Henri Freitas Tax & Business Service LLC

10/30/2021

HENRI FREITAS DRIVE BY MEMORIAL
SATURDAY OCTOBER 30TH, 2021
118 EAST PALAI ST HILI, HI 96720
11:30AM - 3:30PM

10/11/2021

Unfortunately Henri Freitas gained her angel wings on September 12, 2021.

"A life that touches others will live on forever"
-unknown

A Memorial Drive by will be held on Saturday October 30, 2021 from 11:30am - 3:30pm at 118 E Palai St Hilo, Hawaii.

Memorial Services will be held on Saturday November 13, 2021 at 10:00am at Hope DIA-mend Ministries, 92-8988 Ginger Blossom Lane Ocean View, Hawaii.

For those who will not be able to make it, you may send condolences to:
PO BOX 7204 Hilo, HI 96720

07/13/2021

100% Business Deduction for Restaurant Food & Beverage in 2021 – Did You Know?

A special tax rule may enable many businesses, including sole proprietors and independent contractors, to take larger meal expense deductions in 2021 than the IRS usually allows. Ordinarily, deductions for food and beverage costs cannot exceed 50% of the actual expense. However, the 2021 rule enables businesses to deduct 100% of the cost of food and beverages from restaurants in certain cases beginning January 1, 2021 through December 31, 2022.

The provision defines a restaurant as a business that prepares food or beverages for retail customers to consume on-site, pick up, or receive by delivery. This definition excludes most grocery and convenience stores, unless the store contains a separate restaurant or cafe area. In addition, facilities overseen or owned by the employer claiming the deduction, such as a workplace cafeteria, generally do not qualify as restaurants under this rule.

In order for meal expenses to qualify for this special deduction, the following conditions must be met:

- The business owner or an authorized employee is present when the food and/or beverages are provided.
- The expense is paid to a restaurant, based on the definition above.
- The food and beverage costs are not lavish or extravagant for the circumstances.

The activity must also meet all the standard criteria for business meal deductions. A business tax advisor can help you determine whether your food and beverage expenses comply with IRS rules, and whether they qualify for a 100% deduction in 2021.

07/07/2021

IRS Issues New Warnings About Phone & Social Media Tax Scams – Did You Know?

The IRS recently updated its list of the 12 worst tax-related scams in America, known as the Dirty Dozen. Several current Dirty Dozen cases involve social media phishing, where scammers use social platforms to impersonate someone that a taxpayer knows and trusts.

For example, a scammer might "lurk" on a user's account, gathering personal information about the user from posts and public chats. The scammer then sends messages to the user that appear to come from a friend, family member or coworker. The messages may have links to websites related to the user's interests. However, clicking on the links triggers a download of spyware (software that the scammer uses to steal more private information) or ransomware.

Alternatively, the scammer may hack into a social media user's email or phone, then send fake messages to the user's friends and family. These messages may trigger malware downloads, or ask for donations to fake charities. All of these phishing methods can ultimately lead to tax-related identity theft. The IRS advises everyone to check the privacy settings on their social media accounts, and limit what they share publicly to prevent lurkers from mining personal data. If you receive an email or message from someone you know with a link or file, confirm that they sent it with a phone call or message them back.

The IRS also reminds Americans of the ongoing threat of phone scams involving IRS impersonation. Scammers may claim to be calling about a federal tax lien, or may threaten people with arrest for supposed tax issues. Remember that the IRS rarely initiates contact with taxpayers by phone, and NEVER demands payment via prepaid debit card, money order, wire transfer or gift card. If you ever doubt the legitimacy of an IRS phone call, do not provide any personal information. Hang up, then call the IRS directly at 1-800-829-1040 to ask about the call you received, along with any supposed issues raised by the potential scammer.

06/28/2021

Three New IRS Tools for 2021 Child Tax Credit Advance Payments - Did You Know?

The IRS recently launched three new online tools (links below) to help eligible Americans claim and manage their advance payments of the 2021 Child Tax Credit (CTC). In addition to increasing the maximum CTC amount and raising the age limit for qualifying children, the American Rescue Plan authorized the IRS to send monthly advance payments of the 2021 credit to millions of eligible families beginning on July 15.

