Burns Rodriguez and Associates Tax Services

09/03/2024

Hey everyone, is anyone interested in learning how to prepare income taxes. You can make some extra cash $$$ or simply have more knowledge. We are starting our (Burns Rodriguez & Assoc.) income tax class tonight, 6:30pm @ our office, conveniently located at 4102 E. Tremont Avenue, Bronx, N.Y. 10465 (718) 829-3900. Tonight is an orientation to the class, so come on out and hear what we have to say...

03/07/2024

This Sunday, March 10th St. Patrick's Day Parade (Faddys Day) Throgs Neck Style, come join us for the band, "The Hambones" playing right in front of our office next door to Bridges. The parade starts at High Noon, 12.00pm, the band goes on at 1:00pm. Come on by for a pint or two... Burns Rodriguez & Associates conveniently located at 4102 E. Tremont Avenue in the Boogie Down...(718) 829-3900 if you need a tax appt.

Take a look at our Home page. Burns Rodriguez & Associates is a full service tax, accounting and business consulting firm located in Bronx, NY.

10/20/2023

04/09/2022

Following are the tax brackets for tax year 2021 — the period for which most Americans must file tax returns by April 18, 2022.
The tax code has seven brackets, or income levels, which the IRS adjusts every year to keep pace with inflation. The tax system is progressive, meaning that people pay a little more in tax as they have more income.
Do you need assistance filing your tax return?
Call us today, we are here to help you!
718-829-3900
Our business hours are
Mon-Fri 9 am to 8 pm
Sat & Sun 9 am to 5 pm

04/07/2022

10 days to go. Need to file an extension?
Do you need assistance filing your tax return?
Call us today, we are here to help you!
718-829-3900
Our business hours are
Mon-Fri 9 am to 8 pm
Sat & Sun 9 am to 5 pm

04/06/2022

TAX RETURN TIPS FOR LAST-MINUTE FILERS
If you've been procrastinating on filing your tax return this year, here are eight tips that might help.
1)Don't Delay-Resist the temptation to put off your taxes until the last minute. Getting a head start (even if it is a week or two) will keep the process calm and mean you get your return faster by avoiding the last-minute rush.
2) Gather Tax Documents in Advance. Make sure you have all the records you need, including W-2s and 1099s.
3) Double-check Math and Verify Social Security Numbers. Taking care will reduce your chance of hearing from the IRS. Submitting an error-free return will also speed up your tax refund.
4) E-file for a Faster Tax Refund
Taxpayers who e-file and choose direct deposit for their refunds, for example, will get their refunds in as few as ten days.
5) Don't Panic if You Can't Pay
If you can't immediately pay the taxes you owe, consider some stress-reducing alternatives. You can apply for an IRS installment agreement suggesting your monthly payment amount and due date and get a reduced late payment penalty rate.
6)Request an Extension of Time to File
If the clock runs out, you can get an automatic six-month extension bringing the filing date to October 17, 2022 - but make sure you pay by the April 18 due date.
7) Taxpayers Outside the United States File June 15. U.S. citizens and resident aliens who live and work outside the U.S. and Puerto Rico have until June 15, 2022, to file their 2021 tax returns and pay any tax due.
8) Military Service Members Serving in a Combat Zone. A complete list of designated combat zone localities is available on the IRS website.

Help is Just a Phone Call Away
If you run into any problems, have any questions, or need to file an extension, contact the office today.
Call us today.
718-829-3900
Our business hours are
Mon-Fri 9 am to 8 pm
Sat & Sun 9 am to 5 pm

04/01/2022

Seventeen days to go.. We are starting the countdown to T-Day!
Do you need assistance filing our tax return?
Call us today, we are here to help you!
718-829-3900
Our business hours are
Mon-Fri 9 am to 8 pm
Sat & Sun 9 am to 5 pm

04/01/2022

Other common mistakes are:
• Not Using the Correct Bank Account and Routing Numbers
Make sure that the financial institution routing and account numbers entered on the return are accurate. Incorrect numbers can cause a refund to be delayed or deposited into the wrong account.
• Figuring Credits or Deductions
Taxpayers can make mistakes figuring things like their earned income tax credit, child and dependent care credit, child tax credit, and recovery rebate credit. The Interactive Tax Assistant Tool on IRS.gov can help determine if a taxpayer is eligible for tax credits or deductions.
• Forgetting to Sign and Date the Return
If filing a joint return, both spouses must sign and date the return. E-filers can sign using a self-selected personal identification number (PIN).
• Failing To Keep a Copy of Your Return
When ready to file, taxpayers should make a copy of their signed returns and all schedules for their records.
• Not Requesting an Extension, if Needed
Taxpayers who cannot meet the April 18 deadline this year can easily request an automatic filing extension to October 17, 2022, and prevent late filing penalties. Remember that while an extension grants additional time to file, tax payments are still due on April 18, 2022.
If you need help filing and with the preparation of your tax return
Call us now - Don't delay-
718-829-3900
Our business hours are
Mon-Fri 9 am to 8 pm
Sat & Sun 9 am to 5 pm

03/30/2022

Who? All retirees who turned 72 during the last half of 2021.
"The payments, called required minimum distributions (RMDs), are normally made by the end of the year. But anyone who reached age 72 after June 30, 2021, is covered by a special rule that allows IRA account owners and participants in workplace retirement plans to wait until as late as April 1, 2022, to take their first RMD. In other words, in general, the special April 1 rule applies to IRA owners and other participants in these plans who were born after June 30, 1949."
The April 1 RMD deadline only applies to the required distribution for the first year. For all later years, the RMD must be made by December 31.

This means that taxpayers who turned 72 after June 30, 2021, and receive their first required distribution (for 2021) in 2022 on or before April 1, must receive their second RMD (for 2022) by December 31, 2022. Even though the first distribution is actually the required 2021 distribution, it's taxable in 2022 and reported on the 2022 tax return - along with the regular 2022 distribution.
These required distribution rules apply to owners of traditional, SEP, and SIMPLE IRAs while the original owner is alive. They also apply to participants in various workplace retirement plans, including 401(k), 403(b), and 457(b) plans. RMDs don't apply to Roth IRAs.

An IRA trustee must either report the amount of the RMD to the IRA owner or offer to calculate it. Often, the trustee shows the RMD amount on Form 5498 in Box 12b. For a 2021 RMD, required by April 1, 2022, the RMD amount is shown on the 2020 Form 5498, normally issued to the owner during the first part of 2021.

Need assistance with this or any other IRA's or 401K matters?
We are here to help.
Call us 718-829-3900

03/25/2022

From filling out forms to filing your tax return.
We get it DONE!

Call us now - Don't delay-
718-829-3900
Our business hours are
Mon-Fri 9 am to 8 pm
Sat & Sun 9 am to 5 pm

Pic credit to Someecards

03/23/2022

The 2022 tax season introduces major tax changes--including stimulus payments, child tax credits, unemployment insurance claims. and other pandemic-related factors -- as well as a warning from the IRS about expected delays in processing returns.
We are here to help you. From filling out forms to filing your tax return.
Call us today.
718-829-3900
Our business hours are
Mon-Fri 9 am to 8 pm
Sat & Sun 9 am to 5 pm