Anderson & Company, PC

02/25/2022

Ways to Minimize Your Business Taxes

For your business to be successful it's important to keep up-to-date on all the different ways to minimize your taxes. Check out these tips~

02/24/2022

Here’s why when you turn age 50 you become eligible to contribute more money to 401(k) and IRA accounts, which qualifies you for a bigger tax deduction.
https://money.usnews.com/money/retirement/articles/2017-09-01/the-most-important-ages-for-retirement-planning-age-50

02/23/2022

In November, the IRS announced changes to retirement plans for 2022 allowing employees under the age of 50 to contribute up to $20,500 per year to their 401(k), an increase of $1,000 from 2021.
https://money.usnews.com/financial-advisors/articles/2022-401k-contribution-limits-what-advisors-should-know #:~:text=In%20November%2C%20the%20IRS%20announced,increase%20of%20%241%2C000%20from%202021.

02/22/2022

Treasury Department officials warned on Monday that this year's tax season will be a challenge with the IRS starting to process returns on January 24. That's largely due to the IRS' sizable backlog of returns from 2021.

The IRS already faces a huge backlog of unprocessed returns, creating challenges as the new tax season begins.

02/21/2022

If you did not receive the Economic Impact Payments issued in 2020 or 2021, you may be able to claim a Recovery Rebate Credit from by filing a tax return. Learn more at

Eligible individuals can claim the Recovery Rebate Credit on their Form 1040 or 1040-SR. These forms can also be used by people who are not normally required to file tax returns but are eligible for the credit.

02/18/2022

Frequently Asked Questions About Credit Cards

If you are considering signing up for a new credit card you probably have questions. Here are the top FAQs to help you decide. Read more!

02/17/2022

Your business may now enjoy a temporary 100 % deduction for expenses that are paid for food or beverages provided by a restaurant. has provided guidance available at:

IR-2021-79, April 8, 2021 — The Treasury Department and the Internal Revenue Service today issued Notice 2021-25 providing guidance under the Taxpayer Certainty and Disaster Relief Act of 2020.

02/16/2022

direct deposit is simple, safe and secure. And you can get your refund deposited into one, two or three different accounts, if you’d like.

Join the 8 out of 10 taxpayers who get their refunds via direct deposit. You can split your refund into one, two or three financial accounts and buy savings bonds too.

02/15/2022

To find out if you are eligible for the Child Tax Credit and the Earned Income Tax Credit, visit

childtaxcredit.gov

02/14/2022

Every retirement plan should include these 5 components.

02/11/2022

Financial Statements Your Business Needs

With the right financial statements you can identify trends and position your business for success. Read more!

02/10/2022

The Internal Revenue Service has provided information to Advance Child Tax Credit recipients and recipients of the third round of Economic Impact Payments. To learn more, read the article below:

IR-2021-255, December 22, 2021 — The Internal Revenue Service announced today that it will issue information letters to Advance Child Tax Credit recipients starting in December and to recipients of the third round of the Economic Impact Payments at the end of January. Using this information when p...