The Child Tax Credit Eligibility Assistant helps families find out whether they qualify for the 2021 CTC. You do not need to set up an IRS online account in order to use this tool. Just answer 2-5 questions about whether you claimed the CTC in 2019 or 2020, where you live, and, in some cases, your tax filing status, family size and income. If the tool determines that you may qualify for the credit, you can follow the MANAGE YOUR ADVANCE PAYMENTS link to make sure you are enrolled to get monthly payments by check or direct deposit beginning in July.

The Child Tax Credit Update Portal provides additional information on eligibility for the 2021 CTC. However, in order to use it, you must either have an IRS online account, or go through an identity verification process. Once you determine that you are eligible, you can use this tool to:

- Unenroll from the program (for example, if you qualified for the CTC in 2019 or 2020 but do not expect to qualify in 2021 due to a family status or income change)
- Opt out of receiving advance payments, and instead receive your 2021 credit as a lump sum when you file your tax return
- Update your mailing address, family size, banking information for direct deposit, etc.

Most eligible families do not need to take any action, and will automatically receive monthly advance payments of the 2021 CTC from July through December. However, if you qualify for the credit but did not file a 2019 or 2020 tax return, you may need to register for this program using the Non-Filers Signup Tool. If you qualified for the CTC in past years but did not claim it, a tax professional may be able to help you file an amended return and perhaps receive an IRS refund for the credit.

CTC Eligibility Assistant: https://www.irs.gov/credits-deductions/advance-child-tax-credit-eligibility-assistant

CTC Update Portal: https://www.irs.gov/credits-deductions/child-tax-credit-update-portal

Non-Filers Signup Tool: https://www.irs.gov/credits-deductions/child-tax-credit-non-filer-sign-up-tool

06/21/2021

Summer Jobs - Did You Know?

If you're starting a summer job or know a teen or student who is, here is a useful tax-saving tip:

Students and teenage employees normally have taxes withheld from their paychecks by their employer after filling out a Form W-4.

However, if the job is regarded as self-employment, like baby-sitting or lawn care can be, they should keep good records of all expenses to help maximize potential deductions.

In the case of lawn care, potential deductible expenses may include business cards, fliers, fuel, equipment rentals, chemicals, work mileage, etc. A tax professional can help advise on potential deductible expenses.

06/14/2021

IRS Notifying Families Who May Qualify for Advance CTC Payments – Did You Know?

The American Rescue Plan Act of 2021 made three key changes to the Child Tax Credit (CTC) for tax year 2021. First, it increased the age limit for qualifying children to 17. Second, it raised the maximum credit from $2,000 per child up to $3,600 per child under 6, and $3,000 per child of age 6 through 17. Finally, it authorized the U.S. Treasury to make monthly advance payments of the 2021 credit beginning this July.

CTC advance payments will be sent to millions of taxpayers by check or direct deposit on the 15th of July, September, October, November and December, as well as on August 13th. The maximum payment amount will be $300 per child under 6, and $250 per child of age 6–17.

The IRS recently mailed letters to over 36 million U.S. households to notify them of their potential eligibility for these monthly payments. In most cases, the IRS determined possible eligibility based on taxpayers' 2020 tax returns, or information they provided via the Non-Filers Tool for 2020 stimulus payments. In cases where a person has not yet filed a 2020 return or their return has not been processed, the IRS used their 2019 return instead.

Most eligible taxpayers do not need to take any action to begin receiving advance CTC payments. However, those who have not filed a 2019 or 2020 federal tax return should file as soon as possible to ensure that they get payments if they qualify. You can submit a 2020 return to qualify for CTC payments even if you owe no tax and usually do not have to file IRS returns.

In the coming weeks and months, the IRS will also add a number of online tools to help ensure that all eligible taxpayers receive their advance CTC payments. These will include an Update Portal to provide the IRS with information on changes to your income or family size, an opt-out tool and a tool to determine your eligibility for the credit.

06/13/2021

ATTENTION *** FYI

Self-Employed and Independent Contractors collecting PUA UI BENEFITS...

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WHEN WILL THE WORK SEARCH REQUIREMENT BE REINSTATED?

The work search requirement for PUA claimants will be reinstated effective June 13, 2021.

DO I HAVE TO LOOK FOR WORK IF I AM FILING FOR PUA BECAUSE MY SELF-EMPLOYMENT WAS IMPACTED DUE TO COVID-19?

Yes. The new work search requirement includes those not traditionally covered under the unemployment insurance program, like the self-employed and independent contractors. You must actively seek to resume your self-employment.

