KWP TAX LLC

KWP TAX LLC At KWP TAX LLC, individuals and small businesses are our core clients. We provide accurate tax and b

Merry Christmas to all our clients, prospects, and fans.
12/25/2024

Merry Christmas to all our clients, prospects, and fans.

Eligible New York Families to Receive up to $330 per child in Tax Credit Payments Starting this August.
08/06/2024

Eligible New York Families to Receive up to $330 per child in Tax Credit Payments Starting this August.

๐’๐ญ๐จ๐ฉ! ๐€๐ฌ๐ค ๐Ÿ๐จ๐ซ ๐ก๐ž๐ฅ๐ฉ; ๐ฉ๐š๐ฒ ๐Ÿ๐จ๐ซ ๐ข๐ญ ๐ข๐Ÿ ๐ฒ๐จ๐ฎ ๐ฆ๐ฎ๐ฌ๐ญ... ๐ฌ๐ญ๐จ๐ฉ ๐ฌ๐ญ๐ซ๐ž๐ฌ๐ฌ๐ข๐ง๐ .Earlier today, a client reached out for help regarding a ta...
06/21/2024

๐’๐ญ๐จ๐ฉ! ๐€๐ฌ๐ค ๐Ÿ๐จ๐ซ ๐ก๐ž๐ฅ๐ฉ; ๐ฉ๐š๐ฒ ๐Ÿ๐จ๐ซ ๐ข๐ญ ๐ข๐Ÿ ๐ฒ๐จ๐ฎ ๐ฆ๐ฎ๐ฌ๐ญ... ๐ฌ๐ญ๐จ๐ฉ ๐ฌ๐ญ๐ซ๐ž๐ฌ๐ฌ๐ข๐ง๐ .

Earlier today, a client reached out for help regarding a tax matter. It was a simple matter. However, they have struggled in vain to get it done on their own for two weeks. Being a professional, I got it done for them in less than 5 mins.

Client's response : ๐‘พ๐’๐’˜, ๐’•๐’‰๐’‚๐’• ๐’˜๐’‚๐’” ๐’†๐’‚๐’”๐’š. ๐‘ฐ๐’• ๐’•๐’๐’๐’Œ ๐’Ž๐’† 2 ๐’˜๐’†๐’†๐’Œ๐’” ๐’๐’‡ ๐’‡๐’“๐’–๐’”๐’•๐’“๐’‚๐’•๐’Š๐’๐’. ๐‘ป๐’‰๐’‚๐’๐’Œ ๐’š๐’๐’–!

The moral of the story: don't deal with everything on your own; ask for help when you are at your wits end. More importantly, seek professional help to get things done quickly and properly. It will save you a lot of stress.

Dm .w.p.t.a.x.l.l.c for all your individual and business tax needs.

๐€๐ญ ๐š ๐ฐ๐ž๐๐๐ข๐ง๐  ๐œ๐ž๐ซ๐ž๐ฆ๐จ๐ง๐ฒ, ๐ญ๐š๐ค๐ข๐ง๐  ๐š ๐ฐ๐ž๐ฅ๐ฅ-๐๐ž๐ฌ๐ž๐ซ๐ฏ๐ž๐ ๐ญ๐š๐ฑ ๐›๐ซ๐ž๐š๐ค... ๐›๐ž ๐ซ๐ข๐ ๐ก๐ญ ๐›๐š๐œ๐ค... ๐ฅ๐ž๐š๐ฏ๐ž ๐š ๐ฆ๐ž๐ฌ๐ฌ๐š๐ ๐ž ๐Ÿ˜€
02/17/2024

๐€๐ญ ๐š ๐ฐ๐ž๐๐๐ข๐ง๐  ๐œ๐ž๐ซ๐ž๐ฆ๐จ๐ง๐ฒ, ๐ญ๐š๐ค๐ข๐ง๐  ๐š ๐ฐ๐ž๐ฅ๐ฅ-๐๐ž๐ฌ๐ž๐ซ๐ฏ๐ž๐ ๐ญ๐š๐ฑ ๐›๐ซ๐ž๐š๐ค... ๐›๐ž ๐ซ๐ข๐ ๐ก๐ญ ๐›๐š๐œ๐ค... ๐ฅ๐ž๐š๐ฏ๐ž ๐š ๐ฆ๐ž๐ฌ๐ฌ๐š๐ ๐ž ๐Ÿ˜€

