by Tyler Fates | Nov 12, 2021 | Financial Planning, Personal Financial Insights, Taxes
IRAs are Individual Retirement Arrangements. There are several types of IRAs with differing contribution limits and earnings thresholds. Funds for an IRA must come from employment earnings. More information about all IRAs and their regulations can be found on the IRS... 
by Team FBPCPA | Sep 24, 2021 | Business Insights, Business Planning, Personal Financial Insights, Taxes
Common Mistakes When Providing Information to Your Tax Preparer Missing information, incorrect information or partial information can lead to delayed tax filing and delayed refunds. Below is a list of the most common mistakes we see when individuals and... 
by Team FBPCPA | Sep 10, 2021 | Business Insights, Business Planning, Personal Financial Insights, Taxes
Cryptocurrency and Your Taxes 2021 has been the year of cryptocurrency, in terms of news as well as new holders. More businesses are accepting various coins for transactions, and this is expected to increase through the rest of 2021 and beyond as sites such as... 
by Team FBPCPA | Aug 23, 2021 | Business Insights, Business Planning, Taxes
Child Tax Credits Advances and Your 2021 Taxes The IRS began distributing advances on taxpayers’ Child Tax Credits on July 15, 2021, as part of the American Rescue Plan passed in March. Taxpayers have the option of opting out of the advance payments. If you have not... 
by Team FBPCPA | Aug 5, 2021 | Business Insights, Business Resources, Taxes
PPP—Now What? Now is a good time to clear up any lingering questions you may have regarding PPP loans. Forgiveness periods are ending and the window for new loans has closed. Below we have broken down some of the main points that you need to know about filing for... 
by Team FBPCPA | Jul 13, 2021 | Business Insights, Business Resources, Taxes
Guide to Schedule E The following is a guide to the IRS Schedule E. This is used to report supplemental or passive income* or loss from: Real Estate Rentals Royalties Partnerships and S Corporations Estates and Trusts REMIC Profit and Loss There are limits on losses...