The Tax Bakery

01/18/2021

You read that right. The IRS has pushed back the start of to February 12th.

Does that mean we should put off getting ready to file?

Not at all!

Even though the IRS isn’t accepting returns until next month, NOW is perfect time to get your ducks (or cupcakes) in a row. Let’s connect and get you ready to file on Day 1. 🧁

01/16/2021

UPDATE: The IRS has pushed back the start of tax season until February 12 due to COVID-19. That means they will not begin accepting e-filed returns, or processing any tax filings until sometime after that date.

Please note that many IRS services are currently unavailable, and you may not be able to reach a representative regarding prior returns or stimulus questions.

If you need assistance with your taxes, contact us and we can get you in track.

Stay safe out there!

The IRS will begin receiving 2020 income tax returns on Feb. 12.

01/10/2021

Hey there! We're the Tax Bakery. Our goal is to make filing your taxes sweet.

When you work with our team, we'll do the heavy lifting. Connect with us, and we'll make tax season simple. Here's how we make your filing stress-free:

🧁 You for a tax consult.
🧁 We learn about your current tax situation.
🧁 We evaluate what forms and schedules you need, and send you an engagement letter.
🧁 You sit back, relax, and we'll do the rest.
🧁 We'll review your return with you before filing, and send you a secure copy for your records.

How's your team treating you? If you need tax help, reach out. We'll handle the rest.

01/02/2021

*Savings ALERT* Did you have your baby on December 31st, 2020? Congratulations! Ally Bank is offering new babies (born 12/31/20 only) $250 to start their savings journey.

Getting the bonus is pretty simple - apart from the labor & delivery part, of course. The child must be a US citizen/res. alien. Ally requires the mother's maiden name, and you'll need to provide the SSN between 1/15/21 and 7/31/21. You find out more about the program here: https://www.ally.com/go/bank/nye-2020-babies.

Don't worry; you won't have to pay taxes on the funds.

01/01/2021

Happy New Year to all!!!!!! We hope 2021 brings you joy, laughter, and a new sense of wonder (when the world reopens, of course).

In the meantime, here's a little ditty we picked up from Twitter. Hope you like it!

Stimmy, stimmy, stimmy, can't you see?
Hit my account & hypnotize me!
And I just hate McConnell's ways...
Forget $600; send the $2k! 😆

All the best to you and yours...
♥ The Tax Bakery

12/30/2020

It's official! The new COVID relief bill has been passed into law. Here are some of the highlights:

- $600 direct payments to taxpayers with AGI under $75,000 (the Senate is currently voting on an increase to $2,000)
- An additional $600 per child
- $300 in extended unemployment benefits for Americans currently out of work due to the pandemic
- Additional small business grants through the Payroll Protection Plan (PPP) and EIDL
- Lookback consideration that may increase the Earned Income Credit for lower-income taxpayers
- Extended student loan forbearance until April 1st, 2021
- Extension of the eviction moratorium and CARES Act rental assistance until January 31st, 2021
- Freelance/Contractor paid leave
- Tax extenders that will lead to medical, educational expense, and mortgage relief for several years to come

We'll keep you posted with additional information as updates become available.

Need help understanding the impact of the COVID relief on your taxes? Book a consult with us, and we'll review your situation.

Get an update on the latest COVID-19 legislative action regarding stimulus payments and more.

12/28/2020

Happy Kwanzaa to our friends and neighbors! How are you celebrating with your family?

12/27/2020

Are you stressed out about your business taxes? Whether you're a freelancer running a sole proprietorship, or shareholder in a budding S-corp, tax planning is an essential part of your business.

Proper planning and documentation can save you thousands in taxes each year. Not sure where to start? Let's chat so you can take taxes off your to-do list. https://taxbakery.com/book-appt

12/27/2020

2020 has been a beast. Your taxes shouldn't be. We'll make filing your return simple and easy. Book a consult today, and we'll handle the rest. https://taxbakery.com/book-appt

12/25/2020

Happy holidays to our friends and clients! We wish you a safe and happy season.

We'll return to work with clients on Jan. 4th, 2021.

12/25/2020

Take taxes off your to-do list.