Yearly Tax Update; 2022

Thanks for everyone who’s visited this blog and worked with us in 2021. Here are a few updates we wish to share with everyone as it pertains to our business, your business and taxes in general for 2022.

Normally we don’t have an “our business” spot in our yearly update, but we have exciting news we wish to share. We’ve moved to a new location, though we’re still in the area. Our new address is 403 East Taft Road, North Syracuse. If you’re familiar with the area, we’re across the street from the main post office. Lots of parking in the rear, totally dedicated to use; we’re happy about that. We’re still working on the logo on our main page, but our new address has been updated at the bottom of the page.

Moving on, earned income credit and American opportunity credit will remain the same. If you didn’t opt out of receiving the advanced Child Tax Credit in July and received direct deposits up to $300 each month, you’ll need to have those amounts for your tax return, as it’ll impact your Child tax credits.

If you received a stimulus check in 2021, we’ll need to know the amount to include with your taxes. Without that amount, if you believe you have a refund coming you could have that held up, so make sure you check all of your bank accounts, old and new, in case you don’t remember.

The Charitable Donation Credit is still available. The maximum credit amount is $600 for married filing jointly; for everyone else it’s $300. You still don’t have to itemize this to receive the credit. We’ll also be asking if anyone has either Bitcoin or Cryptocurrency accounts this years, including if you sold any of it.

If you were collecting unemployment this year, you need to know it’s taxable, whether it’s from the state or federal government. If you don’t receive it by the end of January, you’ll need to go online and print out your 1099 form.

Like last year, we’re implementing social distancing rules during the tax season. Many of the services we provide can be performed without your having to be in the office with us if you feel that’s preferable. You can mail your information to us, scan and email it, or drop off your records and receipts. If you’re feeling ill in any way, please reschedule your appointment for another time.

Finally, remember that if your business is a corporation, your taxes are due by March 15th, which means we request you send us your information by the middle of February at the latest.

Thanks again to everyone; enjoy the holiday season and best wishes for 2022!
 

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