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01/10/2026

January 26th, 2026 is the official first day of tax season!

IR-2026-02, Jan. 8, 2026 — The Internal Revenue Service announced Monday, January 26, 2026, as the opening of the nation’s 2026 filing season. This year, several new tax law provisions of the One, Big, Beautiful Bill become effective, which could impact federal taxes, credits and deductions.

01/10/2026

The minimum wage for non-tipped employees in South Dakota is $11.85/hour as of 01/01/2026.

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01/10/2026

https://www.youtube.com/watch?v=j-Y2PbG7b1k

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02/24/2025

IMPORTANT NOTICE: BOIR Reports have become mandatory again. These reports are due on 3-21-2025. If you have not already filed your BOIR click the link below and get filed to avoid hefty daily penalties!
Remember *** You are REQUIRED to also update your initial BOIR reports with FinCEN if you have started a business, changed ownership, moved, or dissolved a business. You have only 30 days to update your report in order to avoid a $500 daily penalty or even jail time.

12/06/2024

https://www.youtube.com/watch?v=T41c8WVBQR8

Book a Professional Tax Strategy Consultation ▶ https://taxalchemy.com/consultation?utm_source=youtubeCost Segregation Tax Savings Calculator ▶ https://taxal...

12/06/2024

https://www.youtube.com/watch?v=NCVKF264jOc

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07/12/2023

This month the second quarter federal 941 and state payroll reports will be due to be signed and mailed by 7-31-23.

07/12/2023

As of 7-1-23, South Dakota has decreased the sales tax rate from 6.5% to now 6.2%. Please adjust your registers and other POS systems to reflect this change.

Find helpful information regarding changes that occurred during the 2023 South Dakota legislative session that affected business taxes.

07/06/2023

https://help.venmo.com/hc/en-us/articles/4407389460499-2023-Tax-FAQ

Tax facts regarding the 1099k that will be issued to venmo users who receive $600 or more for the sale of goods or services.

Note: The IRS has delayed the implementation of the $600 reporting threshold for payment transactions for goods and services by one year. For the tax year 2022, the IRS will continue to use the rep...

01/05/2022

Friendly Reminder:
Fourth Quarter 1040 Estimated Tax Payments are due January 18th, 2022. You can obtain a blank Voucher 4 in the link below.
:)

01/05/2022

For those that have received any economic impact payments or advance child tax credit payments in tax year 2021, please be on the look out for verification letters that the IRS will be sending out this month.

Advance Child Tax Credit Payment = Letter 6419
Third Round Economic Impact Payment = Letter 6475

These letters will list the total amount of payments that taxpayers have received in 2021. It is the taxpayers responsibility to verify that they have received their full credit amount. Any outstanding credits that you have not yet received should be documented on your 2021 tax return. Please be sure to bring these letters along to your tax appointments.

Happy Filing Season!

COVID Tax Tip 2022-03, January 5, 2022 — The IRS started issuing information letters to advance child tax credit recipients in December. Recipients of the third round of the Economic Impact Payments will begin receiving information letters at the end of January.

01/05/2022

Happy New Year!
~SD Employer Announcement ~
Effective January 1st, 2022 the SD Minimum wage has been increased to $9.95 per hour for non-tipped employees and $4.975 for tipped employees.

Please be sure to check your employee pay rates to stay in compliance with this years rate changes.

Have a happy 2022!

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