Burrell Tax Solutions

02/03/2025

STEP ONE: Don’t panic.

STEP TWO: Contact your tax accountant! 📲

Those are the *very* simplified steps I want you to take if you receive a tax notice.

And remember, a tax notice is NOT always a bad thing. 📬

Reading your notices and following the steps outlined is critical to avoid headaches down the road!

02/02/2025

If you or someone you know were affected by the fires in Southern California (specifically Los Angeles County), your tax filing deadline for various returns that would have originally been due between January 7th and October 15th is now postponed to October 15th, 2025.

Some of the tax returns affected by this tax relief are:

→ Your individual tax return
→ Estimated tax payments
→ Calendar-year business tax returns
→ Quarterly payroll and excise tax returns
→ 2024 contributions to IRAs and health savings accounts for eligible taxpayers

If you have any questions about this tax relief, check out IRS.gov or shoot me a message! 📲

02/01/2025

“I don’t want a Black History Month. Black history is American history.” —Morgan Freeman

02/01/2025

“Success is to be measured not so much by the position that one has reached in life as by the obstacles which he has overcome while trying to succeed.” —Booker T. Washington

01/31/2025

Who doesn’t want their refund check hitting their bank account FASTER?! 🤑

Use these two stats-backed methods to speed up your tax refund this year:

→ Opt to receive your refund via direct deposit. 8/10 taxpayers use this method!

→ E-file your tax return. Per the IRS, “a taxpayer who e-files will typically see their refund in less than 21 days.”

P.S. I can help ensure you do both of these things when I help you file your 2024 tax return!

01/31/2025

📌 SAVE this post to make sure you don’t miss a tax deadline in 2025!

Want to be ensure you’re staying on top of your due dates? Click the link in my bio and sign up for my FREE monthly newsletter.

P.S. Stay tuned for Q2 important due dates in a few months!

01/31/2025

01/28/2025

Want to know your NEW 2025 tax brackets? 💵

Look no further! Swipe through this post to find your updated tax bracket.

Is your tax bracket higher than expected?

Let’s make sure you’re keeping as much of your hard-earned money as possible! Call today for help filing your 2024 taxes. 504-521-6334

01/28/2025

Keep an eye on your mail if you qualified for, but did NOT claim, the Recovery Rebate Credit on your 2021 tax return. 📬

The Recovery Rebate Credit is a refundable credit that you may qualify for if you didn’t receive one (or more) of your stimulus payments. 💸

No action needed on your part - the payments will be sent out automatically and should arrive by late January!

01/28/2025

🚨 It’s official, tax season opened today! January 27, 2025.🚨

Get a headstart by calling asap to get estimates or schedule your appointment!

⚜️We are always accepting new clients
⚜️Virtual appointments are available
⚜️Advances up to $7000

01/15/2025

Your LAST estimated tax payment is due on January 15th, here’s what you need to know: ⤵️

WHO HAS TO PAY?

If you expect to owe $1,000 or more in taxes when you file your tax return, you generally need to make estimated tax payments.

This generally includes self-employed individuals, business owners, people with significant investment income, and anyone earning income without sufficient withholdings.

WHEN ARE PAYMENTS DUE?

Estimated taxes are paid in quarterly installments. For 2024, the remaining fourth quarter installment is due on January 15, 2025.

Payments can be sent via mail with Form 1040-ES, but I recommend checking out IRS.gov/payments to learn more about the IRS’s electronic payment methods!

HOW MUCH DO I PAY?

You should be paying taxes on the income earned in the period covered by the quarterly tax payment.

To avoid an underpayment penalty, you need to pay at least 90% of the tax you owe in the current year, or 100% (110% for high-income earners) of your prior-year tax liability (whichever is lower).