Businesses are the cornerstone of the American economy. As a business executive, it is important to stay up to date on all the documentation necessary to keep your corporation, LLC, or other entity legal. In most states, filing an Annual Report is required whether you make changes to your business, or not. The state of…
Read more
There are several corporate structures that exist to fit everyone’s needs. From C-Corporations to LLCs, every corporate structure gets taxed differently. This article will highlight some of the major aspects of how each business entity gets taxed and help you choose which one would best suit your style of business. Sole Proprietor: Filed on a…
Read more
Your personal information is as valuable as gold. As we are approaching the holiday season, it is important to protect your information at all costs. This article will highlight how to avoid common internet scams. Block unwanted calls and messages. Scammers are evolving their techniques and strategies to obtain your information. Whether through social media…
Read more
What is the Child Tax Credit (CTC)? The Federal Child Tax Credit is a program that has been around since the late 1990s. The current administration enhanced the CTC payments to help those in need. The information provided on your 2019 or 2020 tax return will determine your eligibility to receive the payments. If eligible,…
Read more
Dear Clients, did you know that over 35 Million Tax Returns are awaiting manual reviews causing delays in the refund process. The 2020 tax season proved to be challenging both for Alron Taxes, Inc. and taxpayers alike. Due to the onset of the global pandemic, over 35 million business and personal income tax returns require…
Read more
My Tax Refund Paid My Spouse’s Debt? If this sounds familiar, then you may want to look into this article on getting your refund back. First, take a minute to answer the following questions. If you answer yes to all the listed questions, you may just be eligible to file an injured spouse claim. Did…
Read more
ARE YOU REALLY A SUB CONTRACTOR? Hardworking individuals and business owners try to find various ways to avoid the extra cost of employee/employer payroll taxes, (approximately .153 per cent of your gross wages) and other payroll expenses such as employee income tax withholding worker’s compensation and unemployment insurance premiums adding approximately another 8 to 10…
Read more
Effective March 17, 2021, the Internal Revenue Service and the Treasury Department automatically extended the federal income tax filing due date for individuals from April 15, 2021 to May 17, 2021. Taxpayers do not need to file any forms or call the IRS to qualify for this automatic extension. With Tax Day now on May…
Read more
On Thursday, March 11, 2021, President Joe Biden signed into law a coronavirus relief package, the third of its kind. The gargantuan $1.9 trillion relief package known as the American Rescue Plan Act of 2021 will aim to boost the US economy. Direct Deposits Individuals earning up to $75,000 and couples earning up to $150,000…
Read more
An update on Minimum Wage Changes for 2021 The Fair Labor Standard Act (or FLSA) is a federal law, that sets minimum wage, overtime pay, recordkeeping, and young people’s work employment standards, that affect employees in the public and private sectors. FLSA has many exemptions from the minimum wage and overtime pay for construction industry,…
Read more