Tag Archives: Franek Tax Services

NCDOR – Department of Revenue Provides Special Penalty Relief

NCDOR – Department of Revenue Provides Special Penalty Relief Due to COVID-19

Continue Reading →

Filing Deadline Extended to July 15

U.S. Treasury Secretary announces on Twitter This morning, U.S. Treasury Secretary Steven Mnuchin announced via Twitter: “At @realDonaldTrump’s direction, we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.” We expect the IRS will issue official guidance

Continue Reading →

Have a Hobby You Make Money From?

Taxpayers who make money from a hobby must report that income on their tax return.

Continue Reading →

Small Business Owners May Benefit From This

Small business owners should find out if they can benefit from claiming this deduction. The home office deduction can help small business owners save money on their taxes. Taxpayers can take this deduction when they file their taxes if they use a portion of their home exclusively, and on a regular basis, for any of the following:

Continue Reading →

Reasons for You to File a 2019 Tax Return

While many people are required to file a tax return, it’s a good idea for everyone to determine if they should file. Some people with low income are not required to file but will need to do so if they can get a tax refund. Five Tips for Taxpayers Who are Deciding Whether to File

Continue Reading →

Earned Income Tax Credit

The earned income tax credit benefits working people with low-to-moderate income. Here are a few things people should know about this credit.

Continue Reading →

What to Know About the Amount of a Tax Refund

Certain transactions can affect tax withholdings and influence the taxpayer’s anticipated refund.

Continue Reading →

Still Time To Contribute to Your IRA

Whether you are a veteran in your career or you are working an hourly job you still have time to contribute to your Traditional IRA if you were under 70 years and 6 months old by the end of 2019 and receive taxable compensation. IRA or individual retirement accounts are alternative to employer-related accounts. If

Continue Reading →

Tax Tips to Help New Business Owners Find Success

If you are starting business, there are so many things to consider, and taxes are one of the major ones.

Continue Reading →

It’s Important Taxpayers Know Their Filing Status

When a taxpayer files their tax return, they need to know their filing status. What folks should remember is that a taxpayer’s status could change during the year. So, any time is a good time for a taxpayer to learn about the different filing statuses and which one is best for them. Knowing the correct filing

Continue Reading →

Connect Socially!

Franek Tax Services, Tax Return Preparation, Cary, NC