Repositax, Inc.

? Tax season is coming—are you ready? Many taxpayers scramble at the last minute, leading to missed deductions, errors, and unnecessary stress. Here’s what you can do NOW to prepare: ?? Gather Your Documents – W-2s, 1099s, deduction receipts, and investment statements. ?? Review Last Year’s Return – Identify changes in income, deductions, or tax credits. ?? Set Up Your IRS Online Account – Easily access transcripts, tax balances, and past returns. ?? Double-Check Deductions & Credits – Don’t overlook mortgage interest, student loan interest, or medical expenses. ?? File Early to Avoid Delays – The sooner you file, the sooner you can receive your refund! Let Repositax help you stay ahead of the game and keep your tax prep seamless: www.repositax.com #TaxTips #FileEarly #SmartFinances

?? Earning income or holding assets abroad? Don't make these costly tax mistakes! The IRS requires full disclosure of foreign income and accounts, and missing key reports like FBAR & FATCA can lead to severe fines. Here are 3 mistakes to avoid: 1?? Not reporting all foreign income (The IRS tracks global earnings!) 2?? Ignoring FBAR & FATCA (Required if your foreign accounts exceed $10K) 3?? Overlooking tax treaties (Avoid double taxation!) ?? Stay compliant and avoid penalties. Watch our latest video for essential insights! #TaxCompliance #GlobalTax #ForeignIncome #IRS #TaxStrategy

??? Organize Your Documents for a Smooth Filing Season As tax season approaches, ensure you're well-prepared by gathering all necessary documents. Here's a quick checklist to help you get started: ? Income Statements: Collect all Forms W-2 from employers and Forms 1099 for any additional income sources. ? Investment Income: Gather Forms 1099-INT, 1099-DIV, and 1099-B for interest, dividends, and brokerage transactions. ? Deduction Records: Compile receipts for deductible expenses such as charitable contributions, medical expenses, and mortgage interest. ? Educational Expenses: Have Forms 1098-T for tuition and 1098-E for student loan interest ready. ? Self-Employment Records: Prepare profit and loss statements, along with documentation of business expenses. Being organized not only streamlines the filing process but also ensures you don’t miss out on valuable deductions. Learn how Repositax can simplify your tax prep today: www.repositax.com #TaxSeason #TaxPrep #StayOrganized

Skip the Hold—Use IRS Online Tools for Faster Tax Help ?? ?? Instead of waiting on hold, visit IRS.gov for immediate answers to your tax questions. ?? Check Refund Status with the “Where’s My Refund?” tool ?? Get Tax Help with the Interactive Tax Assistant ?? File for Free with IRS Free File and Direct File ?? Manage Your Tax Info with an IRS Online Account ?? Did you know? 93% of taxpayers e-file, and direct deposit is the safest and fastest way to get your refund. Skip the stress, skip the wait—use IRS online tools today! #TaxSeason #IRSOnline #FileSmart #TaxHelp

?? Tax Season Prep: Start Gathering Your Records Now! The first step to a smooth tax filing experience for the 2024 tax year? Organizing your tax records! Having the right documents on hand ensures accurate filing and helps you avoid refund delays. ?? What You’ll Need: ?? Income Forms: W-2s, 1099s (MISC, NEC, INT, G), 1095-A ?? Receipts & Records: Deductions, business expenses, charitable donations ?? Tax Statements: Mortgage interest, student loan interest, investment earnings ?? IRS Online Account Benefits: ?? View past tax returns & AGI ?? Request tax transcripts ?? Check payments & balances ?? Receive important IRS notices ?? Need help? Visit the Get Ready page on IRS.gov for resources to make tax filing easier. #TaxSeason #TaxFiling #GetReady #IRS

As a small business owner, you juggle a lot—but one mistake with your taxes can bring unwanted IRS scrutiny. ?? Here are 3 common red flags that could trigger an audit: ?? Mixing personal and business expenses – That family dinner? It’s not a business write-off. Keep finances separate! ?? Misclassifying employees as independent contractors – The IRS has strict rules, and mistakes here can be costly. ?? Skipping quarterly tax payments – The IRS expects estimated payments. Missing them can lead to penalties. Protect your business! Watch our latest video for practical tax tips to stay compliant and avoid costly mistakes. #TaxPlanning #SmallBusinessFinance #IRSCompliance #AvoidAudit #SunshineNTaxes

Tax season is here, and while most taxpayers file with good intentions, small mistakes can still lead to an IRS audit. ?? Here are the top 3 errors to avoid: ?? Underreporting Income – The IRS matches your reported income with W-2s and 1099s. Missing something? That’s a red flag. ?? Claiming Ineligible Deductions – A ‘creative’ tax return could lead to penalties. Make sure you qualify! ?? Math Errors – Even small miscalculations can delay your return or invite IRS scrutiny. Stay ahead of tax season! Watch our latest Sunshine ‘n Taxes video for expert tips to keep your return audit-proof. #TaxPlanning #IRSCompliance #TaxSeason #SmallBusinessFinance #AvoidAudit

?? Get Instant Answers with the IRS Interactive Tax Assistant! Confused about tax rules? The Interactive Tax Assistant (ITA) helps you find quick, reliable answers to common tax questions—anonymously and securely! ?? Popular Topics You Can Search: ?? Filing requirements & deadlines ?? Dependents & tax credits ?? IRA & retirement distributions ?? Deductions (charitable, mortgage, medical, etc.) ?? Foreign income & tax credits ?? Gambling winnings, unemployment payments, and more! ?? How It Works: 1?? Select a tax topic 2?? Enter basic details 3?? Get personalized guidance—no personal data stored! ?? Try it now on IRS.gov and take control of your tax situation! #TaxHelp #IRS #TaxSeason #TaxQuestions

?? Need a Tax Preparer? Choose Wisely! Your tax preparer handles sensitive financial details, so it’s crucial to pick the right one! ?? Types of Tax Preparers: ?? Certified Public Accountants (CPAs) – Experts in tax and accounting ?? Enrolled Agents (EAs) – Federally authorized tax professionals ?? Tax Attorneys – Specialists in complex tax matters ?? Annual Filing Season Program (AFSP) Participants – Trained in tax preparation ?? Watch Out for “Ghost” Preparers! Some unethical tax preparers don’t sign returns and may submit false information. Always check credentials before hiring! ?? How to Verify a Tax Preparer: ?? Use the IRS Directory of Federal Tax Return Preparers ?? Check professional organizations for membership ?? Avoid preparers who promise huge refunds or charge based on refund size ?? Protect yourself and file with confidence! #TaxFiling #TaxPreparer #IRS #TaxTips

As an S-corporation owner, setting your salary correctly isn’t just about compliance—it’s about protecting your business from IRS audits and penalties. Here are three critical mistakes you should avoid: ?? Paying yourself too little – The IRS could reclassify your distributions and hit you with payroll taxes. ?? Ignoring market rates – Your salary should align with industry standards to avoid red flags. ?? Skipping documentation – Without proof, your salary decisions could be challenged in an audit. Don’t wait until it’s too late! Watch our latest Sunshine ‘n Taxes video to stay ahead of costly tax pitfalls. #SCorp #Entrepreneurship #TaxStrategy #SmallBusinessFinance #PayrollCompliance