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Tax Deadline Tuesday April 18, 2023
Typically, the deadline to file taxes is April 15, although it’s been extended to May and beyond in recent years because of the coronavirus pandemic. Since the 15th falls on Saturday, the deadline automatically extends to Monday, but…. This year, it’s on April 18, 2023, to accommodate the holiday of Emancipation Day on April 17, which…
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Cook Welcomes Brett Carpenter
We are pleased to announce an addition to our Tax Department. Brett Carpenter comes to us from Corporate America Credit Union in Irondale where he was Director of Enterprise Risk Management. Brett holds certifications in: NAFCU Certified Risk Manager (NCRM); Bank Secrecy Act Compliance Specialist (BSACS); Credit Union Compliance Expert (CUCE); Credit Union Enterprise Risk…
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IRS announces delay for implementation of $600 reporting threshold
…for third-party payment platforms’ Forms 1099-K As a result of this delay, third-party settlement organizations will not be required to report tax year 2022 transactions on a Form 1099-K to the IRS or the payee for the lower, $600 threshold amount enacted as part of the American Rescue Plan of 2021. As part of this,…
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Tax Credits and Deductions
Here are a few facts about credits and deductions… A few things to know about deductions: Things to know about tax credits:
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Interest Rates Increase
Interest rates increase for the first quarter of 2023. The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning Jan. 1, 2023. For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily, up from 6% for the quarter that began on October 1. Here…
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Our Busy Season is Coming
Our Office will be Closed December 19th until January 2nd. During the last two weeks of the year (Holidays) our office is closed in order to update all of our systems and prepare for Tax Season. During this time, we upgrade all of our computer network, servers and telephone system. Once the calendar rolls over,…
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Business Structures
When beginning a business, you must decide what form of business entity to establish. Your form of business determines which income tax return form you have to file. The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation. A Limited Liability Company (LLC) is a business structure allowed by state…
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Cyber Monday 2022
Cyber Monday is a marketing term for e-commerce transactions on the Monday after Thanksgiving in the United States. It was created by retailers to encourage people to shop online. The term was coined by Ellen Davis of the National Retail Federation and Scott Silverman. The term made its debut on November 28, 2005. Cyber Monday…
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Recent Updates to Our News Service
Improvements to the News Section of our Website are Paying Dividends. The article you are reading was created, published and hosted on our own webserver right here in Arab, Alabama. Running your own webservers is not for the faint of heart, but it’s something I’ve been doing since 1994. So much has changed over the…
