Pearson and Cmerek, PC

A quick note about the April 15, 2022 tax deadline: The official IRS deadline is April 18, 2022, due to a holiday in Washington DC on...

What is it? Filing an extension moves the due date of your return from April 15 to October 15. Extensions are automatically granted by...

Congress and their infinite wisdom have left taxpayers with a different set of meals & entertainment rules for pre-2018, 2018-2020,...

The Most Serious Problems Encountered by Taxpayers in 2021 Were Exacerbated by the COVID-19 Pandemic, But They Resulted From Longstanding...

A sale + reinvestment does not qualify You need to exchange one property for another property. This is generally done through a...

IRS EIN Letter/ Form SS-4 Texas Webfile Letter Texas Filing Evidence Sample Operating Agreement

Why does this matter? IRC §183 says that activities not engaged in for-profit receive less beneficial tax treatment than a business with...

Stolen from the Great Peter J Reilly, CPA 1) It Is What It Is. Deal With It. The tax code is illogical. 2) Sometimes It's Better To Just...

CARES Act CARES Act relief, you qualify for a coronavirus-related distribution if you, your spouse, or your dependent is diagnosed with...

One of the most challenging aspects of owning a CPA firm is hiring from a historically tight and competitive labor market. It creates a...

From July - December, the IRS is sending taxpayers an advance of their 2021 Child Tax Credit in the form of check or direct deposit What...

1. Cannot use method if a “dealer" ***A dealer is someone in the business of buy and selling something, so a house-flipper can’t do...

Paid sick and family leave is available to self-employed individuals. You receive sick pay from the government in the form of a reduced...

There has been a lot going on in the tax world! The IRS has extended the 2020 filing deadline for all taxpayers to May 17, 2021, partly...

There has been several major pieces of tax legislation in the last 13 months: Tax Legislation Of The Last 12 Months Families First...

Extended Deadlines Personal Returns: 5/17/2021 HSA & IRA Contributions: 5/17/2021 Texas Franchise Tax: 6/15/2021 Unaffected Deadlines...

Creating an IRS account to view information (such as stimulus checks) only takes a few minutes: You will need: Name & Personal...