Ascend Accounting & Business Solutions

Ascend Accounting & Business Solutions Ascend Accounting & Business Solutions, CPAs providing accounting, tax & consulting services to small/medium sized entities, their owners & individuals.
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Check out this   reminder from the   about taking advice from social media. I cannot tell you the number of times I hear...
04/08/2024

Check out this reminder from the about taking advice from social media. I cannot tell you the number of times I hear about a friend telling a taxpayer they can do "X" for their business or personal taxes or the number of IG or TikTok clips I receive that are full of misleading information. There is only so much info to convey in these clips & it is always the good stuff to get your attention. ALWAYS consult with your tax advisor to learn more of how your personal or business tax situation could be positively or negatively impacted. Beware of scams! Just as we are getting better (or should be) at identifying & blocking scams, they too are honing their craft to scam us!

IR-2024-98, April 8, 2024 — On day eight of the Dirty Dozen tax scam series, the Internal Revenue Service today warned about bad tax information on social media that can lure honest taxpayers with bad advice, potentially leading to identity theft and tax problems.

02/29/2024

Jamie Johnson Brown just received a voice mail from a gentleman with a sexy & soothing accent that tried to lull me into believing that my "overdue tax debt has been sent to collections" that I needed to call them back. The number I received the call from was from WI, 19208579169. I vaguely remember getting a text from the same number yesterday to pay a bill; deleted it (same pronunciation as In Living Color Men on Films). Then, cause I need the mid-day comic relief.....I LAUGHED OUT LOUD! NOT TODAY!

FOLKS DO NOT FALL PREY TO THESE SCAMS! Yes you may owe the IRS $1 to $1Billion or haven't even filed in the past X years & think they have finally found you; yes the call may catch you off guard & scare you into thinking you need to act or react....STOP! PAUSE! DISREGARD! I REPEAT PLEASE DO NOT FALL FOR THIS STUFF! Tell your elders, your kids, your family, your friends, your community to not fall for this foolishness block the number & keep it moving. As much as I wish these people would use their powers for good, they do not; thus, we must have our armor on at all times! But if you get that IRS notice in the mail, govern yourselves accordingly and promptly.

07/26/2023
05/03/2023

Happy ! Thank you for your support!

11/26/2022

need and thank you for your support throughout the year!

11/30/2021

Today's kicks off the season for 2021!

You can give in the form of...
* cash (cash, check credit/debit card --- ensure the credit/debit card processes on or before 12/31/2021 to count). For 2021, the law now allows you to take up to a $600 deduction against income (if you're not itemizing on Schedule A) for cash contributions to qualified charitable organizations (generally 501c3)

* make a qualified charitable distribution directly from your IRA (excluding SEP & SIMPLE IRA) AND if you are 70 1/2 or older --- bonus here is a distribution from your IRA may also count toward your required minimum distribution for 2021

* noncash such as household items, etc. --- donations valued $250 or more (per item or group of items) must have a receipt AND description of items received; if the value is $500 or more (per item or group of items), you must attach Form 8283 for each donation more than $500 (ex: Org A gets $550 & org B gets $600, need two Forms 8283); if the value is $5000 or more (per item or group) you must have an appraisal.

Not sure if the charitable organization you have in mind is qualified, try using the Tax Exempt Organization Search on IRS.gov at https://www.irs.gov/charities-non-profits/tax-exempt-organization-search .

While you're there, grab your latest paystub(s) for you (and spouse) and walk through the 5 question Tax Withholding Calculator at https://apps.irs.gov/app/tax-withholding-estimator to see how you are tracking for filing on 4/15/2022. There's at least 2 more paychecks and an estimated tax payment due on 1/15/2022 available to correct what may not be favorable.

Happy & !

Currently, there seems to be some confusion about the tax deadline. It is our position that it is in your best interest ...
03/20/2020

Currently, there seems to be some confusion about the tax deadline. It is our position that it is in your best interest to file your return or the extension by 4/15. Do not hold out till 7/15. Please let us know if you we can be of service. Practice safety and well being at all times not just in crisis.

https://twitter.com/IRSnews/status/1240669734028353538?s=19

“In response to , Treasury and allow most tax payments to be delayed until July 15. You need to file a return or request a filing extension by April 15. No other filing is necessary for payment extensions. See free options at: https://t.co/hEEWmgHA9V”

03/17/2020

The federal tax filing deadline and tax payments under $1 million has been extended for 90 days. Before you take "advantage" of the 90 day filing reprieve let's be sure that your state has also offered a filing extension. Currently, DC & MD have 4/15 deadline while VA tax deadline is 5/1.

