NOVA Tax Group

NOVA Tax Group Professional Tax & Accounting Services for Individuals & Small Businesses
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NOVA Tax Group is a small team of experienced tax and accounting professionals with the goal of providing tailored solutions to individuals and small business clients. Also, as Certified Quickbooks Online Pro Advisors, we can provide the latest in accounting, payroll & bookkeeping support to your small business.

Great article on the free tax software options out there and the risks regarding privacy. Definitely be careful and read...
03/10/2019
Review | When tax prep is free, you may be paying with your privacy

Great article on the free tax software options out there and the risks regarding privacy. Definitely be careful and read the fine print. NOVA Tax Group offers low cost filing fees for basic tax returns and privacy is a number one priority.

“Free” tax software is not all created equal. Some want to upsell you. Others want the data in your tax return.

There are a few tax breaks for Tax Year 2018 that still haven't been approved  yet.  If you might benefit from these tax...
02/12/2019
Congress has yet to approve these valuable tax breaks for 2018

There are a few tax breaks for Tax Year 2018 that still haven't been approved yet. If you might benefit from these tax extenders: deductions for mortgage insurance and college tuition and fees, you might want to delay filing. Read below.

Whether you own a home or you're shelling out for higher-education costs, Congress has yet to approve these breaks known as tax extenders.

Despite the government shutdown, the Internal Revenue Service confirmed that it will process tax returns beginning Janua...
01/15/2019
IRS Confirms Tax Filing Season to Begin January 28 | Internal Revenue Service

Despite the government shutdown, the Internal Revenue Service confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled. Click on the IRS News Letter below to read more.

IR-2019-01, January 7, 2019 ― Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled.

Reminder that Open Enrollment for health insurance through Healthcare.gov for 2019 ends on December 15th. -There is no l...
11/23/2018
Obamacare Open Enrollment Starts Today. Here's What to Know About This Year's Changes

Reminder that Open Enrollment for health insurance through Healthcare.gov for 2019 ends on December 15th.

-There is no longer an individual mandate for health insurance coverage for 2019 so uncovered individuals will not face a tax penalty

-There are additional cheaper "short term" plans with less coverage that are being offered for longer terms

Plus what to consider about short-term plan options.

We posted about the increases to retirement plans for 2019. Here is another item to review as many get ready for open en...
11/23/2018
Advantages of Stacking Limited Health FSA with HSAs

We posted about the increases to retirement plans for 2019. Here is another item to review as many get ready for open enrollment for benefits. If available to you, here is a great idea to think about with medical savings accounts. They can work together to save a lot in taxes. Let us know if you have any questions about pre-tax medical expense accounts.

Some may think that enrolling in a Health Savings Account (HSA) means that you no longer can or need to participate in a Health Care flexible spending account (FSA) and that is not necessarily true in all circumstances.

IRS Announces 2019 Retirement Contribution IncreasesIRA Contributions will increase from $5,500 to $6,000. The additiona...
11/06/2018
Retirement contribution limits will rise in 2019

IRS Announces 2019 Retirement Contribution Increases

IRA Contributions will increase from $5,500 to $6,000. The additional catch up for 50 and older will remain at $1,000.

401(k)s, 403(b)s, most 457 plans and the federal government's Thrift Savings Plan will increase from $18,500 to $19,000. The catch up for 50 and older will remain at $6,000.

Make those changes early in 2019 to take advantage of these increases and not have to use up more net pay to catch up later in the year.

The IRA and ROTH IRA contribution rules can be tricky.

For more information or to set up a free consultation, visit us at:
https://www.novataxgroup.com/

Good news retirement savers: The Internal Revenue Service announced cost of living increases to the contribution limits for retirement-related plans in 2019.

Review Your Paycheck Tax Withholdings for 2018!The GAO has reported that many of us should review how much tax is being ...
11/04/2018
30 million people are not withholding enough for taxes. How to tell if you’re one of them

Review Your Paycheck Tax Withholdings for 2018!

The GAO has reported that many of us should review how much tax is being withheld from our paychecks. The new Tax Act brought many fundamental changes including new tax rates. As part of this change, paychecks and withholdings were adjusted in the beginning of the year. You may have noticed an increase in take home pay early in 2018. However, the w4 paycheck withholdings may be withholding too much or more importantly too little.

There is still time to make adjustments for 2018 or at least be well prepared for a potential April bill. And you can adjust for 2019 as well.

We help many clients review their paycheck withholdings for 2018 and be ready for the new tax law.

For more information or to set up a free consultation, visit us at:
https://www.novataxgroup.com/

About 2 in 10 taxpayers will be writing a check to Uncle Sam next spring. Here's how to make sure you don't wind up with a huge tax bill in 2019.

05/11/2018

The tax deadline has passed for most taxpayers to file their tax returns. If you haven't filed a 2017 tax return yet, it's not too late, and it may be easier than you think. Filing can reduce penalties and head off much more time-consuming and damaging enforcement actions. Contact us and we can help get you filed.

https://www.novataxgroup.com/newsletter.php#2

01/28/2016
Taxpayer Guide to Identity Theft

Don't become a victim of tax-related identity theft. Read these tips from the IRS to help reduce your risk of becoming a victim and steps to take if you do become a victim. Nova Tax Group would also like to recommend filing your return as early as possible to reduce the chances of tax-related identity theft, especially if you are expecting a refund,

For 2016, the IRS, the states and the tax industry joined together to enact new safeguards and take additional actions to combat tax-related identity theft. Many of these safeguards will be invisible to you, but invaluable to our fight against these criminal syndicates. If you prepare your own retur…

Only a few days remaining to enroll in a Healthcare plan for 2016.  The deadline is Sunday, January 31st after which the...
01/28/2016
2015-10-26 - Centers for Medicare & Medicaid Services

Only a few days remaining to enroll in a Healthcare plan for 2016. The deadline is Sunday, January 31st after which the enrollment period will be closed for the remainder of the year. Follow the link below to read more from CMS and to see the average rate change in premiums.

The page could not be loaded. The CMS.gov Web site currently does not fully support browsers with “JavaScript” disabled. Please enable “JavaScript” and revisit this page or proceed with browsing CMS.gov with “JavaScript” disabled. Instructions for enabling “JavaScript” can be found here. Please note…

NOVA Tax Group
01/19/2016

NOVA Tax Group

01/18/2016

We hope you are having a great start to the New Year!

The NOVA Tax Group team is ready to start the 2016 tax season. We are excited to introduce our updated website, www.novataxgroup.com. The new site has lots of great tips and strategies for individuals and small businesses, but more importantly for the upcoming tax season, the site has 2 options to upload and send your documents easily and securely.

We are excited to introduce a new member of the team, Benny Piccolo. As an experienced CPA, Benny rounds out our team of tax professionals. In addition, we have expanded our offerings to include accounting, payroll, and bookkeeping services for entrepreneurs and small businesses. And as always, we have Pat Kerns to guide us through the tax season.

NOVA Tax Group is geared up and ready. Please feel free to contact us anytime to get your tax returns started!

NOVA Tax Group
01/18/2016

NOVA Tax Group

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01/18/2016

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10/22/2015

We're here to help.

11/07/2013

IRS Fast Track Settlement Program Now Available Nationwide; Time-Saving Option Helps Small Businesses Under Audit! Call us to talk!!

Address

19301 Winmeade Drive Suite 212
Leesburg, VA
20176

Opening Hours

Monday 08:00 - 17:00
Tuesday 08:00 - 17:00
Thursday 08:00 - 17:00
Friday 09:00 - 17:00
Saturday 11:00 - 17:00

Telephone

(703) 218-1227

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