If you accidentally made any omissions on your tax return or made mistakes while filling out the paperwork, you still have the ability to go back and make the proper amendments. Here’s some information from an accounting firm in Union City, NJ about how you can do this: Know that you cannot e-file amendments: While the IRS has come a long way technologically with its ability to e-file quickly and easily, you should know that amendments aren’t quite as simple. You’ll need to use Form 1040X, Amended U.S. Individual Income Tax Return, to correct your tax return, and you’ll have... View Article
Personal income taxes are due in mid-April—April 15, to be exact, unless that date falls on a weekend or holiday. If you’re unable to meet this deadline, though, you have the ability to apply for an extension on your filing time with the IRS. Your reasons for needing the extension are irrelevant—whether you forgot to file or need more time to get your money or documents together, you’re able to file for an extension that gives you an extra six months to get all your paperwork submitted. Here’s some information from our accounting firm in Union City, NJ about how... View Article
There’s a lot of planning and thought that goes into starting up a business. It’s important to make sure you’ve covered all your bases and addressed all the issues you need to before you can actually move forward with your new company. With this in mind, here’s a quick overview of the main steps you need to take up when starting your business, from a company that assists with business registration in Union City: Develop your business plan: A business plan is going to be critical not only for guiding your company forward (especially in its early years), but also... View Article
It’s never too early for you to start thinking about your tax preparation for the next year! Smart people are always looking for ways they can save money on their taxes, and even with the big changes that came with the Tax Cuts and Jobs Act this past year, there are still plenty of opportunities for you to see some savings. There are several types of savings and spending accounts that will give you some tax savings that really add up over time: 401(k)s, flexible spending accounts (FSAs) and health savings accounts (HSAs). Read on for a closer look at... View Article
