TaxesbyElle

Tax Pros 360
New York

Tax Preparation and small business services

02/16/2023

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02/16/2023

There may be some tax implications for you!!

If you drew any money out of the HSA to pay for medical expenses you will receive a 1099-SA. You must give this form to your tax preparer so that you are not on the hook for taxes and penalties on that distributed amount.

If you made separate contributions to the HSA, you will receive Form 5498-SA. This is purely an informational form that the IRS already has. They use this form to make sure that you don’t deduct more than you actually contributed.

The more you know 😏

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02/08/2023

Because Taxesbyelle will help you get ALL those deductions you qualify for.

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02/03/2023

🗣TAX AVOIDANCE TIP!!!

Do you expect an increase in income this year?
Is there a possibility you may owe taxes?

Here’s tip, MAX OUT THAT 401k!!

For 2023, the maximum contribution limit is $22,500, up from $20,500 in 2022! This is a great “tax shelter” for individuals, and at the same time, you are making sure your future is financially secured.

If you can afford to do it, please max out those 401k’s and if you can’t max it out, please contribute something. Your 75 year old self will thank you.

01/30/2023

Previously, this requirement was announced to go into affect for the 2022 tax year (2023 tax season)

However, if you received more than $600 in Zelle, Cashapp Venmo etc. this year, worry NOT!! You are off the hook.

Because it was poorly planned and there were a lot of concerns around the confusion it would cause for taxpayers, the IRS decided to delay the implementation to allow for a transitionary period.

For now there’s no telling exactly when it would be implemented, but in the meantime continue to be diligent about appropriately recording your income when received via 3rd party settlement organizations.

01/30/2023

Know the difference.

Book TaxesbyElle so you understand what works best for your individual and business needs.

01/25/2023

Let’s have a tax consultation today!!!

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01/24/2023

These are just some of the reasons.

2022 will be known as the “year of the great reset", because a lot of the tax benefits from 2020 & 2021 has expired and will revert to how things were pre-pandemic.

Be mindful of this if you end up in an undesirable tax outcome this tax season.

01/24/2023

Here’s a starting checklist for both individuals and businesses/ freelancers (swipe) to get started on filing their taxes this year.

Note: Lists may vary based on complexity of your returns.

Let a tax professional help you. Book TaxesbyElle today!!

01/20/2023

Starting Monday, IRS will be accepting e-filed returns and I'm here to ease all of your concerns!

Servicing individuals and clients in all 50 states

Book TaxesbyElle today for all your tax preparation needs!

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