Extension filers: Important reminders when preparing to file

Extension filers: Important reminders when preparing to file

Individual taxpayers who requested an extension of time to file their federal taxes have until Oct. 15, 2024, to complete and file their federal tax return. Those who already have the forms and information they need should file now – there’s no advantage to waiting until the deadline. There are a few things extension filers…

Quarterly Tax Tips for Small Businesses

Quarterly Tax Tips for Small Businesses

Tip 1: Know What “Estimated Quarterly Taxes” Actually Means According to the Internal Revenue Service (IRS), estimated quarterly tax payments are regular (typically 4x/year) payments made by individuals and businesses to the IRS to prepay income, self-employment, and other taxes throughout the year. Just like the annual April filing, quarterly payments are based on your earnings….

Energy efficient home improvements could help people reduce energy bills and taxes

Energy efficient home improvements could help people reduce energy bills and taxes

Homeowners who make improvements like replacing old doors and windows, installing solar panels or upgrading a hot water heater may qualify for home energy tax credits. Who can claim the credits Taxpayers making improvements to their principal or, in some cases, secondary residence may be eligible for these credits. In some cases, renters may also…