After your tax return is prepared, a member of the Abacus team will reach out to discuss the results. Expect an encrypted email with a link for reviewing and signing your return. Once you’ve completed this step, we’ll file your return electronically. While the e-signature process is usually straightforward, you may have questions. We’ll go through [...]
Every year, Abacus CPAs serves people that are in retirement, and every year, some still have to pay taxes on their Social Security benefits. Not everyone pays taxes on Social Security, and the amount of tax you will be assessed on your benefits is dependent upon other income you received throughout the year. Only those that [...]
The Abacus App allows you to follow your tax return from start-to-finish while its with Abacus Professionals. You can upload documents, track tax project progress, get real-time updates and contact Abacus Team members. Download & Sign In To access your Abacus App, download the app using your camera to scan in the QR code below. You [...]
Hi Abe! I own a trucking business and taxes are the last thing I want to worry about each year. It is tough to find the time to get my documents together while ensuring I haven't missed anything, and on top of that, I've got my business to run. Is filing taxes really that important? What [...]
Are you considering upgrading your truck? What about remodeling your home, or even buying a new home? These are big financial decisions that will often require a loan. As a self-employed individual, the process of obtaining a loan can involve more steps. Now that you’re self-employed, you do not have pay stubs or W-2s that [...]
Receiving a letter from the Internal Revenue Service (IRS) can be intimidating and can lead to many questions. The most common tax notices we receive from clients are regarding tax return information submitted on a return that does not match the IRS records, which is indicated on tax notice number CP2000. There are several reasons [...]
Who is required to file? Anyone who registers a heavy highway motor vehicle in their name with a taxable gross weight of 55,000 pounds or more are required to file a Form 2290 and pay the tax. When do I file? The filing season for Form 2290 filers is July 1, 2022 through June 30, [...]
Growing your business and stewarding the environment both require good resource management. In both areas you need to grow your resources, reduce waste, and make wise investments. Drive for your bottom line Following best fuel efficiency practices will save you money on fuel and the lower speed will make your tires last longer. This will [...]
What You Need to Know About Dependents: Child Tax Credit If you have a qualifying dependent that qualifies for child tax credit on your 2021 income tax return, you will need to reconcile any advanced child tax credit payments you received. Starting in July of 2021 taxpayer with qualifying dependents were generally eligible to claim one-half [...]
It's a new year and a new you! You've likely set personal resolutions, but have you set resolutions for your business? Your Business New Year Resolution Our challenge to you is to set a resolution to pay your quarterly estimate payments. A resolution that you can easily accomplish on the federal estimated tax due dates of [...]
