Gray Income Tax

Effective immediately. Our hours of operation are as follows: Monday through Friday 9am to 5pm. Calls, texts and emails before or after these hours will be returned the next business day during normal business hours. We are currently working on end of year tax and payroll reports, tax forms and other accounting services for our clients outside of our normal hours. This allows us to work uninterruputed providing each of our clients with the best possible service and attention they deserve. Your understanding and adherence to these hours are appreciated. Tonya & Mitzi

Our office will be closed from December 20, 2023 to January 3rd, 2024. We will use this time to prepare for the coming season and spend time with family and friends. We wish you all a very Merry Christmas and a Happy and prosperous New Year. Tonya and Mitzi

Happy Thanksgiving to All of Our Clients!!

Effective Immediately
Our hours of operation have changed. We can be reached Monday-Thursday 9am to 4pm. We will return phone calls, text messages and emails received after our normal business hours on our next business day. Thank you for your continued business.

Our office is closed from today, October 7th to Wednesday, October 11th. We will not be taking calls, text messages or emails during this time. We will resume operations at 9am Thursday, October 12th. Thank you for your understanding and compliance. Mitzi and Tonya

Just a reminder our hours are as follows: Monday-Thursday, 9am to 4pm. We will answer all correspondence received before or after these hours on our next business day. Thank you for your continued business. Tonya and Mitzi

Georgia’s Surplus Tax Refund

Georgia Surplus Tax Refund You may be eligible for the 2022 Surplus Tax Refund

https://dor.georgia.gov/georgia-surplus-tax-refund

Georgia Surplus Tax Refund You may be eligible for the 2022 Surplus Tax Refund

We have had multiple clients ask about the status of Georgia refunds. The Georgia website says to allow 12 weeks for processing of 2022 refunds including direct deposits. You can check the status of your refund on the Georgia website at the following address:
https://dor.georgia.gov/taxes/check-my-refund-status

We cannot provide more information than you will find at this website.

Tonya and Mitzi

Check my Refund Status How do you track the status of your Georgia Tax Refund? Find out using the Georgia Tax Center's “Check my Refund Status” tool.

A note to all of Tonya's clients:

I will be out of the office from May 1 to May 31, 2023, tentatively. If you text, call or email me know that I will not be responding quickly, it could be several days. If you need immediate assistance you will need to contact Mitzi and see if she can assist you. Thank you for your understanding and continued business.

Tonya

Please use this and make sure your withholdings are correct so you don't end up having to pay crazy amounts next year.
Always compare your paychecks AFTER you have made adjustments to your withholdings to see how much they have changed.

IR-2023-87: IRS Tax Withholding Estimator helps people get ready for the 2024 filing season; make sure withholding is right on 2023 paychecks IR-2023-87: IRS Tax Withholding Estimator helps people get ready for the 2024 filing season; make sure withholding is right on 2023 paychecks Internal Revenue Service (IRS) sent this bulletin at 04/18/2023 12:14 PM EDT News Essentials The Newsroom Topics IRS Resources Issue Number: IR-2023-87 Inside...

Just a reminder to all of our clients. The deadline for filing this year is April 18, 2023. We are working to complete as many returns as possible. We will contact you when we start working on your return if we need more information to complete your return. Please be patient with us and know that we cannot take every call that comes in now. We are not ignoring your calls, messages or emails but we are giving the proper attention in that moment to another client. We value your business and appreciate your patience in the coming days.
Tonya & Mitzi

The Internal Revenue Service today reminded people that Tax Day, April 18, is also the deadline for first quarter estimated tax payments for tax year 2023.

These payments are normally made by self-employed individuals, retirees, investors, businesses, corporations and others that do not have taxes withheld or employees that don’t have enough taxes withheld by their employers throughout the year.

Income taxes are a pay-as-you-go process. This means, by law, taxes must be paid as income is earned or received during the year. Most people pay their taxes through withholding from paychecks, pension payments, Social Security benefits or certain other government payments including unemployment compensation.

Most often, those who are self-employed or in the gig economy need to make estimated tax payments. Similarly, investors, retirees and others often need to make these payments because a substantial portion of their income is not subject to withholding.

