We are a Professional Tax Preparation & Accounting service and have been in the Tax Prep business for over 15 years. Our goal is always to provide a reliable and honest service to our current and future clients. We serve all 48 States and also provide a virtual service. You do not have to come to our office. We can have you upload your tax documents to our cloud portal in complete safety. Tax consultations are free for the 1st 20 minutes and our prices are the most reasonable in the industry. You can also find us on Google as Enterprise Express Tax Service in Bowie, MD, and on Facebook as well. Let's talk today.
Enterprise Express Tax Systems LLC的外部链接
6911 Laurel Bowie Rd
#206
US，Maryland，Bowie，20715
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Tax Preparation, Credit Restoration, Tax Planning & IRS Tax Resolution Consultant , Tech Educator/Trainer, Adjunct Professor & Serial Entrepreneur
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IRS CP2000 letter recap
Tax Preparation, Credit Restoration, Tax Planning & IRS Tax Resolution Consultant , Tech Educator/Trainer, Adjunct Professor & Serial Entrepreneur
When the IRS writes a letter it can create panic before you even open the letter. Who knows, maybe an examination request or worse a full blown audit? Truth is IRS full scale audits are few & far between. One of the most common letters is the CP2000 letter. It's typically generated when there's a discrepancy in income reported to the IRS by your employers and what's been filed by the taxpayer. here's an IRS video that does a great job at explaining what the CP2000 letter is. Enterprise Express Tax Systems LLC
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Tax Preparation, Credit Restoration, Tax Planning & IRS Tax Resolution Consultant , Tech Educator/Trainer, Adjunct Professor & Serial Entrepreneur
Why TAX PLANNING should be a Priority in 2024! So, you make an appointment with your Tax Professional/CPA and submit your yearly Tax documents for review. 2 days later your Tax Pro calls you back and delivers a shocker! You owe $$$$$$ more than you did the prior year. You are in absolute shock and dismay. How could this be, you ask yourself!! You ask your Tax pro to cross-check and make sure there are no errors. Did they make the right calculations? What about those deductions?? Maybe it's time to change your Tax Pro/CPA. This is a very common scenario and in most cases, it's due to a lack of Tax planning. Tax planning is?the analysis and arrangement of a person's financial situation to maximize tax breaks and minimize tax liabilities legally and efficiently. Now some may ask, what is the difference between financial planning and tax planning? An efficient financial planner should look ahead and plan for short-term as well as long-term financial goals.?The scope of tax planning is solely limited to helping you receive the maximum possible tax benefits each successive year. So have your Tax professional do the following: 1. Start with reviewing your Bi-Weekly pay stub and your W2 year-end statement. Pay particular attention to your withholding - you may need to increase and/or decrease using your form W4. 2. Your Tax Pro may suggest paying estimated taxes - Estimated tax is?the method used to pay tax on income that is not subject to withholding?(for example, earnings from self-employment, interest, dividends, rents, alimony, etc.). 3. Project forward 5 years and calculate how much taxes you would have paid at the current tax rates & and plan/strategize with your Tax Planner how to save on Taxes over a 5 year period. Know what your current tax rate is based on your income. 4. Marginal rates:?For tax year 2024, the top tax rate remains 37% for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing jointly). The other rates are: 35% for incomes over $243,725 ($487,450 for married couples filing jointly) 32% for incomes over $191,950 ($383,900 for married couples filing jointly) 24% for incomes over $100,525 ($201,050 for married couples filing jointly) 22% for incomes over $47,150 ($94,300 for married couples filing jointly) 12% for incomes over $11,600 ($23,200 for married couples filing jointly) The lowest rate is 10% for incomes of single individuals with incomes of $11,600 or less ($23,200 for married couples filing jointly). 5. Our Tax Practice is committed to Tax Planning for your Financial vision in 2024 & beyond Enterprise Express Tax Systems LLC. Do check out & and subscribe to our YouTube Channel @ https://lnkd.in/eSrAabiE
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Tax Preparation, Credit Restoration, Tax Planning & IRS Tax Resolution Consultant , Tech Educator/Trainer, Adjunct Professor & Serial Entrepreneur
Health Insurance & Filing Taxes. The Maryland Health Connection is a health insurance marketplace for Maryland residents who are not covered by their employer. Other states have their own Health Insurance Marketplace DC included. It was created in accordance with the Patient Protection and Affordable Care Act. The Form 1095-A provides consumers with certain information about their Marketplace health coverage during the prior year so they can file their federal income taxes, reconcile any advance payments of the premium tax credit (APTC) received, and claim the premium tax credit (PTC). Consumers need the information on Form 1095-A to complete Form 8962. Consumers must complete Form 8962 and file it with their federal income tax return if they want to claim the PTC or if they received APTC (Advanced Premium Tax Credit). Consumers receiving the APTC are required to file a federal income tax return. The advanced Premium Tax Credit is a tax credit you can take in advance to lower your monthly health insurance payment (or “premium”). The APTC equals the difference between (1) the cost of the “second-lowest cost silver plan” available to you (based on your age, family size, and county of residence.
