Federal Tax | Cg

05 Jan

Review Your Strategic Plan … and Look Ahead

Posted by cgadmin
January 3, 2022

The end of one year and the beginning of another is always an optimal time to look back on the preceding 12 calendar months and ask a deceptively simple question: How’d we do? Large companies...

04 Jan

Federal Tax, Tax

Fourth Quarter Estimated Tax Payments Deadline Approaching

Posted by cgadmin
January 3, 2022

Estimated tax payments for the fourth quarter of 2021 are due on Jan. 18, 2022. In general, individuals (including sole proprietors, partners, and S corporation shareholders) must make estimated tax payments if they don’t...

27 Dec

Business, Federal Tax, Tax

A Few Days Left for Business Owners to Buy Tax-Deductible Supplies

Posted by cgadmin
December 23, 2021

Business owners: You still have a small handful of shopping days left to buy tax-deductible supplies. As you know, you can generally write off the ordinary and necessary costs of carrying on a trade...

22 Dec

Federal Tax, Tax

Important Tax Changes to Remember

Posted by cgadmin
December 21, 2021

Before the new year, the IRS reminds businesses of changes that may affect their taxes. Here’s a quick look at two. The CARES Act allowed employers to defer payments of Social Security taxes from...

20 Dec

Federal Tax, Individual Tax, Tax

Advance CTC Payment Updates

Posted by cgadmin
December 20, 2021

Taxpayers who qualify for advance Child Tax Credit (CTC) payments for 2021 should’ve received the final 2021 payment on or near Dec. 15, 2021 (if by direct deposit). This final batch totaling about $16...

16 Dec

Federal Tax, Individual Tax, Tax

RMD Deadline Dec. 31

Posted by cgadmin
December 13, 2021

Retirees: You may need to take required minimum distributions (RMDs) from retirement plans and IRAs by Dec. 31. Generally, RMDs are amounts that must be withdrawn annually from most retirement plan accounts and IRAs...

14 Dec

Federal Tax, Individual Tax, Tax

EIP & CTC Tax Filing in 2022

Posted by cgadmin
December 13, 2021

If you received Economic Impact Payments (EIPs) or advance Child Tax Credit (CTC) payments in 2021, expect to hear from the IRS in January. Letters will be mailed, listing the total EIPs or CTC...

12 Dec

Federal Tax, Individual Tax, Tax

Taxpayer Year-End Reminders

Posted by cgadmin
December 9, 2021

As 2021 comes to an end, the IRS wants to remind you of certain tasks you may want to accomplish before Dec. 31. To reduce this year’s tax liability, charitable donations must be made...

19 Nov

Federal Tax

5 Different Filing Statuses for Federal Tax Returns

Posted by cgadmin
November 17, 2021

Did you know there are five different filing statuses for federal tax returns? They generally depend on a taxpayer’s marital status as of Dec. 31. However, more than one filing status may apply in...

17 Nov

Federal Tax

Infrastructure Investment & Jobs Act

Posted by cgadmin
November 17, 2021

On Nov. 15, President Biden signed the Infrastructure Investment and Jobs Act. The $1.2 trillion law provides money for improvements in bridges, mass transit, rail, airports, ports, and waterways. The bipartisan legislation also contains...

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