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Monday 9am - 7:30pm Tuesday 9am - 7:30pm Wednesday 9am - 7:30pm Thursday 9am - 7:30pm Friday 9am - 2pm

Rhonda's Tax Service, Inc.

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Rhonda's Tax Service, Inc.

Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Rhonda's Tax Service, Inc., Tax preparation service, 5801 Allentown Road, Suite 303, Suitland, MD.

07/14/2025

Flexible Spending Arrangements (FSAs) - Did You Know?

Considering a job change? Before leaving your current position, check the account balances in your flexible spending arrangements (FSAs). You generally cannot transfer an FSA to a different workplace, so you will want to use up those funds to avoid forfeiting them to your employer.

07/02/2025

Employer Childcare Tax Credit – Did You Know?

Businesses that provide childcare services for employees may be eligible to claim a tax credit for some of the expenses involved. The Employer-Provided Childcare Tax Credit is offered to organizations that maintain on-site childcare facilities for employees, or provide resource and referral services like contracting with a qualified childcare facility.

To qualify for the Childcare Tax Credit, a business must incur expenses to provide childcare services for employees. The standard credit amount is 25% of costs associated with maintaining a childcare facility, or 10% of resource and referral costs, up to a maximum of $150,000. Eligible businesses may claim the credit as part of their general business credit, and so may carry any unused credit amount back one year, or forward up to 20 years. A business tax professional can help you structure the childcare services your enterprise provides for employees to meet the requirements for this business tax credit.

06/27/2025

Workplace Health Benefits - Did You Know?

If you set aside pre-tax dollars for medical expenses through a workplace benefits program, pay careful attention to whether the plan is a flexible spending arrangement (FSA) or health savings account (HSA). Generally, you must use up an FSA balance each year or risk losing it. This restriction does not apply to HSAs. Rules may vary slightly depending on your employer's plan options.

06/18/2025

Summer Tax Planning Reminders – Did You Know?

A variety of summer activities have the potential to generate taxable income, or to help you qualify for tax benefits. For example, if you engage in part-time, seasonal or gig economy work during the summer, then you may need to adjust your tax withholding or make estimated tax payments to account for the extra income. If your children work during the summer, they may need to file a tax return next spring to claim any IRS refunds they have coming.

Self-employed people who travel for business purposes may generally deduct travel expenses to reduce their taxable income. However, if a summer trip involves both business and personal activities, you must take care to only deduct expenditures that serve a clear, legitimate business purpose.

Finally, if you make improvements to your home this summer, then you may qualify for home energy tax credits. A variety of credits exist for projects that improve energy efficiency, or involve generating or using renewable energy like wind or solar power. You must carefully document all eligible expenses in order to claim these credits. Also note that the rules for energy credits may change after this year, so this summer might be the ideal time to complete a project. A tax professional can help you analyze the potential tax impacts of all your summer endeavors.

06/10/2025

Overseas Tax Filing & Quarterly Installment Deadlines

If you are a U.S Citizen or Green Card Holder living abroad and have not filed your taxes yet, the deadline is coming up on Monday, June 16th, 2025.

If you are making quarterly estimated tax payments to the IRS, the due date for the April 1 – May 31 quarter of the year is also June 16th.

For payments made using IRS Direct Pay, you can make payments until 11:45PM EST, and for payments using a credit or debit card, payments can be made up to midnight on the due date.

06/05/2025

Summer Day Camp Expenses – Did You Know?

Parents who paid for their children under the age of 13 to attend summer day camps may qualify to claim the Child and Dependent Care Credit on their tax returns. This credit provides assistance for parents who pay care expenses for a qualifying child so that they can work or seek work. You may also be able to claim the credit for day camp or other care costs for a dependent age 13 or older with a permanent disability. Note that expenses associated with sending children to overnight summer camps generally do NOT qualify for this credit.

To qualify for the Child and Dependent Care Credit, you must have earned income, and your adjusted gross income (AGI) must not exceed limits set by the IRS. Typically, the credit covers 20-35% of qualifying day camp or other childcare expenses, up to a maximum of $3,000 for one child or $6,000 for two or more children.

