Resources
May 2023 Newsletter
Featured Articles
Saving for Education: Understanding 529 Plans
May 2023
Many parents are looking for ways to save for their child's education, and a 529 Plan is an excellent way to do so. Even better is that thanks to the passage of tax reform legislation in 2017, 529 plans
What Are Estimated Tax Payments?
May 2023
Estimated tax is the method used to pay tax on income not subject to withholding, such as income from self-employment, interest, dividends, alimony, and rent and gains from the sale of assets, prizes, and awards. You also may have
Changing Jobs? Don't Forget About Your 401(K)
May 2023
One of the most important questions you face when changing jobs is what to do with the money in your 401(k) because making the wrong move could cost you thousands of dollars or more in taxes and lower returns.
Let's
What To Do if You Missed the Tax Deadline
May 2023
Tuesday, April 18, 2023, was the deadline for most taxpayers to file their tax returns. If you haven't filed a 2022 tax return yet, it's not too late.
First, gather any information related to income and deductions for the tax
Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.
May 2023 Newsletter
Tax Tips
Tax Due Dates for May 2023
May 2023
May 1
Employers - Federal unemployment tax. Deposit the tax owed through April if more than $500.
Employers - Social Security, Medicare, and withheld income tax. File Form 941 for the first quarter of 2023. Deposit any undeposited tax. If your tax liability
Small Business: Choosing a Payroll Service Provider
May 2023
When choosing a payroll service provider to handle payroll and payroll tax, employers should choose a trusted payroll service to help them avoid missed deposits for employment taxes and other unpaid bills. Typically, these clients remain legally responsible for
Certain Taxpayers May Need to File an Amended Return
May 2023
Taxpayers who reported certain state 2022 tax refunds as taxable income may need to file an amended tax return. Affected taxpayers include those who filed before February 10, 2023, and meet certain requirements. Taxpayers who used a tax professional
IRS Tax Debt Could Affect Passport Renewal
May 2023
As a reminder, individuals with "seriously delinquent tax debts" are subject to a new set of provisions courtesy of the Fixing America's Surface Transportation (FAST) Act, signed into law in December 2015. These provisions went into effect in February
Check the Status of a Tax Refund Using This IRS Tool
May 2023
Taxpayers can start checking their tax refund status within 24 hours after receiving an e-filed return. The easiest and most convenient way to do this is by using the "Where's My Refund?" tool on the IRS website. The tool
Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.
Copyright Eisner Advisory Group LLC © 2024. All Rights Reserved.