Tax Tips

The US legislature is still deciding whether original BOI reporting is necessary. There are also current court cases pending, regarding filing requirements... Please see my update to the prior BOI reporting blog article published November 30, 2024. Garland

Garland Taylor CPA, Pres. Garland R Taylor CPA PC

New BOI reporting requirements for 2024. Most businesses are required to file (please see links for 23 exempt entity types). Penalties for non-filing are severe...

Please see my earlier blog article posted 1-31-24 & info in my 10-31-24 tax planning blog

Being married brings many advantages besides having someone to help fold the laundry or comfort you when you’re having a rough day. Tax benefits are another benefit, although people don’t get married to save on taxes, thankfully.

Failing to file your taxes for several years can feel overwhelming. Whether you missed deadlines due to life circumstances, a misunderstanding of tax obligations, inability to pay your tax liability or simply procrastination, you may be worried about the consequences of not filing.

Hello everybody!

Just a reminder that 2023 Extensions & 2024 1st quarter estimates are due by 4-15-23

* if you have an s corporation or multi-member LLC, those were due last month, on 3-15-24)

* see also information below for Arts tax, BOI & reporting of Foreign Bank Accounts.

Renting out a vacation home can be a lucrative venture, but it comes with a complex set of tax rules that homeowners must navigate to remain compliant and maximize their financial benefits.

More people are engaging in remote contract work than ever before. Remote contract work offers almost as many advantages to workers and companies as full-time employment.

Caring for a loved one with dementia is a profound emotional experience. The gradual loss of memory, personality changes, and the increasing need for constant care can be overwhelming. It's a time of sorrow, frustration, and often, financial strain. The emotional toll is heavy, and the financial implications can add to the burden.

More than ever, taxpayers are engaging in hobbies that bring in extra income to the household. There’s no limit to the creativity of humans, and hobbies run the gamut from painting, ceramics, baking, photography, weaving, blogging, coin collecting and more.

Hello everybody!

Just a reminder that 2022 Extensions & 2023 1st quarter estimates are due by 4-18-23

* if you have an s corporation or multi-member LLC, those were due last month, on 3-15-23)

* see also information below for Arts tax & reporting of Foreign Bank Accounts.