Extended tax return deadlines loom: October 15 for personal, September 15 for business. Avoid penalties by filing on time. Callison CPA can help with complex returns, deductions, and tax planning.

Social media offers financial tips, but beware of tax myths on TikTok! In this article, learn about common tax deduction myths like gambling losses or pet write-offs. We explain taxable income and deductions, and why fraudulently claiming business expenses is risky.

The April 15th tax deadline is important, but there are options if you miss it. File as soon as possible, pay what you can, and consider a payment plan if needed. Gather your documents, choose a filing method, and remember, even if you're late, taking action is key.

Tax law changes in 2024 could affect business deductions, tax rates, and retirement plan rules. Stay informed about expiring provisions, R&D credits, and even state tax updates. Consult a tax advisor to understand how these changes specifically impact your business and to plan your tax strategy accordingly.

Filing your taxes starts with pulling together all of your documents. Here are some tips to make sure you have everything you need before you sit down with your CPA to discuss your tax return.

The ERTC, a tax credit to help businesses retain employees during COVID, is no longer available for new claims but can still be claimed retroactively for wages paid in 2020 and 2021. The deadline to file amended tax returns to claim the credit is April 15, 2024 for 2020 wages and April 15, 2025 for 2021 wages.

Tax deductions lower your taxable income. Common ones include homeownership, charity, medical costs, and retirement contributions. Avoid mistakes like missing receipts, overestimating values, or miscategorizing expenses. Seek professional help for complex situations.