Account On Us LLC

Account On Us LLC updated their business hours.

Account On Us LLC updated their website address.

https://www.ncdor.gov/extracredit?fbclid=IwAR2HUyuP065VPTtuD-LypHAekghq5QXVk3LtOHkZK2cLjoV0hP5BwX82h5k

NCDOR: Extra Credit Grants Extra Credit Grants About About Español On September 4, Governor Roy Cooper signed into law the Coronavirus Relief Act 3.0, which was passed by the North Carolina General Assembly. The law includes the Extra Credit Grant program to be administered by the North Carolina Department of Revenue. Accord...

https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here

Non-Filers: Enter Payment Info Here | Internal Revenue Service Steps to receive the Economic Impact Payment if you haven't filed a tax return for 2018 or 2019, and aren't receiving Social Security, SS Disability Income or Railroad Retirement benefits. This payment is also referred to as "stimulus checks" or "coronavirus relief."

Here is where you apply for Unemployment in NC whether you are an employee, or self-employed...

https://des.nc.gov/apply-unemployment

DES: Apply for Unemployment How to apply for unemployment benefits.

Here is a good FAQ about Stimulus payments...

https://www.kiplinger.com/article/spending/T063-C000-S001-stimulus-checks-2020-how-much-when-and-other-faqs.html

Your 2020 Stimulus Check: How Much? When? And Other Questions Answered People have a lot of questions about the economic stimulus checks that were just approved by the Senate. We have answers.

This was just put on by the NC Department of Revenue FAQ:

Will I be responsible for paying interest if I pay my income tax liability after April 15, 2020?

Yes. You will be responsible for paying interest at the statutory rate from April 15,
2020, until you pay your income tax liability. The rate of interest is currently 5% per
year, the minimum rate allowed by statute. Currently, State law prevents the
Department from waiving accrued interest, including interest assessed for the
underpayment of estimated tax, except in limited cases.

https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

Coronavirus (COVID-19): Small Business Guidance & Loan Resources Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy.

https://www.cnn.com/2020/03/20/politics/steven-mnuchin-tax-day-july-15/index.html

US tax filing deadline moved to July 15, Mnuchin says Americans will have an additional three months to file their taxes amid the coronavirus pandemic, the US Treasury Secretary said on Friday.

The IRS and State of North Carolina have both delayed payment of taxes until July 15th. This is for Income Tax and Estimated Tax.

Monday, March 16th is the deadline for S Corporation and Partnership tax returns. If aren't able to file on time, make sure you file an extension! The IRS penalizes $200 per partner/shareholder per month the tax return is late.

Happy New Year!!!

The IRS has announced the Standard Mileage Rate for 2020 which is .575/cents per mile.

Two weeks until the tax deadline for extension filers. If you haven’t filed your 2018 taxes yet, time to hurry!!!

Today is the Corporate Tax Deadline. S Corporation and Partnership returns are due today!

Monday is the official first day of tax season...let the fun begin!

Account On Us, LLC showing our support for No Dogs Left Behind, an animal rescue organization in China saving dogs from the dog meat trade. Otis (the dog) came from China in June 2018. He’s at our office every day.

Good morning! If you haven't done so, please pay your STATE Estimated Taxes by 12/31 instead of by the due date of January 15th in order to get the tax deduction this year.

This is the time of year that new Health Insurance rates come out. If you are self employed and have one employee other than yourself, you qualify for Group Health Insurance. I chose United Health. The rates are more reasonable with United Health vs BCBS and with a Group plan, you have a lot more choices. Call or email me if you have questions on this.

Wake County (North Carolina) Sales and Use Tax to Increase 0.50% Effective April 1

The 0.50% Wake County Transit Sales and Use Tax is in addition to the general 4.75% State and Wake County local 2.00% sales and use taxes for a total rate of 7.25%.

Happy Monday! Just a reminder, for those of you required to make Quarterly Estimated Tax Payments, the final payment for 2016 is due January 17th.

The mileage rate for business mileage for 2017 is $.535 per mile. Remember to either keep a mileage log for your business or use a mileage app on your phone. If audited, the IRS will want to see this.

2017 Tax Filing Season Begins Jan. 23 , Tax Returns Due April 18

Due to changes in the law, starting in 2017, the IRS can’t issue refunds before Feb. 15, 2017, for returns that claim the Earned Income Credit (EIC) or the Additional Child Tax Credit (ACTC). This applies to the entire refund, not just the portion associated with these credits.

Happy Monday everyone! For those of you who are S Corporations in 2016, if you don't have a retirement plan setup yet, I highly recommend you get a Simple IRA setup. The deadline for setting one up is October 1st. Let me know if you'd like a referral to someone who can help get this opened for you.

Don't forget, April 18th is the tax filing deadline this year. If you haven't filed yet, let me know and I can file an extension for you. Remember, an extension is a filing deadline extension, NOT a payment deadline extension.

Sole Proprietorship vs. S Corporation: The Pros and Cons of each Revealed

I get asked a lot about LLC versus S Corp. Below is a good article about it. And FYI, an LLC by itself is considered a Sole Proprietorship. My favorite is the LLC taxed as an S Corp.

http://www.examiner.com/article/sole-proprietorship-vs-s-corporation-the-pros-and-cons-of-each-revealed

examiner.com For entrepreneurs starting a new business, or looking to change the legal and financial structure of their existing business, choosing whether to be a sole prop

Happy Friday! In case you didn't know, the IRS processes e-filed tax returns received by Friday in the refund cycle for payment by the following Friday.

One month from today is the Corporate Tax deadline!!! Don't be late!!!

Ha! Don't try this at home. 😜

Today was the first official day of Tax Season. Contact me if you need help or if you just have questions. I'm here to help!

Happy Friday!!!

Next Tuesday, January 19th is the first official day of tax season. That is the first day tax returns for 2015 can be filed.

Don't forget, if you are required to make Estimated Tax Payments, the fouth and final payment for 2015 is due Friday, January 15th

The Standard Mileage Rate for 2016 for $.54/mi. This is down from 2015 which was $.575/mi.

Happy New Years from me and the staff at Account On Us, LLC!