Examples may include, but are not limited to, advertising your business, bidding on jobs, contacting potential clients, seeking assistance from the Hawaii Small Business Development Center or the U.S Small Business Administration.

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WILL I BE ASKED TO PROVIDE MY WRITTEN LOG OF JOB SEARCH CONTACTS TO RECEIVE BENEFITS?

Yes. You will be asked to provide your written log of job search contacts if your claim is selected for a Quality Control review or if you are selected to participate in the Reemployment Services and Eligibility Assessment (RESEA) program. Failure to provide your written log of job search contacts will result in a pending claim and require a claim examiner to contact you.

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HOW LONG DO I NEED TO KEEP MY WRITTEN LOG OF JOB SEARCH CONTACTS?

You must keep your written log of job search contacts for the duration of your claim.

Here is the UI link...

The work search requirement for unemployment insurance was reinstated effective May 30, 2021 for individuals who are no longer attached to their regular full-time employer or who are active members of a labor union that has a DLIR-approved job placement service. The work search requirement for PUA c...

06/10/2021

Quarterly Estimated Tax Payments - Reminder

If you are making quarterly estimated tax payments to the IRS, the due date for the April 1 - May 31 quarter of the year is June 15th, 2021.

For payments made using IRS Direct Pay, you can make payments until 8PM EST, and for payments using a credit or debit card, payments can be made up to midnight on the due date.

06/08/2021

2020 Tax Filing Deadline for U.S. Taxpayers Abroad Remains June 15, 2021

The IRS recently issued a reminder to American taxpayers living and working outside the U.S. that they must file their 2020 federal tax returns by Tuesday, June 15, 2021.

This June 15 deadline applies to U.S. citizens, dual citizens and resident aliens whose tax home and physical dwelling both lie outside the 50 states, D.C. and Puerto Rico. It also applies to active military personnel who were serving overseas on their normal filing due date. The IRS recommends attaching a note to your return explaining why you qualify for the special deadline.

Ordinarily, members of these groups may file their returns up to two months after the general IRS spring deadline. However, even though the IRS moved the 2020 tax filing deadline for U.S. residents from April 15 to May 17, 2021, the deadline for taxpayers outside the country did not change.

Many taxpayers abroad must file IRS returns even if they do not owe tax. For example, If you qualify for the Foreign Earned Income Exclusion or Foreign Tax Credit, which can reduce or eliminate your U.S. tax, you must file an IRS return to claim these benefits. You may have to file one or more forms disclosing your foreign bank accounts and other financial interests. A tax advisor can help you determine your filing requirements.

06/07/2021

Rule of thumb...

The COVID-19 pandemic mandates have affected the operational procedures of MANY governmental office procedures. Generally, for the health and safety of its employees and customers.

Case in point...testing or infected individuals...

1. The prisons
--OCCC
--HCCC

2. Adult Care Facilities
--Yukio Otsuka Veterans Home
--Care Homes in Honolulu (can't remember the names)

3. Hospitals
--Queens Community Facilities statewide
--Maui Hospital

4. Communities
--Kalihi
--Honolulu
--Kona
--Hilo

Health and safety is priority!

TIPS & SUGGESTIONS until the DMV/VRL APPOINTMENT REQUIREMENT is lifted and IN-PERSON transactions are allowed...

1. MAKE OR SCHEDULE an online appointment with the DIFFERENT offices
--Driver's licensing, CDL & State IDs (IDs ONLY)
--Vehicle Registration & Licensing (Vehicles ONLY)..SELECT the APPROPRIATE transaction type..SELECT the desired LOCATION
**NOTE: appt times may be 2 weeks-3 months ahead depending which numbered clerk is selected
--COMPLETE the appt

During your IN-OFFICE APPT now and in the future...

REMEMBER...

1. The laws are created, sponsored and signed into law by the Mayoral Administration, Community or District Political Representative and the State Legislature.

If there's any issues with the VEHICLE REGISTRATION OR DRIVER'S LICENSE & ID laws, CONTACT your local POLITICIAN who gets HIGHLY paid to do their job.

CHANGE CAN ONLY COME ABOUT when it is verbalized or written as testimony

2. The DMV/VRL clerks are the FRONT LINE OFFICE WORKERS who must PROCESS the transactions ACCORDING to the CURRENT LAWS that are IN FORCE.

THEY DO NOT MAKE IT UP AS THEY GO and they DESERVE the same respect YOU would want to receive IF YOU WERE IN THEIR POSITION. The Golden Rule.

