Paxton Business Services

07/21/2023

WV Tax Tip: Pay the 2nd half of your motor vehicle property taxes between January 1, 2024 and April 1, 2024. DO NOT pay the full year in 2023.

2024 is the first year for the Motor Vehicle Property Tax Adjustment Credit which with help offset your West Virginia income tax liability.

Be sure to read all the details found on TSD-454 issued by the WV Tax Division.
https://tax.wv.gov/Documents/TSD/tsd454.pdf

08/03/2022

Starting in 2022 Qualified educators can deduct up to $300 of trade or business expenses that weren't reimbursed. If two married educators are filing a joint return, the limit rises to $600. These taxpayers cannot deduct more than $300 each.

Tax Tip 2022-118, August 3, 2022 — Teachers go above and beyond for their students, often buying classroom supplies needed to make learning successful. The educator expense deduction allows eligible teachers and administrators to deduct part of the cost of technology, supplies and training from th...

02/11/2022

01/05/2022

The IRS will be sending information letters to recipients of advance child tax credit payments and third Economic Impact Payment.

Keep these letters!

Using the information in these letters when preparing a tax return can reduce errors and delays in processing.

COVID Tax Tip 2022-03, January 5, 2022 — The IRS started issuing information letters to advance child tax credit recipients in December. Recipients of the third round of the Economic Impact Payments will begin receiving information letters at the end of January.

12/06/2020

Professionals who earn the Not-for-Profit Certificate I badge apply core concepts in not-for-profit financial reporting, auditing, governance, and tax compliance concepts. Earners recognize U.S. GAAP reporting standards applicable to not-for-profits and identify basic state and federal filing requir...

11/11/2020

To all those who have served, and those who continue to serve… Happy Veterans Day!

04/22/2020

Remember to reduce, reuse, and recycle.🌎✨

04/12/2020

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