HBC Tax & Accounting Inc

HBC Tax & Accounting Inc For small businesses and even individuals, trying to do your taxes on your own will often end up was

Considering loaning yourself money from your retirement account? Read this first!
07/09/2021

Considering loaning yourself money from your retirement account? Read this first!

Many are dipping into their employer sponsored retirement plans using the lending feature. Unfortunately, many are later faced with a tax problem!

Lower your 2021 tax bill! Here are some great ideas. And why not think about your debt decisions? When is debt good vers...
07/07/2021

Lower your 2021 tax bill! Here are some great ideas. And why not think about your debt decisions? When is debt good versus bad? You can even leverage mistakes the IRS finds in business audits.

Now that 2021 is more than half-way in the books, it’s time to kick your tax planning into high gear! Included in this month's newsletter are several ideas to help you reduce your tax bill. There is also an article that provides some ideas on how to think about debt. Some of it is good, while...

The nanny tax surprises thousands every year. Here is what you need to know.
07/02/2021

The nanny tax surprises thousands every year. Here is what you need to know.

Many famous taxpayers have been caught in an oft overlooked part of the tax code; household employees. The commonly referred nanny tax can be an expensive audit finding if not handled correctly. This is what you need to know.

Advance Child Tax Credit payments in July. This could be great. It could also create a mess for your family when filing ...
06/25/2021

Advance Child Tax Credit payments in July. This could be great. It could also create a mess for your family when filing taxes at the end of the year. Here is what you need to know.

Advance payments of the Child Tax Credits begin now. You only have approximately two weeks to opt out of this feature before payments start arriving AND many taxpayers should do just that! Here is what you need to know.

Hobby or business? You might be surprised by the tax savings in your future if you get this one right.
06/18/2021

Hobby or business? You might be surprised by the tax savings in your future if you get this one right.

Turning your hobby into a business can get you a big tax benefit if you do it right - or a big tax headache if you do it wrong.

Reminder: Second quarter estimated taxes are due Tuesday, June 15th.
06/11/2021

Reminder: Second quarter estimated taxes are due Tuesday, June 15th.

If you have not already done so, please plan to make your second quarter estimated tax payment. The due date is Tuesday, June 15th.

The only way to get a refund is to file a tax return. If you don't file a return, your overpayment turns into a donation...
06/04/2021

The only way to get a refund is to file a tax return. If you don't file a return, your overpayment turns into a donation to the U.S. Treasury. Here is what you should do.

Too many fail to claim their tax refunds. Could this be you? Here is what you need to know.

Find out the one number you need to know! Also read about hiring your kids for a summer job, the benefits of doing a 12-...
06/02/2021

Find out the one number you need to know! Also read about hiring your kids for a summer job, the benefits of doing a 12-month financial forecast and dive into the wonderful world of podcasts!

Do you know your net worth? Find out why knowing this number is one of the most important financial concepts you’ll want to understand. If you own a small business, read about why you should consider hiring your kids for a part-time summer job. Also find out how a continuous 12-month forecast...

Yikes! You just got a letter from the IRS. Here is what you should do.
05/28/2021

Yikes! You just got a letter from the IRS. Here is what you should do.

You got a letter from the IRS! Pulses quicken, there is a slight hesitation prior to opening the envelope, and stress levels go up. But is the letter always right?

Did you know the IRS forces you to withdraw a certain amount of money from tax-advantaged accounts during retirement? Le...
05/21/2021

Did you know the IRS forces you to withdraw a certain amount of money from tax-advantaged accounts during retirement? Learn more here.

Required minimum distributions are back in play. Here is what you need to know well before you reach retirement age.

97% of income taxes are paid by less than 50% of the households in America. So who is paying their fair share?
05/14/2021

97% of income taxes are paid by less than 50% of the households in America. So who is paying their fair share?

With all the chatter about who is paying what in federal income taxes, wouldn't it be nice to know what the IRS statistics say they collect? Here are the facts.

With the 2020 tax filing season...FINALLY... in the rearview mirror, now is the time to become aware of major changes fo...
05/07/2021

With the 2020 tax filing season...FINALLY... in the rearview mirror, now is the time to become aware of major changes for 2021. Here's what you need to know.

Here are major tax changes for 2021.

Address

200 Little Falls Street, Suite 502
Falls Church, VA
22046

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm
Saturday 9am - 5pm

Telephone

(703) 942-8443

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