Keith Boyer CPA's Blog

Topics and tips about accounting, taxes, business to personal finance and more!

How will the IRS treat your Venmo payments to and from your business?

The convenience of Venmo and payment-to-payment apps like Zelle, Chase QuickPay, and Cash App have many businesses, both large and small, using the application to make and receive payments for services and or products. What is Venmo?Venmo is a mobile payment app that allows you to send money from your phone directly to recipients. The app, owned by...
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28578 Hits

Important changes to your tax filings and payments due to Coronavirus

Extension Date for Tax Filings and Payments On Friday, March 20, 2020, U.S. Secretary of Treasury Steven Mnuchin announced the extension of tax payments to July 15th, 2020. With this postponement, you will not accrue any interest or deal with penalties on tax payments until July 16th.The postponement of payment is up to $1 million for individuals a...
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584 Hits

Deadline approaching for Self-Employed Retirement Plan Contribution

Simple ContributionsTiming​ "When do I need to make my SIMPLE Retirment Contribution by for 2019"?Salary reduction contributions to a SIMPLE must be made to the financial institution no later than January 30.Benefits​​ "How much can I contribute to my SIMPLE IRA"?A SIMPLE is a good alternative for a self-employed individual as an alternative t...
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1045 Hits

New York State just implemented a tax that might put Vape Shops out of business

BACKGROUND:Vapor product manufacturers such as Juul Labs, as well Marlboro maker Altria Group's Nu Mark have become the hot topic of conversation over the Thanksgiving table due to the increasing nationwide respiratory illness developed by young adults through inhaling a nonflammable liquid and, or gel with or without nicotine that are manufactured...
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954 Hits
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