All posts by: ngasadmin

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All taxpayers should file on time, even if they can’t pay what they owe. This saves them from potentially paying a failure to file penalty. Taxes are due by the original due date of the return. Here are four tips for those who can’t pay their taxes in full by the April 18 due date: […]

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.). In addition, if you do not elect voluntary withholding, you should make estimated tax payments on other taxable income, such as unemployment compensation and the taxable part of […]

Taxes are due April 18th this year. Taxpayers can request an automatic six-month extension of time to file your tax return. But, taxpayers beware, there is a catch! An extension is just an extension on the time to file the return; it is not an extension on the time to pay! Taxpayers are required to […]

IRAs are designed to enable taxpayers to save for retirement and you still have time to contribute to an IRA for 2016 and, in many cases, qualify for a deduction or even a tax credit.  To count for a 2016 tax return, contributions must be made by April 18, 2017. Most taxpayers with qualifying income […]

All Partnerships and S Corporations are due Wednesday, March 15, 2017 Partnerships (and entities taxed as partnerships) filing Form 1065: Calendar year filers will be due March 15th (previously April 15th) or the 15th day of the third month following the end of the organization’s fiscal year. S Corporations (and entities taxed as S corporations) filing […]

Do not delay!  If you are one of those who has not filed your 2013 Tax Return and know you are due a refund you have until this April 18th to file and receive that refund.  Otherwise LOSE IT! The IRS announced there are unclaimed federal income tax refunds totaling $1 Billion across the US […]

Contact NGAS now – we are here to help review your charitable contributions and complete your tax return Donating to your favorite Charity can qualify as a beneficial itemized deduction on your tax return, however, it is important to understand what qualifies as a contribution and what is a qualified organization. Qualified Organizations To confirm […]

IRS Tax Tip 2017-11  – As posted today, February 8, 2017 The Child Tax Credit is a tax credit that may save taxpayers up to $1,000 for each eligible qualifying child. Taxpayers should make sure they qualify before they claim it. Here are five facts from the IRS on the Child Tax Credit:     […]

What You Need to Know:   Some refunds must be held until February 15.   According to a new tax law change, the IRS cannot issue refunds before February 15 for tax returns that claim the Earned Income Tax Credit or the Additional Child Tax Credit.   This applies to the entire refund, even the […]

To determine which reimbursement plan is suited for your company, you should understand how the plans are defined, the requirements and the advantages and disadvantages. Accountable Plan – commonly associated with Expense Reports To be an Accountable plan, the reimbursement must require the Employee to meet the following three criteria: The Employee must have paid […]