Twin lakes accounting and tax service

12/30/2025

A little preparation goes a long way, especially when it comes to tax filing. One thing you can do now to make filing season easier: Find your direct deposit information. If you don't have a bank account, you have a few options you can plan ahead for. Things like prepaid debit cards, digital wallets or mobile apps support direct deposit.

Get ready for the filing season at https://ow.ly/ONTT50XKBJ5.

12/26/2025

Important Information when mailing Tax Returns!!!

There are several ways that taxpayers can protect themselves. The USPS suggests these three options for proof of timely mailing: https://www.forbes.com/sites/kellyphillipserb/2025/12/22/a-simple-postmark-change-could-affect-your-taxes-and-charitable-giving/?utm_campaign=ForbesMainFB&utm_source=ForbesMainFacebook&utm_medium=social

12/08/2025

We are at Continuing Education Classes. We are learning all about the tax changes for this tax year!!!!

07/14/2025

IRS Impersonation Scams - Did You Know?

The IRS recently issued new warnings about ongoing IRS impersonation scams designed to steal people's money, identities or both. The first thing to know about these scams is that the IRS almost always initiates contact with a person by sending a letter through the mail on official letterhead. If you receive an IRS letter and have created an IRS online account, you can log in to your account to check whether the letter is authentic. Otherwise, if you have doubts about a letter you receive, call the IRS at 800-829-1040 for more information.

The IRS does not initiate contact through email or social media messages, and only sends text messages with the recipient's permission, for instance because the person signed up for notifications. If you receive a message supposedly from the IRS promoting mysterious stimulus payments or tax credits, it is almost certainly a scam. Delete the message and do not click any links, as the links typically lead to fake IRS websites created to steal people's tax refunds or personal information.

Finally, when reaching out by phone, IRS employees do not leave aggressive messages threatening people with arrest. They also never demand payment in a specific format, such as prepaid gift cards. If you are unsure about the legitimacy of a phone call supposedly from the IRS, hang up and call an official IRS customer service number for more information.

05/16/2025

Today's tip: Self-employed individuals should set aside 25–30% of their income for taxes, thereby reducing stress during tax season.

04/15/2025

reminder for gig workers, freelancers and the self-employed: Your first estimated tax payment is due April 15. Don’t miss it! https://ow.ly/lqIK50VA1Sn

01/12/2025

reminds self-employed and others making estimated tax payments of the fourth quarter deadline on January 15. More info here: https://ow.ly/LqRP50UBiAL

01/05/2025

Self-employed people, including persons in the gig economy, often need to pay in quarterly installments.

This is a that the final payment for 2023 is due by January 16: www.irs.gov/estimatedtaxes

01/05/2025

It's time to send your 1099's out to your vendors that you paid over $600 to. They have to be mailed by January 31.

12/04/2024

Continuing Education for the Upcoming Tax Season has Commenced!!!

12/04/2024

Feeling grateful and want to share the wealth? Consider donating to a qualified charity with your IRA this year. When you use a Qualified Charitable Distribution (QCD), your donation is tax free. It's a great way to meet your required minimum distributions (RMD) and help an organization in need. Your donation will be shown on your Form 1099-R.

Find all the details on QCDs at https://ow.ly/8MRF50Uam1B.