Mollman CPA, PLLC

06/20/2024

I recommend you (and your spouse) setup and IRS.gov ID.me account(s) to view useful and easily accessible information relating to your tax account.

The best tool that you're not using? An IRS online account! With your online account, you can view your balances, make payments, get transcripts, and more. Use a photo ID to verify your identity using ID.me and you're on your way to detailed account information! https://ow.ly/Lof850QKHP7

06/20/2024

Increasing number of scams arising. Be mindful of what you answer, open, respond to, etc.

The doesn’t initiate contact with taxpayers by email, text message or through social media to request personal or financial information.

Alert your loved one to these scams for their : https://ow.ly/WEA850Sh9xV

06/20/2024

The has options to help you if you missed the April tax filing deadline. Filing as soon as possible and paying electronically can help you limit late payment penalties and interest charges.

For more tips, read: https://ow.ly/u6mp50SfE9v

04/14/2024

Need more time to file? Make sure to get your extension filed along with paying any estimated balance due by Monday!

If you owe taxes and can't pay the balance by the deadline, make sure to file your return on time and pay as much as you can. Filing on time will help you avoid additional penalties from piling up. An reminder: An extension of time to file is not an extension of time to pay.

Get started at www.irs.gov/efile

03/17/2024

Less than 4 weeks away from the individual tax deadline. You can always request an extension for additional time; however, be sure to pay in enough to cover your balance due to prevent penalties and interest from accruing.

Any excess paid in can be refunded with the filing of your extended return, or applied to next year.

When you owe taxes, it's important that you pay the entire balance by April 15. The is reminding you that when you pay your taxes late, you'll strike out by gaining additional interest and penalties. This will significantly increase the amount you owe because fees continue to accrue until the balance is paid in full. Play it safe and pay as much as you can before the deadline.

Learn how penalties impact your bill at www.irs.gov/penalties

03/17/2024

For all owners of existing LLCs make sure to file your BOI through the FINCEN by 1/1/2025. Beginning in 2024, any new LLCs must file this report within 90 days of creation.

The plaintiffs who won a summary judgment that bars enforcement of the Corporate Transparency Act against them said the Financial Crimes Enforcement Network should pause beneficial ownership information reporting requirements for all businesses.

07/06/2021

Business owners, don't miss out on this direct tax benefit! Normally reduced to a 50% deduction on your taxes, you can now claim a 100% deduction on restaurant food and beverages for a limited time.

ICYMI: Businesses can claim 100% of their food or beverage expenses paid to restaurants between Jan. 1, 2021 and Dec. 31, 2022. Click here to learn more: go.usa.gov/xHgy8

07/06/2021

Don't fall for scams relating to the advance child tax credits. Be sure to watch this video to be informed of potential threats.

07/06/2021

See if you qualify for the advance child tax credits beginning this month through the rest of 2021. Also, consider opting out of these payments as they can help offset your tax liability when you file your 2021 tax return next year.

There have been changes to the Child Tax Credit that will benefit many families as they receive advance payments starting in summer 2021. For more details, v...

06/27/2021

Stressed out? Are you wasting your valuable time updating books and keeping records for your business? Instead you should consider hiring a CPA so that you can focus on what's important to you.

Contact Tanner J. Mollman, CPA for a free consultation with accounting and tax services offered at 405-990-5733 or [email protected]