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Venmo and PayPal Tax Reporting Change Many Americans are bracing for a new reporting change for third-party payment networks like Venmo or PayPal. Starting in 2022, you’ll receive Form 1099-K, which reports income to the IRS, for business transfers over $600. If you receive a 1099-K for business transfers, you’ll also report that income, along with… [Read More]

Planning ahead can help people file an accurate return and avoid processing delays that can slow tax refunds. As wrote in a previous blog “What About a Tax Checkup?,” this is also definitely a good time for filers to prepare for next year’s tax season by reviewing withholdings, retirement contributions, child tax credits, unemployment income and more…. [Read More]

Don’t Miss Your Tax Deadline If You Requested An Automatic Extension Earlier This Year You needed more time to prepare your federal tax return? Fine, now it’s the time to file, as long as you requested before April 18, 2022 an automatic extension of time to file your U.S. individual income tax return. The IRS encourages… [Read More]

Kemp proposed a second round of tax refund checks and restore a property tax break that hasn’t been activated by the state legislature since 2008. Did you know that Brian Kemp announced last August 11, 2022 that he will seek a second round of tax rebate checks to Georgia taxpayers and the return of a… [Read More]

Visit this page to use the Home Financing Calculators Did you know that using bi-weekly payments can accelerate your mortgage payoff and save you thousands in interest? Also, do you know the APR on your adjustable rate mortgage? Use these home financing calculators to help determine whether you should buy or rent, and much more!… [Read More]

Visit this page to use the Tax Estimators Calculators How much in income taxes will you pay? If you are self-employed, how much will you pay in self-employment taxes? Use these tax calculators to help determine your tax bills for the upcoming tax year. With these tax calculators, you can estimate your tax refund or… [Read More]

Visit this page to use the Business Finance Calculators Should your business consolidate its debt? Use these business finance calculators to help determine your tax savings on loans or credit lines with tax deductible interest payments, and much more! With these business finance calculators, you can estimate your tax savings on various business decisions, including… [Read More]

Georgia residents can now claim a fetus as a dependent on their tax returns for a $3,000 exemption. Once the Supreme Court reversed Roe in June 2022, many expected the courts to revisit Georgia’s law. That effectively happened in July when a federal appeals court in Atlanta reversed the previous lower court ruling, enacting the… [Read More]

What should taxpayers do if they get an audit from the IRS? Reports suggest that the Internal Revenue Service intends to use nearly $80 billion in new funding from The Inflation Reduction Act of 2022, to pursue toward the hiring of 87,000 new IRS agents. One of the items from the bill states, “we are closing tax… [Read More]

As published on a previous blog “HB 1302 Tax Refund Explained” on Mar 25, 2022, HB 1302 allows Georgia taxpayers a refund of some or all of the 2020 income taxes due, as reported by dor.georgia.gov. What do I need to do to get this refund? To submit the attestation online, follow the steps below: Georgia… [Read More]

We can help you register a DBA (“doing business as”), also known as a trade name, assumed name or fictitous name The top three reasons why you may need to register a DBA in the State of Georgia are: Although there are many reasons and benefits to register a DBA in Georgia, keep in mind… [Read More]

National Small Business Week is celebrated during the first week of May every year and takes place from May 1 to 7 this year. The due date for filing your federal individual income tax return is generally April 15 of each year. However, because of the Emancipation Day holiday in Washington, D.C., for the 2021… [Read More]