From collecting stamps and woodworking to crafting and quilting, people have all kinds of hobbies – and most of these hobbies will never turn a profit. For hobbies that do earn income, people should know that they must report it on their tax return. They should also be mindful that their hobby might be a business. The IRS has tips posted to help you discern the difference.
We have changed our payment system to save you money and make it more convenient for you.
Businesses, often called Offer in Compromise mills, make huge claims about reducing unpaid taxes for pennies on the dollar. Unfortunately, these companies sometimes don’t deliver and charge large fees.
Benjamin Franklin once said, “In this world nothing can be said to be certain, except death and taxes.” Thankfully, if you do owe federal taxes, the IRS provides a variety of ways in which you can make your payments. These are applicable for both business and personal.
The IRS reminds taxpayers to watch out for and avoid advertised schemes, many of which are now promoted online, that promise tax savings that are too good to be true and will likely cause taxpayers to legally compromise themselves.
From electric vehicles to solar panels, “going green” can offer both environmental and financial benefits.
EVERETT February 8, 2022 -- Toyer, Dietrich & Associates CPAs has been selected for the 2022 Best of Everett Award in the Accountant category by the Everett Award Program. Each year, the Everett Award Program identifies companies that we believe have achieved...
Even though the IRS is mailing out letters with the total amount of Advanced Child Tax Credit payments received, these may be incorrect.
Our office, like most other CPAs, has had to review and raise our pricing. This is due to many factors, most of which are not seen by our customers.
The new process can reach more people through the expanded use of identity documents and increased help desk assistance for taxpayers who encounter a problem when attempting to verify their identity online. Developed under the Secure Access Digital Identity initiative (SADI), the new process complies with a federal mandate.
2022 tax filing season begins Jan. 24; IRS outlines refund timing and what to expect in advance of April 18 tax deadline
The filing deadline to submit 2021 tax returns or an extension to file and pay tax owed is Monday, April 18, 2022, for most taxpayers.
Our office has received many questions both regarding the Stimulus and Advanced Child Tax Credits as well as the new regulations about payment apps.
We strive to build a relationship with you, so we may better understand your individual accounting needs. This means we also go above and beyond to provide you with opportunities for growth. We will take the time to get things done and that we will do them right according to your individual needs and circumstances.