Right Way Bookkeeping and Notary, LLC

I’m a Tax Professional! Of course I’m at the office on the Sunday before the tax deadline.

I’m still accepting clients!

Call me today to get your taxes underway!

205-370-0996

If there is one thing you should make room for in your business budget it is bookkeeping to help your company move in the direction of growth and compliance.

Did you know that your company’s financial budget should include accounting/bookkeeping? How do you properly incorporate those cost? I’ll tell you!

Take your gross revenue annually and multiply it by 2% and 3%. That’s how much I you should be allotting for your accounting cost. So let’s say your gross revenue is $100,000 annually. This means your accounting budget should be between $2,000 to $3,000 annually. This does not include tax planning or preparation,

Now that you’ve learned how to incorporate an accountant into your budget. Let me help you get your business books on the “RIGHT WAY” road and o success.

Happy April Fool’s Day! Let’s not be April’s Fool though. We are 15 days away from the end of tax filing season. If you haven’t gotten your taxes filed, it’s crunch time.

If you feel overwhelmed and that you cannot get them completed in time, then be sure to file an extension.

The good part is we can help you with both!

Make a tax appointment with us today at the link: https://calendly.com/rightwaybooksandnotary/tax-preparation-appointment

We are counting down to the April 15th deadline. If you haven’t filed, now is the time to buckle down, gather your documents, and get to@your tax professional.

If you are in need of a tax professional, we are still accepting new clients.

Book a tax appointment today: https://calendly.com/rightwaybooksandnotary/tax-preparation-appointment

It's Tax Season! Allow me to be your tax professional this tax season. It is my goal to help you with your personal and business taxes to ensure you receive the maximum benefit.

Start your client intake by scanning the QR code on the flyer!

Have Questions? Call us at 205-370-0996.

I look forward to having you as a part of the Right Way Bookkeeping and Notary, LLC family!

🚨JUST IN:

The Internal Revenue Service announced today that January 29th will be the start of the nation's 2024 tax season and when the agency will begin accepting and processing 2023 tax year returns.
Per today's news release:

"The Internal Revenue Service today announced Monday, Jan. 29, 2024, as the official start date of the nation's 2024 tax season when the agency will begin accepting and processing 2023 tax returns.



The IRS expects more than 128.7 million individual tax returns to be filed by the April 15, 2024, tax deadline.

Although the IRS will not officially begin accepting and processing tax returns until Jan. 29, people do not need to wait until then to work on their taxes if they're using software companies or tax professionals. For example, most software companies accept electronic submissions and then hold them until the IRS is ready to begin processing later this month."
Right Way Bookkeeping and Notary, LLC

Our office is officially open for Tax Season today!

Let us help you get the max on your taxes! Simply scan the QR code to complete your client intake or visit this link: https://form.jotform.com/232637712259056

We can’t wait to serve you!

www.rightwaybooksandnotary.com

TAX MINUTE WITH MARLICEIA:

Are you a homeowner and you received a 1098 form and you had no clue on what to do with it? 🧐

We all know taxes can be tricky and complicated enough so let's dive into it!

What is a 1098 mortgage statement?

Form 1098 is often referred to as the

"Mortgage Interest Statement."

✅ It is provided by the entity that services your mortgage, typically your mortgage lender.
Information Included: The form includes information about the amount of mortgage interest paid by the borrower during the tax year. It also may include other relevant details, such as property taxes paid and any points or mortgage insurance premiums.

✅ Tax Deductions: The information on Form 1098 is essential for homeowners because mortgage interest is often tax-deductible. Borrowers can use the details on the form to claim deductions on their income tax returns.

✅ Other Uses: In addition to mortgage interest, there are other variations of Form 1098 for reporting different types of income, such as student loan interest (Form 1098-E) and tuition payments (Form 1098-T).

When you receive Form 1098, it's crucial to review the information for accuracy and use it when filing your income tax return.

Still have questions or concerns? Feel free to reach out to me directly by phone 📞 (205) 370-0996

TAX NEWS YOU CAN USE ‼️

The IRS states that if you lent someone money with the expectation of them paying you back, but they fail to repay you, you may be able to write off the unpaid amount.

This is called a nonbusiness bad debt on your tax return.

What Form Do I Need to File?

To claim a nonbusiness bad debt with the IRS, you will need to complete Form 8949 and attach it to your personal tax return.

In addition to Form 8949, you also must attach a written statement to your tax return that includes these three details:
The amount of money owed to you and the original due date for repayment
The name of the person who owes you money and their relationship to you
The efforts you made to try to recover the money owed and why you have basically given up on ever getting it back
Example Scenario

For example, let's say I loaned my mother $200 to buy some grocery items on November 1st, 2023. She said she would repay me on her next paycheck on November 15th.

When she failed to repay me over a week later, I called her on November 30th to ask about the unpaid loan. She dismissively told me to stop calling about that money she owes me - making it clear I'll never get the $200 back.

