by PSA CPA | Feb 1, 2024 |
How to treat the home office deduction Many people who work for themselves do so from home. If that describes you, you are probably familiar with the home office deduction. If you have a home office that you utilize on a regular basis and only for business purposes,...
by PSA CPA | Feb 1, 2024 |
Tax season is here, which means spring is just around the corner. It’s the time of year when we look forward to better weather and tax refunds, but beware: tax season is also scam season. In recent years, the IRS has observed an increase in tax fraud, such as...
by PSA CPA | Jan 1, 2024 |
With tax season on the way, the IRS reminds businesses that the deadline for filing pay statements and paperwork for independent contractors to the government is Jan. 31. Employers must submit copies of Forms W-2, Wage and Tax Statement, and W-3, Transmittal of Wage...
by PSA CPA | Jan 1, 2024 |
As tax season approaches, keep an eye out in the mail for envelopes labeled “tax information.” Among the numerous items they may include are several sorts of 1099 tax forms. But what are they used for, and why are they required? Let ‘s see. A 1099...
by PSA CPA | Jan 1, 2024 |
The Corporate Transparency Act (CTA) has gone into effect as of January 1, 2024, affecting millions of small businesses across the United States. Understanding the complexities of this legislation and its possible implications is critical for small companies....
by PSA CPA | Jan 1, 2024 |
As taxpayers prepare for tax filing season, it is critical that they choose tax return preparers that have the necessary skills, education, and knowledge to file tax forms correctly. Taxpayers are ultimately accountable for all the information on their tax returns,...
It’s interesting to see how Social Security benefits are taxed differently depending on income and location. I didn’t realize only…