01/04/2023
When to Expect 2023 IRS Income Tax Refunds – Estimated Date Chart for Tax Refunds
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When to Expect 2023 IRS Income Tax Refunds – Estimated Date Chart for Tax Refunds
This chart shows an estimated timeline for when a taxpayer is likely to receive their refund, based on information we have now, and using projections based on previous years- and depending on when a person files their return.
12/30/2022
Federal Income Tax Deadlines in 2023
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Federal Income Tax Deadlines in 2023
Don’t miss any federal income tax deadlines in 2023. Learn the important due dates for filing your 2022 tax return, and what you need to do if you can’t pay on time.
12/14/2022
Get Ready now to file your 2022 federal income tax return
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Get Ready now to file your 2022 federal income tax return | Internal Revenue Service
IR-2022-203, November 22, 2022 — The Internal Revenue Service today encouraged taxpayers to take simple steps before the end of the year to make filing their 2022 federal tax return easier. With a little advance preparation, a preview of tax changes and convenient online tools, taxpayers can appro...
11/23/2022
Understanding Tax Brackets, With Examples and Their Pros and Cons
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Understanding Tax Brackets, With Examples and Their Pros and Cons
A tax bracket is a range of incomes subject to a certain income tax rate.
11/16/2022
IRS warns taxpayers to stay vigilant as texting scams surge
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IRS warns taxpayers to stay vigilant as texting scams surge | Internal Revenue Service
Tax Tip 2022-155, October 11, 2022 — October is Cybersecurity Awareness Month. The IRS and the Security Summit partners warn everyone to be on the lookout for scams and schemes that could put sensitive tax data at risk, especially IRS-themed texting scams aimed at stealing personal and financial i...
11/09/2022
How To Process Payroll and Payroll Taxes
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How To Process Payroll and Payroll Taxes
Processing payroll begins with preparing paychecks and ends with paying payroll taxes. This article takes you step-by-step through the process.
11/02/2022
Taxpayer Bill of Rights: America's taxpayers are entitled to a fair and just tax system
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Taxpayer Bill of Rights: America’s taxpayers are entitled to a fair and just tax system | Internal Revenue Service
Tax Tip 2022-154, October 6, 2022 — Tax fairness means the tax system is equitable to all citizens. This is not just a concept - it is the law. The right to a fair and just tax system is one of 10 rights in the Taxpayer Bill of Rights, which clearly outline the fundamental rights of every taxpayer...
09/14/2022
5 Tax Breaks Overlooked by Small Business Owners
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5 Tax Breaks for Small Businesses
If you're a small business owner, here are five tax deductions that may save you money when taxes are due.
09/07/2022
Small business owner’s guide to accrued payroll
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Small business owner’s guide to accrued payroll - Article
Accrued payroll is the money that a business owes its employees for work performed during a given pay period but has not yet paid out. It is one of the ways that a business can track its expenses over time to help plan ahead, better understand its liabilities, and forecast financial planning into th...
08/31/2022
Will Moving Into a Higher Tax Bracket Give Me a Lower Net Income?
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Can Moving to a Higher Tax Bracket Cause Me to Have a Lower Net Income?
Making more money and moving into a higher marginal tax bracket will not lower your take-home or net pay.
08/24/2022
IRS announces interest rate increases for the fourth quarter of 2022; 6% rate applies to most taxpayers starting Oct. 1
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IRS announces interest rate increases for the fourth quarter of 2022; 6% rate applies to most taxpayers starting Oct. 1 | Internal Revenue Service
IR-2022-150, August 15, 2022— The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning October 1, 2022.
06/29/2022
Taxpayers should check their federal withholding to decide if they need to give their employer a new W-4
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Taxpayers should check their federal withholding to decide if they need to give their employer a new W-4 | Internal Revenue Service
Tax Tip 2022-85, June 2, 2022 — The IRS encourages all taxpayers to review their federal withholding at least once a year to make sure they're not having too little or too much tax withheld.
06/22/2022
Business Activities Requiring Accounting Transactions
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Business Activities Requiring Accounting Transactions
Business Activities Requiring Accounting Transactions. Businesses provide products or services in exchange for money. The purpose of accounting is to record these financial exchanges or transactions. Simply put, accounting transactions are records kept of the money coming into and out of the busines...
06/15/2022
People can protect themselves from tax-related identity theft with an Identity Protection PIN
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People can protect themselves from tax-related identity theft with an Identity Protection PIN | Internal Revenue Service
Tax Tip 2022-84, June 1, 2022 — Identity Protection PINs stop identity thieves from filing fraudulent tax returns. When a taxpayer chooses to participate in this program, the IRS assigns them a six-digit number which the taxpayer uses to prove their identity when they file their tax return.