In this case, I would report the $200 bad debt to the IRS by listing details of the scenario on Form 8949 and including that written statement as described above with my overall tax return.

Reporting Bad Debts to the IRS

While no one hopes to deal with a situation where personal loans go unpaid, you may have options through claiming nonbusiness bad debt with the IRS if you can demonstrate you realistically will not be paid back.

Just be sure to carefully document the loan terms and attempts to recover the amounts owed.

PSA!! 📣

It's 2️⃣7️⃣Days Left Until Tax Season!!!

Are You Ready? Start Getting Those Documents In Order. Our Tax Advances Will Be Opening Up Jan 2nd, 2024.

Advances Up To $9,500 🤑

Follow Us On IG For Our 2024 Tax Giveaways & New IRS Updates And Information

www.rightwaybooksandnotary.com

Want to learn a new skill that can more than pay the bills?

Then becoming a Tax Professional is the way to go. There is lots of flexibility and you can learn and earn at the same time.

We still have a few slots left on the team!

Join Us: https://www.rightwaybooksandnotary.com/joinourtaxteam

I’m back and I want to prepare you for the upcoming tax season.

I’m officially launching TAX TIP TUESDAYS from now until the end of January. I will be giving you the scoop on filing status, standard vs itemized deductions, dependents, credits, paperwork, business, etc.

Be sure to tune in tomorrow at 6pm on Facebook.

Want to know our tax process for the upcoming tax year? Check it out below.

We can't wait to serve you this tax season. Click the link to get started: https://form.jotform.com/232637712259056

EDUCATIONAL POST:

Did you know there is a difference between tax preparation and bookkeeping?

Tax Preparation is the preparing and filing of a tax return to be submitted to the IRS to ensure tax compliance.

Bookkeeping is the process of recording a company’s financial transactions into organized accounts on a daily basis.

When Bookkeeping is properly maintained at the end of the year, the company can produce the annual reports and present them to their tax preparer.

*DO NOT EXPECT BOOKKEEPING AT YOUR TAX PREPARATION APPOINTMENT WITHOUT INCURRING EXTRA FEES.

We have two and a half months left! Get your books and records in order.

If you haven’t filed your 2022 taxes, now is the time to get them in. Just got another business owner today.

I’m still accepting clients.

Make your appointment here:

Tax Preparation Appointment - Marliceia Chavers In this consultation, we will discuss your tax needs and I will walk you through our intake process. We will then go over a list of all documentation needed from you and set you up a client portal where you can send and receive documentation needed for your tax preparation.

The Tax industry is one of the largest money generating industries to work in‼

You can make in 4 months, what some don't make in a year. 📆📅
Let's break down the calculations 🧮

If you have 1 client per day, and each client pays $450, then in a week you would earn:
7 clients x $450 = $3,150

In 4 weeks (a month), you would earn:
$3,150 x 4 = $12,600

If you continue this for 4 months (January to April), you would earn:
$12,600 x 4 = $50,400

If you were to double the number of clients per day, earning $900 per day, in 4 months you would earn:
2 clients x $900 = $1800 per day
$1800 x 30 days (approximate number of days in a month) = $54,000 per month
$54,000 x 4 = $216,000 in 4 months.

You get the picture. It’s plenty of money to be made 💸💸💸

💎 My next question is, who is ready to join the team?

👉 I have a tax preparation class starting in October. Who’s ready to sign up?? 💰💰💰

Sign up to Join the Right Way Bookkeeping and Notary, LLC TAX Pros:

Join Our Tax Team | RIGHT WAY BOOKKEEPIN WELCOME! We are happy that you have shown interest in joining a dynamic team of tax professionals. It is our goal to build an empire designed to help everyday people, and small and large businesses find peace of mind in our professional expertise. Here you will receive the proper training and skills...

We are growing our team and are looking for motivated team members to make this upcoming tax season a success.

Add another lucrative stream of income by helping others with taxes done right.

If you’re interested in becoming a tax pro register here for more information: https://www.rightwaybooksandnotary.com/joinourtaxteam

Are you an aspiring or current content creator, entrepreneur or small business owner? If so, then the “Consistency Conference” is where you need to be this Saturday! Come get the scoop on all things finances from me and so much more for the other special guests!!!

Get tickets here: https://www.thelokent.com/the-art-of-consistency-work-shop

We’re back and opening our book to new bookkeeping clients! If you need to get your business books in order, contact us today!

www.rightwaybooksandnotary.com
205-370-0996

Don’t get caught slipping! Contact me now for your taxes. I will take good care of you!

https://calendly.com/rightwaybooksandnotary/tax-preparation-appointment

We are diwn to the wire in tax season! Make your tax appointment now. Don’t get hit with penalties and interest due to Kate filing. Let me get you the max on your taxes.

Book today: https://calendly.com/rightwaybooksandnotary/tax-preparation-appointment

Be sure to follow us on Instagram as well.

www.instagram.com/rightwaybooksandnotary