NikoPat & Associates, CPA

01/08/2024

Huge Announcement!!!

Our Firm NikoPat & Associates, CPA is now helping taxpayers get IRS tax relief! IRS problems are a very personal type of problem and people often do not know where to turn for help, especially during times like these.

Many people just live with their back tax problem for months and sometimes years, assuming that nothing can be done about it. It’s easy for good, hard-working Americans to fall behind. Providing IRS Tax help to Washington, Virginia, and Maryland residents was a natural evolution for us at NikoPat & Associates, CPA.

I have come across many people who have tried to handle their IRS situation themselves (or with their current CPA or person who prepared their taxes) but didn’t receive the relief they were seeking.

The professionals on our staff know the “ins and outs” of the tax system and can negotiate a personalized solution for you.

NikoPat & Associates, CPA now handles IRS representation services which include the preparation of Unfiled Income Tax Returns, Penalty Reduction, Offers in Compromise, Payment Plans, Financial Hardship Plans, Wage Garnishment/Bank Levy Releases, Audits, and IRS Appeals.

We’ll listen to your IRS difficulties in our office, or via Zoom, in complete confidence at NO CHARGE. We’ll answer your questions, explain your options, suggest solutions, and provide you with a written estimate of our fees to permanently resolve your IRS difficulties. Please send us a private message or check out our website at www.nikopatcpa.com.

02/02/2022

If you are married, you can save for retirement with a spousal IRA even if only one of you has earned income in a given year. Read the article below for information on how spousal IRAs work and contact us today to help jumpstart your retirement savings!

Generally, you can’t contribute to an individual retirement account (IRA) unless you earn an income in a given year. The spousal IRA, however, is an exception to this rule, allowing each spouse in a couple to contribute up to the maximum if one of them earns an income. How Spousal IRAs Work A spou

02/01/2022

Depending on your income, you may be eligible to receive up to $8,000 back in child-care expenses. To discuss your tax credit eligibility, make an appointment with us today!

The child and dependent care tax credit, as it's called, was expanded for 2021 and is likely to reach more households.

01/31/2022

As tax season begins, its important to know just what forms you’ll need to have complete. Form W-4 tells your employer how much tax to withhold from each of your paychecks. For detailed and personalized tax assistance, contact us today!

Form W-4 tells your employer how much tax to withhold from your paycheck. Use our W-4 calculator & see how to fill out a 2022 Form W-4 to change withholdings.

01/28/2022

Types of Financial Statements for Your Business

Financial statements help you analyze your company's performance and meet your business goals.

01/27/2022

The 2021 IRS 1040 Form will include questions regarding your cryptocurrency transactions. Read this article below for information on how to report your crypto transactions and contact us for personalized tax guidance!

Your 2021 Form 1040 will include questions about cryptocurrency.

01/26/2022

The Importance of Separating Personal & Business Expenses

Discover some great tips for effectively separating your personal and business expenses. Read More!

01/25/2022

The income tax rate varies from state to state, and some states impose no income tax at all.

01/24/2022

Ebay sellers are required by the IRS to report their annual sales over $600 using Form 1099-K. https://pages.ebay.com/seller-center/service-and-payments/tax-information.html #:~:text=Your%20sales%20on%20online%20marketplaces,%24600%20or%20more%20in%202022.

eBay is required to charge internet sales tax on purchases in 34 states. If a shipping address is in one of the marketplace responsibility states within the U.S., the applicable tax will be collected by eBay and included in the order total at checkout. Tax reports are available on Seller Hub.

01/21/2022

With so many credit and debit card options available to us these days, why would anyone still choose to use cash?

Check out the benefits of using cash instead of cards and how it can help you stay inside your budget.

01/20/2022

Are you aware of the changes in your state's tax income rates? Here’s a complete list of tax rates for every state.

Do you know what you pay in state income tax? Rates range from 0% to more than 13% across the U.S. Here's what you need to know about where you live and what you'll pay.

01/19/2022

Direct deposit is the fastest way to receive a tax refund.