Other income generally not subject to withholding includes interest, dividends, capital gains, alimony and rental income. Paying quarterly estimated taxes will usually lessen and may even eliminate any penalties.

Exceptions to the penalty and special rules apply to some groups of taxpayers, such as farmers and fishers, those who recently became disabled, recent retirees, those who receive income unevenly during the year and casualty and disaster victims.

Due to recent disasters, eligible taxpayers in California, Alabama and Georgia, for example, have until Oct. 16, 2023, to make 2023 estimated tax payments, normally due on April 18, June 15 and Sept. 15. People in other states may have extended deadlines as well; a full list is available on a special IRS.gov page.

How to pay estimated taxes
Form 1040-ES, Estimated Tax for Individuals, includes instructions to help taxpayers figure their estimated taxes. They can also visit IRS.gov/payments to pay electronically.

The best way to make a payment is through IRS online account. There taxpayers can see their payment history, any pending payments and other useful tax information. Taxpayers can make an estimated tax payment by using IRS Direct Pay; Debit Card, Credit Card or Digital Wallet; or the Treasury Department's Electronic Federal Tax Payment System (EFTPS).

For information on other payment options, visit IRS.gov/payments. If paying by check, taxpayers should be sure to make the check payable to the "United States Treasury."

Publication 505, Tax Withholding and Estimated Tax, has additional details, including worksheets and examples, that can be especially helpful to those who have dividend or capital gain income, owe alternative minimum tax or self-employment tax, or have other special situations.

Tax Withholding Estimator
The IRS urges people to use its Tax Withholding Estimator tool to help ensure the right amount of tax is withheld from their paychecks.

Checking taxes withheld periodically helps to protect against having too little tax withheld and possibly facing an unexpected tax bill or penalty at tax time. It also allows people to check taxes withheld up front, resulting in bigger paychecks throughout the year and likely a smaller refund at tax time.

Payments | Internal Revenue Service Make payments, view your account or apply for a payment plan with the IRS.

We are less than 30 days away from the tax filing deadline. Please get your information to us asap if you have not already done so. We will reach a point very soon where we will only be able to file an extension. Thank you for your continued business and support. Tonya and Mitzi

Please don’t forget to do your Annual License renewal at Georgia Corporations Division before April 1st!!

Good morning one and all. We are in the process of mailing out beginning of season letters. Please review the letter for changes and information needed to make this season as seamless as possible. Along with the letter is an information sheet. Please update any info needed on these sheets and return them to us when you drop off your 2022 tax information. Thank you.

Happy Thanksgiving one and all!!

Our office will be closed Wednesday, November 23, 2022 until Monday, November 28, 2022 for the Thanksgiving holiday. We are very thankful for all of our clients and wish you all a safe and wonderful holiday. Tonya and Mitzi

It is that time of year again: Renewal of your Georgia State Registration for LLC’s, Corporations, S-Corps, etc. The State of GA will email you a “reminder” in January and a link to go renew your annual license and that will cost anywhere from $30 to $50 per year. DO NOT, I repeat, DO NOT pay these companies who are mailing out forms right now, to do the same thing you can do in 5 minutes online, for $150!!! Yes, they charge $150 to do the same thing you can do in 5 minutes and pay the State their usual fee of $50.

A note to all of our clients that are keeping those perfect business mileage logs for this year. The business mileage rate for 2022 per the IRS increased on July 1st. January 1 to June 30, 2022 is $.585 per business mile. That rate increased to $.625 on July 1st and will remain at that rate for last 6 months of 2022. This means we will need business mileage to be divided accordingly for 2022 tax returns.

Our office will closed October 8-October 13, 2022. We will return all texts, calls and emails upon our return to the office. We will be enjoying family time so no we are not ignoring you but we are prioritizing our families during this time. Thank you for your understanding. Mitzi and Tonya

Our office will be closed Monday, September 5, 2022. We will return calls, texts and emails the following day. Have a great holiday!

Our office will be closed Friday, July 1st through Tuesday, July 5th 2022. We will return calls, text messages and emails received during these days on our first day back in the order they are received. Thank you!