๐–๐ข๐ญ๐ก ๐‹๐จ๐ฏ๐ž ๐Ÿ๐ซ๐จ๐ฆ ๐“๐ก๐ž ๐ˆ๐‘๐’ โค๏ธ ๐Ÿ˜ ๐Ÿ’– โฃ๏ธ
02/14/2024

๐–๐ข๐ญ๐ก ๐‹๐จ๐ฏ๐ž ๐Ÿ๐ซ๐จ๐ฆ ๐“๐ก๐ž ๐ˆ๐‘๐’

โค๏ธ ๐Ÿ˜ ๐Ÿ’– โฃ๏ธ

We see this face a lot around this time of year. It is usually on people who have failed to think about or plan their ta...
02/05/2024

We see this face a lot around this time of year. It is usually on people who have failed to think about or plan their taxes throughout the year. These folks visit tax and financial professionals once a year - at tax filing time - and they are surprised at how much they have to pay in taxes.

To avoid surprising tax bills and other surprises at tax time, have a tax professional in your corner all year round. Tell them your business and financial plans for the year; let them help you plan things in the most efficient ways possible to save on cost and taxes.

Waiting until tax filing time to find tax-savings strategies is usually a futile effort. There isn't much that can be done at this time. For maximum tax savings, start your tax plan at the beginning of the year and update it as the year progresses.

๐‰๐จ๐ข๐ง ๐ฎ๐ฌ ๐ญ๐จ๐ฆ๐จ๐ซ๐ซ๐จ๐ฐ ๐จ๐ง ๐ˆ๐† ๐‹๐ข๐ฏ๐ž
02/02/2024

๐‰๐จ๐ข๐ง ๐ฎ๐ฌ ๐ญ๐จ๐ฆ๐จ๐ซ๐ซ๐จ๐ฐ ๐จ๐ง ๐ˆ๐† ๐‹๐ข๐ฏ๐ž

๐€๐ฅ๐ฅ ๐ข๐ง ๐Ÿ๐š๐ฏ๐จ๐ซ, ๐ฌ๐š๐ฒ ๐€๐˜๐„..news today, the Consumer Financial Protection Bureau (CFPB) is proposed to cut ๐Ž๐•๐„๐‘๐ƒ๐‘๐€๐…๐“ ๐…๐„๐„๐’ fro...
01/18/2024

๐€๐ฅ๐ฅ ๐ข๐ง ๐Ÿ๐š๐ฏ๐จ๐ซ, ๐ฌ๐š๐ฒ ๐€๐˜๐„
..news today, the Consumer Financial Protection Bureau (CFPB) is proposed to cut ๐Ž๐•๐„๐‘๐ƒ๐‘๐€๐…๐“ ๐…๐„๐„๐’ from $35 to $3. The banks are against. All in favor, say ๐€๐˜๐„.

๐‘น๐’†๐’„๐’๐’“๐’… ๐’€๐’๐’–๐’“ ๐‘ถ๐’…๐’๐’Ž๐’†๐’•๐’†๐’“ ๐‘น๐’†๐’‚๐’…๐’Š๐’๐’ˆ ๐‘ป๐’๐’…๐’‚๐’šIf you drive for business (either your personal car or business vehicle), you need to ...
01/02/2024

๐‘น๐’†๐’„๐’๐’“๐’… ๐’€๐’๐’–๐’“ ๐‘ถ๐’…๐’๐’Ž๐’†๐’•๐’†๐’“ ๐‘น๐’†๐’‚๐’…๐’Š๐’๐’ˆ ๐‘ป๐’๐’…๐’‚๐’š

If you drive for business (either your personal car or business vehicle), you need to record your beginning and end of year odometer reading. The IRS requires that you keep a ๐ฆ๐ข๐ฅ๐ž๐š๐ ๐ž ๐ฅ๐จ๐  in order to deduct vehicle expenses on your tax return.

Your mileage log must show business and non-business related miles driven on your car during the year. Please NOTE: Only ๐๐ฎ๐ฌ๐ข๐ง๐ž๐ฌ๐ฌ-๐‘๐ž๐ฅ๐š๐ญ๐ž๐ ๐Œ๐ข๐ฅ๐ž๐ฌ are tax deductible.

