Primary Services

  • Tax Preparation & Problem Resolution
  • Bookeeping
  • Payroll

Individual Services

  • Bill Pay for Seniors
  • Social Security/Medicare Enrollment
  • Notary Services
  • Financial Consulting

Business Services

  • CFO Services/Bill Pay
  • Accounting
  • Coorporation/LLC Setup

Back Taxes

by | November 26, 2020 | Tallahassee Tax Service | 0 Comments

IRS is hitting pause on sending out many balance-due notices, in response to criticism from law makers. IRS will stop mailing out second notices to taxpayers with outstanding tax debt. It is taking this step to avoid confusion for taxpayers who responded IRS's first...
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Social Security

by | November 24, 2020 | Tallahassee Tax Service | 0 Comments

Social Security Recipients get a 1.3% increase in their benefits in 2021. The earnings test limits head up. Individuals who turn 66 next year will not lose any benefits if they earn $50,520 or less before they reach that age. Individuals who are 62 through 65 by the...
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IRAs & Plans

by | November 19, 2020 | Tallahassee Tax Service | 0 Comments

Good news for owners of traditional IRAs who turn age 27 this year. You needn't take your first required minimum distribution. The CARES Act waives RMDs for 2020 from traditional IRAs, 401 (k)s and many other retirement plans. If you turn 72 in 2020, your first RMD,...
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Tax Forms

by | November 19, 2020 | Tallahassee Tax Service | 0 Comments

The 2020 form 1040 will look a little different than the 2019 version, based on a draft released by the IRS. The return will have two new line items, one for the above-the-line deduction for cash charitable contributions of $300 or less by non itemizers. The other...
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Stimulus Checks

by | November 17, 2020 | Tallahassee Tax Service | 0 Comments

Good news for some individuals who haven't received their stimulus checks...Or were paid to little. IRS will be able to correct amounts in certain cases. It is creating processes to help some people who were due an economic impact payment but never got it or received...
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Business Taxes

by | November 12, 2020 | Northside Tax Service, TallyTaxMan | 0 Comments

Businesses get final rules on meal and entertainment expense write-offs. The regulations closely mimic proposed guidance issued earlier this year. Although entertainment expenses are not deductible, IRS reiterated that food and drinks usually aren't entertainment....
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Grandchildren working this summer?

by | September 10, 2020 | Tallahassee Tax Service | 0 Comments

Here is an idea to help a child or grandchild working this summer. You can contribute to a Roth IRA for him or her... up to $6,000 for 2020, but not more than the child is earning. If you decide to go down this path, you have until April 15, 2021, to make the...
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