Schon Tax & More LLC

So as we all thought NYS is not following suit and exempting $10,200 from Unemployment. All your Unemployment will be taxed to NYS. I will be contacting everyone to set up appointments to complete your returns

https://www.journalofaccountancy.com/n

As I said previously as I get information about the $10,200 exemption on Unemployment for 2020. LATEST UPDATE: IN A NUTSHELL The IRS sent a note on the 12th of March 2021, about the newly enacted American Rescue Plan Act of 2021, with special emphasis on how individuals should NOT file amended returns at this time.... For those who received unemployment benefits last year and have already filed their 2020 tax returns, the IRS emphasizes they should not file an amended return at this time until the IRS issues additional guidance The IRS made it clear that digital filers and paper filers alike will be given additional guidance on those provisions that could affect their 2020 tax returns. We have also not heard anything from NYS on this situation at this time

New York State needs to get off its dead A$$ and inform us if they are going to follow suit with the Federal Gov't and exclude the first $ 10,200 of Unemployment benefits for 2020. Other states have already elected to do just that.... we can not proceed further until it does

Good Morning everyone I hope you are enjoying this wonderful weather. As you have probably heard the new Stimulus package will include an Unemployment exclusion of the first $10,200 of your 2020 payments. We will need to wait for directions from the IRS on how to handle the returns that have already been filed. ... When we receive the direction from the IRS I will be contacting everyone that has already filed with unemployment, until then we all need to just sit tight. Also New York State has not addressed how or if they will be following the IRS concerning this exclusion. Thank you

I have a friend that posted that she didn’t go to college but she wasn’t gonna let that define who she was and now she’s the owner of two businesses and A very successful beautician. Her post made me realize that she’s right I went to college and I worked in my field for over 40 yrs but then it came to the point where I just couldn’t do the corporate bull crap anymore the big guy taking advantage of the little guy so I decided to go out on my own I wish I had done it sooner. At 65 I decided that I needed to get out of the corporate bull... and I did 3 years later with the support of my family, friends, and wonderful clients I have succeeded. I am very happy I made the move my clients get the same service they got before, the same expertise the only difference they don’t have to give up their firstborn in order to pay for it.

An E Mail went out by accident to a number of people giving a date and time for an appointment ...some that have messaged me for appointments are replying that that time works for them but it is not available... If you need an appointment please call me at 315-367-0001 and I am sorry for the confusion

Just a reminder that the IRS will be accepting tax returns starting Feb 12th, but you can still prepare your tax returns now if you need an appointment I can be reached at 315-367-0001 for all your tax needs

I just want to let you know of a couple of changes for this year when filing your tax return First... if you make charitable contributions and do not do a long form the IRS is allowing you to take up to $300 in addition to your Standard Deduction so don't let those contributions go to waste be sure to include them. Second.. The IRS re-established the Energy Credit it is a $500 limit so if you have not used this $500 previously and did Energy improvements in 2018,2019,or 2020 ...you may be able to use the credit. The credit includes windows, furnaces, hot water heaters, insulation, etc. You will be able to amend 2018 and 2019 returns to include this credit If you have any questions give me a call at 315-367-0001

If you did not get either of your stimulus payments you are now able to get them as part of your refund when you file your tax return.

The office is closed today ... if you need to make an appointment call 315-367-0001 if you are out and about you can drop off information in the drop box in the door ... stay safe if you need to travel