa

If you owe taxes and can't pay the balance by the deadline, make sure to file your return on time and pay as much as you can. Filing on time will help you avoid additional penalties from piling up. An reminder: An extension of time to file is not an extension of time to pay.

Get started at www.irs.gov/efile

The has made updates to the ‘Where’s My Refund?’ tool, including:
• Refund status messages in plain language
• Seamless access on mobile devices and with the IRS2Go app
• Notifications if the IRS needs additional information for your refund

Visit irs.gov/wheres-my-refund

DYK what you do to adjust your tax withholding now may affect what you owe the or the refund you can expect next year? Check the Tax Withholding Estimator today: www.irs.gov/withholding

If you purchased health insurance from the Health Insurance Marketplace, you may be eligible for a tax credit. The Premium Tax Credit can be paid in advance towards your insurance premium or can be refunded to you on your tax return. The has updated our frequently asked questions for this credit. Information regarding eligibility, income limits and more have been updated.

Get the latest information at https://ow.ly/etrX50QApce.

Have You Checked Your Withholding Lately? The best way to avoid a surprise at tax time is to check your withholding. Watch this video to learn more, and head over to www.irs.gov/withholding. ...

The is reminding you to report all of your digital asset income on your 2023 return. Common digital assets include:
• Convertible virtual currency and cryptocurrency
• Stablecoins
• Non-fungible tokens (NFTs)

When filing, be sure to answer the digital asset question on your tax return.

Get all the details at https://ow.ly/XvCR50QuwqB.

This simple calculation will show if you're withholding enough taxes from your paycheck If your tax refund or bill is higher than expected, it may be time to adjust your paycheck withholding. Here’s how to know if you’re withholding enough.

How does an S Corp work? Let us count the ways:

👉 Legitimizes your business on PAPER!!
👉 Helps you reduce your self-employment tax burden (Social Security and Medicare)
👉 Protects your personal assets from lawsuits and liability

S Corps can start as early as an LLC has been formed - so if you’re not sure if you’ll hit $60K, forming an LLC in the meantime can open the door for future S Corp treatment!

Do you ever think to yourself, "Where does this money I pay in taxes actually go?". Us too. 😅 But we have some answers!

👉 Income Tax

The lovely income taxes can range anywhere between 0 - 37% dependent on your tax bracket.

👉 Self Employment Tax

This is a standard rate of 15.3%. You're probably saying, "What, two types of taxes on that hard work?" Unfortunately, that's just how the cookie crumbles. When you’re an employee (W-2 job), your employer pays half of your payroll taxes (7.65%) and you pay the other half (7.65%). But self-employed, you're responsible for the entire 15.3%.

Have questions for us? Drop them below and we'll share some answers. 🤩

Planting seeds for your future may lead to a fruitful retirement and an tax credit. The Saver’s Credit is available for IRA or employer-sponsored retirement plan contributors whose income falls below certain levels.

See https://ow.ly/ih9I50PZLEH for more information.

The Energy Credit Online tool may be especially helpful to small businesses that sell clean vehicles.

See: https://ow.ly/c3B850Q36a1

Options for Paying Your Federal Taxes There are several ways to pay your federal taxes. Watch this video, then head over to https://www.irs.gov/payments for more information. ...

https://youtu.be/JMe64u_mvP0?si=cu9OAvJ6VA7wjKLU

Day Camp and Child Care Expenses.

Day Camp and Other Child Care Expenses See if money you pay for day camp or other child care expenses can help you claim the child and dependent care tax credit. Find out if you can claim it here:...