Get Ready for Tax Season: Set up your IRS online account

It’s only August, so you’re probably not thinking about next tax season yet – but I am! Get ahead of the game by setting up your IRS online account now so you don’t have to worry about it, come tax season.

What you need on-hand to create your account:

  • Email address
  • SSN or ITIN
  • Tax filing status and mailing address
  • One financial account number linked to your name
  • Mobile phone linked to your name OR access to mail

What you can view with your IRS online account:

  • Payoff amount, which is updated for the current day.
  • Balance for each tax year for which you owe taxes.
  • Your payment history.
  • Key information from the your most current tax return as originally filed.
  • Payment plan details if they have one.
  • Digital copies of select IRS notices.
  • Economic Impact Payments if you received any.
  • Your address on file.

Contact me if you need help setting up your IRS online account!

Mid-Year Check-in: How is your business looking?

Now is the perfect time to check your business goals for 2021! Analyze the goals you set for the year and adjust them if necessary. We’re halfway through 2021 – are you halfway towards your goal for the year? Use your company’s data to track performance and see how you measure up so far, and tweet your status!

I’m ahead of my goals for the year! #winning

That’s awesome! Now is the time to set bigger goals for the second half of the year! Consider updating your goals for this year’s stellar performance.

I’m on track to hit my goals for the year!

Congratulations! Don’t forget to review your progress towards your goals each month to make sure you stay on track.

I might not hit my goals for the year…time to reevaluate!

Do you need to update your goals to be more realistic? Maybe you just need an extra push to reach your goals! Consider promotions or even a new social media campaign to hit your goals.

Spring Cleaning Your Business

6 things you can do now to prepare for a successful year in business!

  1. Keep your tax documents together

Make tax season easier: as you receive your tax documents, keep them together in a folder so that they’re ready to go for filing. Don’t forget to save documentation from any donations you make throughout the year! 

  1. Organize your inbox

Most of us use email as our main form of communication – and it can certainly get virtually cluttered! Go through your inbox, delete those spam emails, and create labels or folders to keep things organized all year long. 

  1. Tidy up your website

Websites aren’t “set it and forget it” – double check that your links work and your website is clean and easy to navigate for new and returning customers. This is also a great time to double check your social media pages: is all information correct and up-to-date? 

  1. Review your goals

What new thing did you try this year? Maybe it was a new marketing strategy or an update to your business model. Did your website visits increase? Did you grow your customer base? Check in with your past and future goals to see where you stand. 

  1. Plan for this year’s holidays

If you haven’t already, make a calendar of important holidays (and maybe even clients’ birthdays) for your business – and don’t forget to include some fun holidays! Use these holidays for your social media, or just as reminders to keep in contact with your clients. 

  1. Declutter your office

Don’t forget to actually “Spring clean” your office! Dust off your books, shred those papers you don’t need anymore, make sure your pens work, and do all the things we put off the rest of the year to freshen up your work space. 

Where’s my refund?

Click here to access the IRS’s Where’s My Refund? System

Most refunds are issued within 21 days of filing. Where’s My Refund? will track your return progress through 3 processing stages:

  1. Return received
  2. Refund approved
  3. Refund sent

What you’ll need:

  1. Your SSN
  2. Filing status
  3. Refund amount

How long to wait:

If you e-filed, wait 24 hours before checking the Where’s My Refund? system.
If you mailed your return, wait 4 weeks before checking the status.
If you filed an amended return, you cannot use the Where’s My Refund? system for the status of your refund.

There’s no need to call the IRS unless it has been more than 21 days since filing and you have not yet received your refund.

Download the IRS2Go app to check your refund status on your mobile device!

5 Tips for Taxpayers to Make Filing Easier

Filing your personal or business taxes can be stressful; here are 5 tips to make the process a little easier!

  1. File electronically and use direct deposit.

File your taxes directly through the IRS website and submit your banking information for the quickest refunds. Double check that your banking information is accurate to avoid delays in receiving your refund.

  1. Check for the latest tax information, including the latest on Economic Impact Payments. 

Avoid the headache of a call! Check regularly for real-time updates directly from the IRS, including date changes. 

  1. For those who may be eligible for stimulus payments, carefully review the guidelines for the Recovery Rebate Credit. 

Remember, advance stimulus payments received separately are not taxable, and they do not reduce the taxpayer’s refund when they file in 2021. 

  1. Those who did not receive a stimulus payment or only received a partial payment may still be eligible to claim the Recovery Rebate Credit. 

Carefully review the guidelines for the Recovery Rebate Credit. Tax preparation software, including IRS Free File, will help taxpayers figure the amount. 

  1. Talk to your bookkeeper about filing both your business and your personal taxes. 

Your bookkeeper will have the necessary knowledge about you and your business to file for you, making the process as easy as pie! 🥧

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