BTBA Business Solutions

01/08/2026

Dear friends,
Tax season is here again!
Get ready now.
W2's & 1099 forms are due to be MAILED no later than January 31st.
When those documents are received, you will be ready to file.
Remember...if you have health insurance through the ACA Marketplace, make sure you have your form 1095 (A,B,C) before you file.
Call if you have questions
(931) 651-1955 for BTBA

11/13/2025

10/11/2024

I have misplaced my cell phone!!
A replacement is on the way!
Meanwhile, if you need to reach me, use my office number:
931-651-1955
By The Book Accounting (BTBA)

Tuesday, October 15th is the filing deadline for those individuals who filed an extension for the 2023 Federal Income Tax Return.

07/03/2024

Copied from the official post...

Thank you to everyone who showed up today to support Greg and his family. It was a packed court on our side! Thank you to the incredible lawyers representing Greg - they did an outstanding job!! We are grateful for the witnesses who came forward and gave valuable and credible testimony. It’s so hard, at times, to allow ourselves to feel optimism after so many disappointments, but today Greg’s team really left it all on the field, and I think everyone there left feeling cautiously optimistic!

**There will be NO second day of court tomorrow! The defense and the state were able to present all of their witnesses today!**

As for ”what’s next” - the judge gave us a 3-4 month timeframe before we will see a ruling. The only thing left to do is keep Greg and his family in your thoughts and prayers and keep your fingers crossed that the judge rules in his favor! 🤞🏼🤞🏼🤞🏼

On behalf of Greg and his family, thank you again for all of your support! ❤️

01/14/2024

12/17/2021

From the IRS....

Get ready for taxes: Here’s what's new and what to consider when filing in 2022

The IRS encourages taxpayers to get informed about topics related to filing their federal tax returns in 2022. These topics include special steps related to charitable contributions, economic impact payments and advance child tax credit payments. Taxpayers can visit IRS.gov/getready for online tools, publications and other helpful resources for the filing season.

Here are some key items for taxpayers to know before they file next year.

Changes to the charitable contribution deduction

Taxpayers who don't itemize deductions may qualify to take a deduction of up to $600 for married taxpayers filing joint returns and up to $300 for all other filers for cash contributions made in 2021 to qualifying organizations.

Check on advance child tax credit payments

Families who received advance payments will need to compare the advance child tax credit payments that they received in 2021 with the amount of the child tax credit that they can properly claim on their 2021 tax return.

Taxpayers who received less than the amount for which they're eligible will claim a credit for the remaining amount of child tax credit on their 2021 tax return.
Eligible families who did not get monthly advance payments in 2021 can still get a lump-sum payment by claiming the child tax credit when they file a 2021 federal income tax return next year. This includes families who don't normally need to file a return.
In January 2022, the IRS will send Letter 6419 with the total amount of advance child tax credit payments taxpayers received in 2021. People should keep this and any other IRS letters about advance child tax credit payments with their tax records. Individuals can also create or log in to IRS.gov online account to securely access their child tax credit payment amounts.

Economic impact payments and claiming the recovery rebate credit

Individuals who didn't qualify for the third economic impact payment or did not receive the full amount may be eligible for the recovery rebate credit based on their 2021 tax information. They'll need to file a 2021 tax return, even if they don't usually file, to claim the credit.

Individuals will need the amount of their third economic impact payment and any plus-up payments received to calculate their correct 2021 recovery rebate credit amount when they file their tax return.

In early 2022, the IRS will send Letter 6475 that contains the total amount of the third economic impact payment and any plus-up payments received. People should keep this and any other IRS letters about their stimulus payments with other tax records. Individuals can also create or log in to IRS.gov online account to securely access their economic impact payment amounts.

More information:
Reconciling Your Advance Child Tax Credit Payments on Your 2021 Tax Return

Get ready for taxes: Here’s what's new and what to consider when filing in 2022.https://go.usa.gov/xeFZF

COVID Tax Tip 2021-187, December 16, 2021 — The IRS encourages taxpayers to get informed about topics related to filing their federal tax returns in 2022. These topics include special steps related to charitable contributions, economic impact payments and advance child tax credit payments.

10/18/2021

There are some simple things you can do to cut your tax preparation bill, especially if you are self employed and retain business receipts.
Sort receipts by category, i.e. Fuel (If not using mileage), Materials, Small tools, Repairs & Maintenance; vehicle separate from equipment and separate from building, etc., meals. license, permits, taxes such as Tangible Personal Property Tax, RE Tax, etc., Office supplies and general operating supplies.
Use a legal size envelope for each expense category labeled with receipt type and the year.
If you can tally each category that would be very helpful, but I always double check math, personally.
I will share some photos of a recent client drop off 2 days before the tax filing deadline. These photos represent 2.5 hours of work each, by two individuals.

10/18/2021

From the IRS......

The tax responsibilities that come with shutting down a business
There are many reasons a business owner may choose to close their doors, and there are many things that must be done to go out of business. Two important steps all business owners must take are fulfilling their federal tax responsibilities and informing the IRS of their plans. The closing a business page of IRS.gov is designed to help owners navigate the process of shutting down.

Small businesses and self-employed taxpayers will find a variety of information on the page including:

What forms to file
How to report revenue received in the final year of business
How to report expenses incurred before closure
The page also details steps all business owners should take when closing a business.

File a final tax return and related forms. The type of return to file and related forms depends on the type of business.
Take care of employees. Business owners with one or more employees must pay any final wages or compensation, make final federal tax deposits and report employment taxes.
Pay taxes owed. Even if the business closes now, tax payments may be due next filing season.
Report payments to contract workers. Businesses that pay contractors at least $600 for services including parts and materials during the calendar year in which they go out of business, must report those payments.
Cancel EIN and close IRS business account. Business owners should notify the IRS so they can close the IRS business account.
Keep business records. How long a business needs to keep records depends on what's recorded in each document.
The page also provides helpful information for business owners declaring bankruptcy, selling their business and terminating retirement plans