Entries by CMACPA

Record Keeping

Need help on keeping your records? Check out the full article here: https://www.irs.gov/…/small-businesses…/recordkeeping If you haven’t already filed your tax return and would like assistance with tax preparation and/or planning, contact our office at www.cmacpa.net to schedule a consultation.

Did You Receive Unemployment Benefits This Year?

Millions of Americans are going to be in for a rude awakening this tax season when they discover they owe the IRS money for unemployment payments. Check out the full article here: https://www.cnbc.com/…/how-unemployment-benefits-can… If you haven’t already filed your tax return and would like assistance with tax preparation and/or planning, contact our office at www.cmacpa.net […]

What You Need To Know About Claiming Dependents

Taxpayers with dependents who don’t qualify for the child tax credit may be able to claim the credit for other dependents. The maximum credit amount is $500 for each dependent who meets certain conditions. Check out the full article here: https://www.irs.gov/…/what-taxpayers-need-to-know-about… If you haven’t already filed your tax return and would like assistance with tax […]

Gig Economy Tax Center

The gig economy—also called sharing economy or access economy—is activity where people earn income providing on-demand work, services or goods. Often, it’s through a digital platform like an app or website. Check out the full article here: https://www.irs.gov/businesses/gig-economy-tax-center If you haven’t already filed your tax return and would like assistance with tax preparation and/or planning, […]

Earned Income Tax Credit

The Earned Income Tax Credit (EITC) helps low- to moderate-income workers and families get a tax break. If you qualify, you can use the credit to reduce the taxes you owe – and maybe increase your refund. Check out the full article here: https://www.irs.gov/…/ind…/earned-income-tax-credit-eitc If you haven’t already filed your tax return and would like assistance […]