Below is a sample ๐ฆ๐ข๐ฅ๐ž๐š๐ ๐ž ๐ฅ๐จ๐  :
๐๐ž๐ ๐ข๐ง๐ง๐ข๐ง๐  ๐จ๐Ÿ ๐˜๐ž๐š๐ซ: 70,253
๐„๐ง๐ ๐จ๐Ÿ ๐˜๐ž๐š๐ซ: 90,700
๐“๐จ๐ญ๐š๐ฅ ๐€๐ง๐ง๐ฎ๐š๐ฅ ๐Œ๐ข๐ฅ๐ž๐ฌ: 20,447
๐๐ฎ๐ฌ๐ข๐ง๐ž๐ฌ๐ฌ-๐‘๐ž๐ฅ๐š๐ญ๐ž๐ ๐Œ๐ข๐ฅ๐ž๐ฌ: 8,323

By the way, the IRS has approved $0.65 per mile as deduction for business miles in 2023. So, in 2023, you will be able to deduct $5,409.95 (8,323 * $0.65) as car expenses using the mileage record above. In addition to mileage, you can also deduct parking and toll costs that are business related.

Got it?

๐‡๐š๐ฉ๐ฉ๐ฒ ๐“๐ก๐š๐ง๐ค๐ฌ๐ ๐ข๐ฏ๐ข๐ง๐ To all our clients, current and prospective, we wish you a happy Thanksgiving celebration. We thank yo...
11/23/2023

๐‡๐š๐ฉ๐ฉ๐ฒ ๐“๐ก๐š๐ง๐ค๐ฌ๐ ๐ข๐ฏ๐ข๐ง๐ 

To all our clients, current and prospective, we wish you a happy Thanksgiving celebration.

We thank you for your continued business and trust in our brand. Your patronage has kept our doors open. We A.P.P.R.E.C.I.A.T.E you all on this Thanksgiving day.

May your business continue to grow beyond expectations. May your tax refund not delay. May you have many more tax deductions in the new year.

You are our MVPs.

๐“.๐‡.๐€.๐.๐Š ๐˜.๐Ž.๐”!

๐‚๐จ๐ซ๐ฉ๐จ๐ซ๐š๐ญ๐ž ๐“๐ซ๐š๐ง๐ฌ๐ฉ๐š๐ซ๐ž๐ง๐œ๐ฒ ๐€๐œ๐ญEffective January 1, 2024, all newly registered businesses (LLCs and Corporations) in the Unit...
11/09/2023

๐‚๐จ๐ซ๐ฉ๐จ๐ซ๐š๐ญ๐ž ๐“๐ซ๐š๐ง๐ฌ๐ฉ๐š๐ซ๐ž๐ง๐œ๐ฒ ๐€๐œ๐ญ

Effective January 1, 2024, all newly registered businesses (LLCs and Corporations) in the United States will have 30 days to report certain Personal Identifying Information (PII) about their owners to Financial Crimes Enforcement Network (๐…๐ˆ๐๐‚๐„๐), a sister agency of the IRS.

Failure to file the ๐๐ž๐ง๐ž๐Ÿ๐ข๐œ๐ข๐š๐ฅ ๐Ž๐ฐ๐ง๐ž๐ซ ๐ˆ๐ง๐Ÿ๐จ๐ซ๐ฆ๐š๐ญ๐ข๐จ๐ง report to (๐…๐ˆ๐๐‚๐„๐) by the deadline will attract a $$500 daily fine for every day the violation continues. This penalty can add up significantly over even a short period of time. Beware, FINCEN's sanctions are tougher than the IRS'.

Owners of registered businesses established prior to January 1, 2024, will have until December 31st, 2024, to submit their reports.

No more anonymity (to the government) for business owners. The government wants to know who you truly are, where you live, and your nationality.

For more information, visit www.fincen.gov




$500dailyfine

๐Œ๐ˆ๐‚๐‘๐Ž๐’๐Ž๐…๐“ ๐ฏ๐ฌ ๐ˆ๐‘๐’After a lengthy audit, "the IRS says Microsoft owes the U.S. Treasury $28.9 billion in back taxes, plus ...
10/13/2023

๐Œ๐ˆ๐‚๐‘๐Ž๐’๐Ž๐…๐“ ๐ฏ๐ฌ ๐ˆ๐‘๐’

After a lengthy audit, "the IRS says Microsoft owes the U.S. Treasury $28.9 billion in back taxes, plus penalties and interest."

Microsoft disagrees, plans to appeal IRS request for nearly $29 billion in back taxes.

We are watching ๐Ÿ‘€

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Tax Preparation & Representation Services

At KWP TAX LLC, we pride ourselves in preparing accurate tax returns for individuals and small businesses. We also represent clients to the IRS and other local tax authorities on tax matters. Let us know if we can help with your tax needs.