It was announced that Tax Day, normally April 15, will now be postponed to July 15 due to the COVID-19 pandemic. Treasury Secretary Steven Mnuchin confirmed the change of deadline with President Trump's order. "All taxpayers and businesses will have this additional time to file and make payments without interest or penalties,” stated Mnuchin in a tweet. The additional … [Read more...]
Florida House of Representatives Passes $89.9 Billion Budget
The Florida House of Representatives passed an $89.9 billion budget on Thursday, April 4, that is scheduled to start in July. The budget would avoid raising taxes and is expected to reduce waste and cut spending. As such, Florida was able to maintain its ranking as No. 1 in the nation for fiscal health, according to a press release from House Majority Leader Dane Eagle. … [Read more...]
Nonahood Tax Tips for the Tax Return Do-It-Yourselfers
Do you self-prepare your tax return? If so, don’t make these mistakes. This is our top seven list of tax return errors we see by those who DIY their tax returns. Number transposition and spelling errors. This includes income and deduction amount, Social Security numbers, addresses and ZIP codes. Unreported 1099 income. This can be for self-employment income … [Read more...]
Top 7 List for Tax Time
As covered in the Publisher’s Desk, the month of March holds a distinct identity for a number of reasons and for a variety of people. One group of detail-oriented individuals were left out, however, and those folks are accountants. Probably not too surprising to the practical math whizzes of the business world that they would be forgotten, however still a significant misstep, … [Read more...]