Even if you File an Extension, You Must Still Pay Your Income Tax in Full by the Tax Deadline Need more time to prepare your federal tax return? Traditionally, federal tax returns are due on April 15 or the first business day thereafter. However, the IRS does grant you an automatic extension to file your… [Read More]
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What to Do if I Receive a Letter from the IRS?
What taxpayers should do if they get a letter or notice from the IRS Your notice or letter will explain the reason for the contact and give you instructions on how to handle the issue. If you agree with the information, there is no need to contact the IRS. Note: As explained on the IRS… [Read More]
Taxable Events from your Crypto Investing Activity
Crypto Taxes: Tax Reporting Requirements Virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value. In general, the sale or exchange of convertible virtual currency, or the use of convertible virtual currency to pay for goods or services in a… [Read More]
Self-Employment Tax Deductions Explained
Tax Season 2024 (for filing year 2023 taxes): Tax Benefits for the Self-Employed Being self-employed comes with its own set of financial responsibilities, but it also offers opportunities for tax deductions and credits that can help reduce the overall tax burden. Changes in the tax code in 2018 (via the Tax Cuts and Jobs Act… [Read More]
We Have 22 Locations To Better Serve You In the State of Georgia
Whether you live in Alpharetta, Cartersville or Riverdale, there’s a Daniel Ahart Tax Service office near you It’s important to remind our existing and prospective clients that we are open all year round so that we are ready to assist you with your personal and business tax needs regardless of when you need us the… [Read More]
$6000 Tax Advances Available Now: Are They Worth It?
You can get tax refund advances of up to $6,000 but isn’t the best fit for each particular situation From January through April, a tax refund loan can be a great way to get money quickly. But you need to pay some fees, so make sure you consider the pros and cons of your particular… [Read More]
Can I Still Make A Retirement Contribution for 2023?
Current ID Social Security Employment Authorization (if applicable) Proof of Income (Form W2, Form 1099, Bank Statements) Form 1095A Health Insurance Virtual currency transaction reports Dependents (ID, birth certificate, school or medical report) *Actual address (Bill) Bank Information (Route and account number), it is necessary if you receive a refund or if you want to… [Read More]
When Do We Say We Are Ready to Prepare Our Taxes?
Current ID Social Security Employment Authorization (if applicable) Proof of Income (Form W2, Form 1099, Bank Statements) Form 1095A Health Insurance Virtual currency transaction reports Dependents (ID, birth certificate, school or medical report) *Actual address (Bill) Bank Information (Route and account number), it is necessary if you receive a refund or if you want to… [Read More]
Crypto Taxes: Do I Need To Report My Gains And Losses?
Crypto Capital Gains and Tax Rates 2023 General tax principles applicable to property transactions apply to transactions using virtual currency. For U.S. tax purposes, as described under Notice 2014-21, transactions using virtual currency must be reported in U.S. dollars. For federal tax purposes, virtual currency is treated as property You can calculate the capital gains/losses… [Read More]
Tax Benefits for Employer-Provided Child Care in Georgia
The Georgia credit can offset up to 50% of the taxpayer’s income tax liability for the year In addition, any excess amounts can be carried forward up to five years. Qualifying expenditures include the cost of acquiring and operating an on-site facility, or amounts paid to contract with a licensed child care program (including home-based… [Read More]
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