06/10/2022
What Does Bookkeeping Entail?
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What Does Bookkeeping Entail?
What Does Bookkeeping Entail?. Bookkeeping is the recording of financial transactions. The purpose of bookkeeping is to create a record of financial transactions that can be summarized for various uses. Bookkeeping systems range from the most basic, such as the check register used to record checks a...
05/11/2022
Why Is Reconciliation Important in Accounting?
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Why Is Reconciliation Important in Accounting?
Learn why it is important to reconcile your bank statements. Discover how to protect your business and personal accounts from errors and fraud.
05/04/2022
12 Common Tax Myths, Busted
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12 Common Tax Myths, Busted
Tax season is here again, but the recent changes—even the temporary ones—to tax law may have you feeling confused. From the advanced Child Tax Credit payments to cryptocurrency, it’s natural to ask everyone else in your life how they’re handling money received and money owed on this year’s...
04/27/2022
Types of Bookkeeping
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Types of Bookkeeping
Types of Bookkeeping. Traditional bookkeeping was performed using one of two systems. Accountants and bookkeepers used the systems to manually calculate company books and present financial statements in accordance with federal regulations. The two main systems still exist in today’s digital era, b...
04/20/2022
Why it may take longer than 21 days for some taxpayers to receive their federal refund
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Why it may take longer than 21 days for some taxpayers to receive their federal refund | Internal Revenue Service
COVID Tax Tip 2022-54, April 7, 2022 — The IRS issues most refunds in fewer than 21 days for taxpayers who file electronically and choose direct deposit. However, some returns have errors or need more review and may take longer to process.
04/13/2022
Taxpayers should file their tax return on time to avoid costly interest and penalty fees
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Taxpayers should file their tax return on time to avoid costly interest and penalty fees | Internal Revenue Service
Tax Tip 2022-42, March 17, 2022 —Taxpayers should file their tax return by the deadline even if they cannot pay their full tax bill. Taxpayers who owe tax and don't file on time, may be charged a failure-to-file penalty.
04/06/2022
Things to Remember When Bookkeeping
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Things to Remember When Bookkeeping
Things to Remember When Bookkeeping. Many small-business owners start off by keeping their own books. It avoids the expense of hiring someone else to do it, and allows the business owner stay on top of the finances. While basic bookkeeping is not complicated, it must be accurate. Keep a few things i...
03/30/2022
Cash Flow - How It Works to Keep Your Business Afloat
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How Cash Flow Works to Keep Your Business Afloat
A guide to cash flow, how it comes in and out of a business and why is it important in a small business to manage it properly, especially at startup.
03/25/2022
The Three Cardinal Rules of Bookkeeping
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The Three Cardinal Rules of Bookkeeping
The Three Cardinal Rules of Bookkeeping. If you're considering a career as a bookkeeper, understand the primary responsibilities associated with this position. Managers and business owners hire bookkeepers to maintain company financial records. This career choice doesn't suit everyone, but if you fe...
03/16/2022
Your Complete Corporate Income Tax Guide, Including S Corps
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A Guide to Filing Corporate Income Taxes
This guide will take you through the top pieces of information to help you prepare for corporate taxes or amend or extend your corporate tax return.
03/09/2022
Taxpayers can start the 2022 tax-year off right by checking their withholding
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Taxpayers can start the 2022 tax-year off right by checking their withholding | Internal Revenue Service
Tax Tip 2022-27, February 17, 2022 — One way people can get the new tax year off to a good start is by checking their federal income tax withholding. They can do this using the Tax Withholding Estimator on IRS.gov.
03/02/2022
Benefits of Outsourced Bookkeepers
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Benefits of Outsourced Bookkeepers
Benefits of Outsourced Bookkeepers. Small-business owners who require bookkeeping services have two options. The standard solution involves hiring in-house staff to perform the work. Another option is hiring remote employees to work for your company. Outsourced bookkeepers can be beneficial, which s...
02/23/2022
Tips to help taxpayers reduce tax-time stress
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Tips to help taxpayers reduce tax-time stress | Internal Revenue Service
COVID Tax Tip 2022-19, February 3, 2022 — Each tax season comes with unique challenges and 2022 is no exception. The IRS wants taxpayers to get the information they need as quickly as possible.
02/18/2022
Announcing the new website
We are pleased to announce the launch of our new website. Visit us at https://www.sealecpa.com today!!
02/16/2022
Common tax return mistakes that can cost taxpayers
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Common tax return mistakes that can cost taxpayers | Internal Revenue Service
COVID Tax Tip 2022-11, January 20, 2022 — Tax laws are complicated but the most common tax return errors are surprising simple. Many mistakes can be avoided by filing electronically.