United Tax Service

🎉 It's year-end! Time to sort those receipts and donate to charity to boost those tax deductions. At United Tax Service, we're committed to helping you keep more of what you earn. Start prepping NOW for a financially savvy new year. And feel free to contact us for an end-of-year review to look for adjustments that may be beneficial. Remember, you have until APRIL 15 to make contributions to your retirement accounts totaling up to $7,000 per person to credit against your 2024 income. Call us for more more information. 🌟

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Heads up, entrepreneurs! 📢 Every entity must file a BOI report. Missing this crucial step can lead to hefty fines and penalties—Yikes! At United Tax Service, we specialize in helping you navigate these intricate requirements so you stay compliant and worry-free. Don't delay—make sure your filings are up-to-date!

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January, 2024 is just around the corner, time to get ready for income tax preparation! Whether you do your own or hire a professional, here is a Checklist to help you

www.unitedtaxservice.us

The Fresh Start program has been around for some time. You can apply but one of the first qualifications is that you have to be current on all of your filing. This is so that we know how much you truly owe before we know how much to ask for forgiveness. Usually you can file what is called an Offer in Compromise but you have to owe at least $10,000 total before it's even worth it to request 50% off because of the cost of applying and following through. So step one is get your tax filings caught up and then we'll look and see what your actual situation is. Meanwhile, I hope you are following standard advice of putting aside 10-15% of your income as it comes in, similar to the way an employer takes out around 30% to cover social security, unemployment insurance, etc. 1099 contracting is definitely the better deal because you can deduct the cost of earning your income before paying income taxes. For more information, talk to a tax professional but don't go to a tax preparation chain office because they are not trained in all the legitimate deductions you can take.

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