Category Archives for Taxation
IRS destroys 30 million paper filed documents
In an unbelievable move to get current on their workload the IRS destroys 30 million paper filed documents. Click to read more
Continue reading2021 Child Tax Credit
2021 Child Tax CreditWhich children qualify?For tax year 2021, a qualifying child is an individual who does not turn 18 before January 1, 2022, and who satisfies the following conditions:The individual
Continue readingGet a Taxpayer IP Pin to protect your account at the IRS.
Security Summit: Tax pros should encourage clients to obtain IP PINs to protect against tax-related identity theft.WASHINGTON : Internal Revenue Service Security Summit partners today called on tax professionals
Continue readingWhere’s my refund!?
The new most asked question in 2021 is...Where's my refund!?(The most asked question had been...Where's my mask?) On July 1, 2021 the National Taxpayer Advocate (Erin Collins), released her annual IRS
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Are You Implementing Effective Tax Planning Strategies?
You’re probably wondering if the tips at the end will be worth it. Let’s run this down and I’ll let you decide for yourself whether these powerful strategies are worth learning and preventing
Continue readingOpt-Out of the Child Tax Credit advance
IRS Tool to Register for Monthly Child Tax Credit Advance IRS Launches Online Tool to Opt-Out of Monthly Child Tax Credit PaymentsLink for non-filers to opt-out of the Advance Child Tax Credit PaymentsFamilies
Continue readingPTE
Excess Pass-Through Distributions Pass-through entity excess distributions or another way of saying it is distributions in excess of basis sometimes come as a surprise to business owners. Excess distributions
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Top Business Advisor in Cincinnati, Ohio
Mike McCormick was the featured advisor of Growth Amplifiers Magazine and highlighted as a Top Business Advisor in Cincinnati, Ohio. Additional featured guests range from advisors, attorneys, and
Continue readingPPP Extended
The popular Paycheck Protection Program narrowly avoids expiration as President signs extension. President Biden on March 30 signed into the law the bipartisan Paycheck Protection Program (PPP) Extension
Continue readingStimulus Payment Calculators
Economic Stimulus Payments Calculate Stimulus Payment 1 (Mid 2020)Calculate Stimulus Payment 2 (Late 2020 / early 2021)Calculate Stimulus Payment 3 (Early 2021)
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Rock and Roll Real Estate Interviews Mike McCormick, CPA
Rock and Roll Real Estate Hour with Real Estate Agent Gary RossignolMike McCormick The Cincy Tax Advisor with Financial Clarity Group helps find ways to save more money plus A Moment with Myles
Continue readingBusiness Sanity for Real Estate Agents
How did your business do last month?Don't know?Does bookkeeping bog you down?Do you avoid it like delayed property maintenance?At Financial Clarity Group, we automate the tasks for you, so
Continue readingAmerican Rescue Act emergency impact payments
American Rescue Act - Round 3 Economic Impact Payments Following approval of the American Rescue Plan Act, the first batch of payments will be sent by direct deposit, which some recipients will start receiving
Continue readingAmerican Rescue Plan Act of 2021
American Rescue Plan Act of 2021New round of economic impact payments, expanded child tax credit with advance payments, non-taxable unemployment benefits and and other tax provisions.The IRS strongly urges
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The Rock and Roll Real Estate Hour
The Rock & Roll Real Estate Hour with Cincinnati Real Estate Agent Gary RossignolMike McCormick along with his college attending daughter Jordan discuss preparing for 2020. A Moment with Myles
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