Enterprise Express Tax Systems LLC转发了
Tax Preparation, Credit Restoration, Tax Planning & IRS Tax Resolution Consultant , Tech Educator/Trainer, Adjunct Professor & Serial Entrepreneur
Health Insurance & Filing Taxes. The Maryland Health Connection is a health insurance marketplace for Maryland residents who are not covered by their employer. Other states have their own Health Insurance Marketplace DC included. It was created in accordance with the Patient Protection and Affordable Care Act. The Form 1095-A provides consumers with certain information about their Marketplace health coverage during the prior year so they can file their federal income taxes, reconcile any advance payments of the premium tax credit (APTC) received, and claim the premium tax credit (PTC). Consumers need the information on Form 1095-A to complete Form 8962. Consumers must complete Form 8962 and file it with their federal income tax return if they want to claim the PTC or if they received APTC (Advanced Premium Tax Credit). Consumers receiving the APTC are required to file a federal income tax return. The advanced Premium Tax Credit is a tax credit you can take in advance to lower your monthly health insurance payment (or “premium”). The APTC equals the difference between (1) the cost of the “second-lowest cost silver plan” available to you (based on your age, family size, and county of residence.
Who needs a schedule C tax form?
Tax Preparation, Credit Restoration, Tax Planning & IRS Tax Resolution Consultant , Tech Educator/Trainer, Adjunct Professor & Serial Entrepreneur
If you're a sole proprietor, Independent contractor, LLC Single member owner or maybe a partner receiving a K1 form then the IRS schedule C is a form you must get familiar with. Typically filed with the 1040 the schedule C allows for filing of self employed income & the deduction of business expenses with the possible end result of reducing your overall Tax liability. It also enables the the calculation of self employed Taxes. Enterprise Express Tax Systems LLC
IRS Direct file is here!
The IRS is rolling out a free option for filing federal tax returns this year to some residents of a dozen states. The direct file pilot will be open to low- and moderate-income taxpayers with simple returns. For instance, to be eligible, filers must take the standard deduction and have income limited to wages reported on Form W-2, Social Security or unemployment as well as interest income of $1,500 or less. Gig workers aren’t eligible. "At least several hundred thousand taxpayers" are expected to participate, the IRS said, calling it a “limited” pilot. But the agency’s plans have already met resistance from tax preparation companies.
Enterprise Express Tax Systems LLC转发了
Tax Preparation, Credit Restoration, Tax Planning & IRS Tax Resolution Consultant , Tech Educator/Trainer, Adjunct Professor & Serial Entrepreneur
I've discovered the principle of "Margin"....As business owners, highly productive employees & leaders we are constantly on the go striving to meet preset goals & objectives. The rule of "Margin" sets a balance for us...a time used to reset. Examples include short naps, walks in the park, Vacation time. Dates with your spouse. Specific time set aside on ones calendar to "think & meditate"...and believe it or not, times when you just do nothing... absolutely nothing. Famed productivity author John Maxwell states that "Margin produces much needed energy renewal". Ironically the best way to get more done may be to spend more time doing less! Check out John Maxwell's book Titled "Developing the leader within you 2.0"
Tax Preparation, Credit Restoration, Tax Planning & IRS Tax Resolution Consultant , Tech Educator/Trainer, Adjunct Professor & Serial Entrepreneur
IRS sets a start date for the 2024 Tax filing season! January 29 is the start date. This gives you enough time to get your Tax documents together & meet with your Tax advisor. Tax returns can be prepared prior to January 29. They just won't be processed until that date. We expect Tax refunds to start hitting bank accounts around Feb 15. Check out our YouTube channel @ https://lnkd.in/e8EicJCN & our business page Enterprise Express Tax Systems LLC