08/17/2019

As the school year begins, if you're an eligible educator (K-12 teacher, instructor, counselor, principal or aide for at least 900 hours a school year), you can deduct up to $250 of unreimbursed qualified trade/business expenses such as professional development, books, supplies, etc. Keep your receipts!

Did you owe more in taxes in 2018 than expected? Maybe you received a significantly less refund. Get in front of unexpec...
06/11/2019

Did you owe more in taxes in 2018 than expected? Maybe you received a significantly less refund. Get in front of unexpected tax situations today with the withholding calculator at https://www.irs.gov/individuals/irs-withholding-calculator. Let's discuss your results and strategize to minimize potential tax liabilities before it's too late!

Check your tax withholding with the IRS Withholding Calculator, a tool that helps ensure you have the right amount of tax withheld from your paycheck.

Tax scams happen year round! The 2 new ones involve SSN issue & a fake tax agency like Bureau of Tax enforcement. Visit ...
06/07/2019

Tax scams happen year round! The 2 new ones involve SSN issue & a fake tax agency like Bureau of Tax enforcement. Visit for more info & sign up for alerts. Protect yourself & your personal information! https://t.co/uGaisWMGQv

The IRS urges taxpayers not to fall victim to tax scams. If it sounds too good to be true, it probably is.

There's always room for improvement! Here's some   to help you better manage your budget & reach your   goals.
02/11/2019

There's always room for improvement! Here's some to help you better manage your budget & reach your goals.

Members of Forbes Finance Council offer tips for learning about and getting control over your personal finances.

Honoring CPAs of color, especially Mary T. Washington, that paved the way. Thank you all!
02/08/2019

Honoring CPAs of color, especially Mary T. Washington, that paved the way. Thank you all!

In 1939, when virtually no firms would hire African-Americans or females, let alone an African-American female, she began her own firm in a basement on the South Side of Chicago where she opened doors for future generations of African-American ...

 ! Nothing says "out with the old & in with the new" like the new Form 1040! The TCJA changed many aspects for filing yo...
01/02/2019

! Nothing says "out with the old & in with the new" like the new Form 1040! The TCJA changed many aspects for filing your 2018 . Be ready! Be informed! https://t.co/C6QIlmMX8v

Information about Form 1040, U.S. Individual Income Tax Return, including recent updates, related forms and instructions on how to file. Form 1040 is used by citizens or residents of the United States to file an annual income tax return.

12/25/2018

Wishing you and yours the best of the holiday season and a prosperous new year!

11/11/2018

Happy Veterans Day! Thank you for your service!

Marketplace open enrollment starts this week; 11/1/18 - 12/15/18. Visit healthcare.gov to review 2019 plan options.
10/29/2018

Marketplace open enrollment starts this week; 11/1/18 - 12/15/18. Visit healthcare.gov to review 2019 plan options.

Official site of Affordable Care Act. Enroll now for 2019 coverage. See health coverage choices, ways to save today, how law affects you.

Do you want to know if you have unclaimed money/property, wages, life insurance, taxes, etc? Check the states you have l...
10/12/2018

Do you want to know if you have unclaimed money/property, wages, life insurance, taxes, etc? Check the states you have lived in at https://www.unclaimed.org/. Let us know if anything turns up in your favor!

Common forms of unclaimed property include savings and checking accounts, stocks, dividends, uncashed payroll checks, life insurance policies & premium refunds, utility security deposits, mineral royalties, and contents of safe deposit boxes...

Do you want to know if you have unclaimed money/property, wages, taxes, life insurance, etc? Check the states you have l...
10/12/2018

Do you want to know if you have unclaimed money/property, wages, taxes, life insurance, etc? Check the states you have lived in at https://www.unclaimed.org/. Happy Claiming! Let us know if anything turns up in your favor!

Find unclaimed funds held by the government that might be owed to you.

Small businesses need to plan for new tax law changes effective 1/1/18
10/10/2018

Small businesses need to plan for new tax law changes effective 1/1/18

IRS to highlight tax reform changes affecting small businesses; Small business owners, self-employed should plan now for new changes

Looking forward to this event!
09/18/2018

Looking forward to this event!

Did you know taxpayers have rights when interacting with the IRS? Know your taxpayer rights! https://www.irs.gov/taxpaye...
09/17/2018

Did you know taxpayers have rights when interacting with the IRS? Know your taxpayer rights! https://www.irs.gov/taxpayer-bill-of-rights

Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the IRS. Explore your rights and our obligations to protect them. The Right to Be InformedThe Right to Quality ServiceThe Right to Pay No More than the Correct Amount of TaxThe Right to Challenge the IR...

09/14/2018

Third quarter estimated tax payment due Sept. 17

Address

21155 Whitfield Place Suite 201
Sterling, VA
20165

Telephone

(571) 236-4225

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