If there's any issues with the CUSTOMER SERVICE RECEIVED, good AND bad, COMPLETE AN ONLINE OR PAPER Customer Service Survey making note of...
--date of service
--type of service
--name of clerk
--caliber of service.....good stuff..bad stuff..what you'd prefer done differently

3. For Both DMV/VRL... --Legal documents must be in order and must be ORIGINALS
--undamaged
--legible
--current
--not fraudulent

4. For both DMV/VRL --Required forms and other PROCEDURAL documents required for the completion of the transaction must be present
--Vehicle..Original or last issued Certificate of Title with proper authorized signatures..Appropriate and properly SIGNED Application(s)..ORIGINAL POA or Legal document or Business Signature Authorization..VALID certifications and/or certificates..All required forms and documents such as...
**junking
**storing
**transferring
**registering..appropriate and exact fees...see the website link provided below...

--HDL, CDL, IDs..Application..ALL necessary LEGAL documents
**Verifying ID from birth to current
**Verifying Citizenship
**Verifying Residence

An acceotable list of documents is provided online at the website link orovided below

**online website should list majority of the fees and all information for both VEHICLES and DL & IDs.

DEPARTMENT'S website...

www.hawaiicounty.gov/finance-vrl

If anyone needs information with Vehicle Registration, minimal information on Driver's License/State ID or CDL or assistance with scheduling appointments, you can contact me via my business by searching FB or Google for HENRI FREITAS TAX & BUSINESS SERVICE LLC.

I provide information FREE OF CHARGE.

NOTE: THE MAYOR'S OFFICE SHOULD BE CONTACTED ONLY WHEN THE CURRENT VRL/DMV ADMINISTRATOR, Naomi O'Dell does NOT respond SATISFACTORILY and according to CURRENT Laws and Procedures to a LEGITIMATE inquiry.

Here is the contact info...

Mayor: Mitch Roth
Managing Director: Lee Lord, PhD.
Deputy Managing Director: Bobby Command

East Hawaiʻi
25 Aupuni Street, Hilo, HI 96720
Phone: (808) 961-8211
Fax: (808) 961-6553
TDD: (808) 961-8521

West Hawaiʻi
74-5044 Ane Keohokalole Highway, Bldg C
Kailua-Kona, HI 96740
Phone: (808) 323-4444
Fax: (808) 323-4440
TDD: (808) 327-6003

FOLLOW MAYOR MITCH
Facebook: himayormitch

Instagram:

Twitter:

Latest information on Coronavirus Disease 2019 from the County of Hawaiʻi Civil Defense Agency: https://www.hawaiicounty.gov/coronavirus Latest information on vaccine availability for the County of Hawaiʻi, including a COVID-19 Vaccine Summary: https://www.hawaiicounty.gov/vaccination 

06/02/2021

Expanded Child Tax Credit for 2021 with Advance Payments – Did You Know?

The recently enacted American Rescue Plan Act (ARPA) made important changes to the Child Tax Credit (CTC) for 2021. The Act raises the maximum age for a child to qualify for the CTC from 16 to 17. The maximum credit amount will also increase from the 2019 and 2020 level of $2,000 per child. Qualifying taxpayers will receive a credit of up to $3,600 for each child age 5 or younger, and $3,000 per child age 6 through 17.

The increased CTC amount applies for eligible taxpayers with adjusted gross incomes (AGIs) in the following ranges:
Single: AGI of $75,000 or less
Married Filing Jointly: AGI of $150,000 or less
Head of Household: AGI of of $112,500 or less

Qualifying taxpayers with AGIs above these limits, but below $200,000 for individuals or $400,000 for joint filers, will still receive a credit of at least $2,000 per child. The 2021 CTC will completely phase out starting with AGIs above the $200,000 / $400,000 threshold. Married taxpayers who file separately typically only receive a partial CTC amount.

The CTC will also be fully refundable for 2021, meaning that if the credit reduces your tax to less than zero, you may receive an IRS refund. Furthermore, many people may receive up to 50% of their 2021 CTC in the form of advance payments. The IRS will start issuing these payments periodically beginning in July. The remaining credit amount will be calculated when you complete your 2021 federal tax return.

Unless Congress takes additional action, these special CTC provisions will apply ONLY for tax year 2021. The changes have no effect on your 2020 tax return. A tax professional can help you determine whether you qualify for the CTC, and how to claim the credit if you do.