Bowden Group Bookkeeping Services

02/23/2022

Just a reminder... the IRS does not stand by the advice it's agents give out - whether on a phone call or in writing - so if you are not sure about how to handle something re your tax filing PLEASE ask an EA or a CPA (who will be held responsible)!
I don't do taxes, but I can refer you to local CPAs.

11/11/2021

We honor all those who served... thank you veterans!

10/08/2021

That feeling when your client tells you she's never been so organized financially and you just want to happy dance!

Nothing makes me happier than a client who is getting the information they need to run their business well.

10/06/2021

Its already the beginning of Q4... are you ready for year-end? I like to close my clients books in January so their CPA can tackle taxes when it best suits their schedule! But that won't happen if your books aren't already in order.
If you need bookkeeping help, reach out today!

08/04/2021

Folks, please be wary of these fraudulent emails... the IRS will NOT email you like this!

06/30/2021

Well, this is promising! Many in NJ were hurt by the SALT deduction limitations that came with the 2017 Tax Cuts and Jobs Act...

A rare show of bipartisan unity unfolded Tuesday, with 18 lawmakers making the case for an expansion of the state and local tax deduction.

06/15/2021

Many of us know (or know of) families living on the edge... this new tool offered by the IRS can be a gamechanger... please share the info so these families get their tax credit!

"For tax year 2021, the Child Tax Credit increased from $2,000 per qualifying child to $3,600 for children ages five and under at the end of 2021; and $3,000 for children ages six through 17 at the end of 2021. Families will be automatically enrolled in the program if they regularly file tax returns, but for those who don’t the IRS and the Treasury are offering a Non-Filers tool at this page on IRS.gov."

The Internal Revenue Service and the Treasury Department introduced an online tool that enables families to register for monthly payments of the expanded Child Tax Credit.

06/11/2021

This is welcome news - the IRS has issued guidance re covid tax credits related to employee leave!

Tax Credits for Paid Leave Under the American Rescue Plan Act of 2021 for Leave After March 31, 2021

06/02/2021

I'm following this...

"Inheritors are going to get killed" under the White House’s proposal to put the brakes on tax-free intergenerational transfers of wealth.

05/26/2021

There has been a surge of phishing emails pretending to be from the IRS re stimulus payments. Do NOT click on it! The IRS absolutely does NOT email folks about stimulus payments, about tax refunds, etc.

Here's a sample I received yesterday!

04/30/2021

WHEN you file your federal taxes, keep in mind that IF you collected unemployment in 2020 AND your gross income is less than $150k, the first $10,200 of UE is TAX FREE!

IF you filed before this change was made (on March 11) the IRS will automatically recalculate your refund.

https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-may

03/26/2021

Folks on Social Security will *finally* be getting their stimulus payments from Biden's American Rescue Plan!

The Social Security Administration transmitted the necessary information to the IRS so it can begin sending Economic Impact Payments to nearly 30 million beneficiaries after an ultimatum from Congress.