2020 is approaching very quickly. In the accounting and tax world, that is a big deal. For businesses, planning for the upcoming new year is essential and can help the bottom line. Here are some things you need to consider as the year-end approaches. W-2s for 2019 If you process your own payroll, you will…
Details
A year-end tax planning meeting with your CPA is a must for many taxpayers, especially those who own a business. The purpose of the meeting is to discuss and make decisions in this calendar year that will affect your tax liability and funding contributions to retirement plans. Your CPA and you can make recommendations to…
Details
Yes, you read the title correctly. There is a Hall of Fame for Accounting. The Accounting Hall of Fame recognizes accountants since the beginning of the 20th century who have made a significant contribution to the advancement of accounting. Inductees are from both accounting academia and practice. Hall of Fames There are other Hall of…
Details
As a CPA firm, we love it when our clients use QuickBooks for their bookkeeping software and accounting needs. It is a robust software that sets the standard for United States small- and medium-sized businesses. At Joshua Wilson, CPA, PC, we are Certified QuickBooks Proadvisors, so we want to make sure that you are maximizing…
Details
Depending on whether you are filing personal or business taxes, here is a list of all of the 2019 deadlines remaining for the year. The items in red are the remaining items for 2019 – returns that need to be filed or payments that need to be paid. Estimated 2019 Tax Payments (IRS Form 1040-ES) …
Details
As a CPA, it is part of my job to help people plan for their futures personally and for their businesses. This includes being ready for retirement. It is easier to start early on to set yourself up for a stress-free retirement, and to be able to meet all of your goals for you and…
Details
Do you owe the IRS back taxes? Then, you may be in jeopardy of losing your passport depending on how much you owe. Under federal law, if you owe the IRS a “seriously delinquent” tax debt, you will not be able to get or renew a U.S. passport unless you meet certain conditions. Once the…
Details
Have you ever seen these four IRS acronyms ITIN, EIN, SSN and TIN? When dealing with the IRS, you need to understand these different names, and how and when to use them? We will cover each one so you are educated about the differences. ITIN or Individual Tax Identification Number The Individual Tax Identification Number,…
Details
The Large Business and International division (LB&I) of the IRS announced in July the approval of six additional compliance campaigns for taxpayers. The LB&I to date has announced a total of 59 new campaigns. What is an IRS Compliance Campaign? An IRS compliance campaign is a specific directive on a particular tax issue which happens…
Details
Are you looking for a CPA as an individual or to help you with your business planning, accounting, or taxes? Before you hire someone, consider a face-to-face consultation so that you can make sure that you are compatible and start to build a trusted bond. This person and their staff will be essential to your…
Details