Income Taxes - TNT Accounting Services, LLC

The Benefits of Estimated Tax Payments for Small Business Owners

Running a small business comes with its own set of challenges, and one of the most important aspects to consider is managing your taxes effectively. As a small business owner, you may have heard about estimated tax payments, and you might wonder if they are worth the...

Tips For Tax Reduction For Businesses

Accounting for Small Business, Income Taxes, Tax Problems

We’re always looking for ways to reduce the amount of tax we pay. Businesses were hit so hard during the COVID-19 pandemic, and many had to pivot and make changes that wouldn’t have initially been on the horizon for them. You likely wear many hats, and the last thing...

New 1099 Form Rules

Accounting for Small Business, Income Taxes, Tax Problems, Uncategorized

It’s important to keep up to date with new tax rules when they are brought in by the IRS. One of these is the 1099-MISC form. Traditionally this has been used to report contractor income. But now businesses will have to use the 1099-NEC form (it is short for...

Tax Planning Is a Wise Investment

Accounting for Small Business, Income Taxes, Tax Problems

Taxes are such a normal part of life that at some point you may overlook them until it’s time to file your return. That’s particularly true this year with the Covid-19 pandemic still affecting many of us and it may not be high on our priority list. During this busy...

Prepare Your Tax Return BEFORE the Tax Deadline

Accounting for Small Business, Income Taxes, Tax Problems, Uncategorized

We’re only a couple of months away from the tax deadline and now is the perfect time to start getting all your paperwork organized so you have everything in order when it comes to getting your taxes done. The Internal Revenue Service (IRS) reports that more than 80...

TNT Accounting Services, LLC Newsletter

Tax Shifting Ideas to Reduce Your Bill to Uncle Sam- Is there a taxable income reduction idea you can use?
Because our tax system is progressive, the next dollar you earn could be taxed at a much higher rate. By shifting taxable income levels from one year to the next, you could potentially pay a lower tax amount in both. Here are six great ideas.
Avoid Name Mismatch Audits
If you recently changed your name due to marriage or divorce, do not get caught in the nightmare of a rejected or changed tax return by the IRS.