When claiming the Child and Dependent Care Credit, you generally must provide the name and taxpayer identification number (TIN) of the day camp or care provider on your tax return. In most cases, married taxpayers must file a joint return in order to get the credit, although exceptions exist for cases where spouses live apart. A tax professional can help you determine whether your summer day camp or other childcare expenses qualify for this valuable credit, and if so, help you maximize your credit amount.

05/29/2025

National 529 Day - Did You Know?

If you put money in a 529 account for education, withdrawal of earnings are tax-free if used for qualified educational expenses. Qualified educational expenses include tuition, fees, housing, meals and books. Many states offer a full or partial tax deduction for 529 plan contributions. They may also offer incentives and promotions to encourage families to open and contribute to 529 accounts today on National 529 Day.

The Tax Cuts and Jobs Act (TCJA) also expanded eligibility for 529 savings plans. Up to $10,000 per year may be used for Kindergarten through Grade 12 education (public, private, or religious schools).

05/22/2025

Capital and Ordinary Operating Expenses - Did You Know?

If you have business income, including income from self-employment activities, then you may have both capital expenses and ordinary operating expenses. Capital expenses relate to assets with lasting usefulness, like equipment, computers, machinery and furniture. Different tax rules apply for these two types of expenses, so make sure to keep them separate.

05/14/2025

Main Home Sale - Did You Know?

Selling valuable assets like real estate often results in a substantial gain, subject to federal capital gains tax. However, you may be able to exclude most or all of the gain from selling your main home from your taxable income. Before you sell, find out whether you qualify for the Primary Home Sale Exclusion.

05/07/2025

Independent Contractors - Did You Know?

If you work as an independent contractor, as is the case in many gig work arrangements, then you may need to pay self-employment (SE) tax. SE tax replaces the F**A category of employee paycheck withholding; paying it enables you to qualify for Social Security and Medicare benefits.

05/01/2025

Tax Refund Myths and Realities – Did You Know? (2/2)

Here are two more key facts you need to know to avoid falling for the myths.

- The refund amount displayed by the Where's My Refund tool could differ from the amount you were expecting. The IRS may need to adjust a taxpayer's refund amount for a variety of reasons, ranging from math errors on their returns to outstanding financial obligations. When such an adjustment is necessary, the IRS always sends a letter explaining the change.

- Getting a tax refund does not necessarily mean that your withholding is on track. Regardless of how your taxes came out, you should check your withholding at least once every year. Tax law changes, along with changes in your marital status, family size or many other factors can affect your withholding. You can use the IRS Withholding Estimator tool (link below) to find out if you need to make any adjustments.

IRS Where's My Refund tool: https://www.irs.gov/refunds
IRS Withholding Estimator: https://www.irs.gov/individuals/tax-withholding-estimator

04/23/2025

Tax Refund Myths and Realities – Did You Know? (1/2)

Taxpayers who are owed a tax refund naturally want to know how quickly that refund will come. Unfortunately, a lot of myths and half-truths about IRS refunds circulate online, giving people false expectations or leading them to waste time on unnecessary steps. Here are two key facts you need to know to avoid falling for the rumors.

- Calling the IRS will generally not yield more information about your refund. You can get the most up-to-date information about your refund status nearly around the clock by using the online Where's My Refund tool (link below) or by calling the automated refund hotline at 800-829-1954.

- The Where's My Refund Tool cannot always give a refund date. Some taxpayers may believe something is wrong if this tool does not display a mailing or deposit date for their refunds. Although the IRS issues many refunds within 21 days, some returns take longer to process. You will get a refund date once the IRS finishes reviewing your return.

IRS Where's My Refund tool: https://www.irs.gov/refunds

Address

5801 Allentown Road, Suite 303
Suitland, MD
20746

Opening Hours

Monday	9am - 7:30pm
Tuesday	9am - 7:30pm
Wednesday	9am - 7:30pm
Thursday	9am - 7:30pm
Friday	9am - 2pm

Website

https://rhondastaxservice.com/

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