Winter Quarterly Newsletter 2024

Feb 1

President’s Message

Welcome to the New Year! There are several tax code changes that may affect your 2023 tax return this year. We are here to help give you peace of mind by providing you with tax planning service, helping you minimize your tax liability and knowing that the Certified Public Accounting (CPA) services we offer means we stay up to date with all tax laws and accounting requirements. We look forward to working with you!

Don’t be Surprised on April 15th!

Are you prepared to file your Federal Taxes? Click here to see what is new and things to consider when filing in 2024.

Organize tax documents throughout the year.
Use the checklist and 2022 tax return to collect all documents.
Submit all documents during prime time: January – mid-March.

Documents submitted after April 1, 2024, may require an extension.

New Tax Law for Current and Future Business Owners

Dennis sent an email at the beginning of January to all clients outlining the new tax law for current and future business owners. The requirement to file the Federal Beneficial Ownership form with FinCEN (Financial Crimes Enforcement Network) should not be taken lightly because there are serious consequences if the proper filing requirements are not met.

If you did not receive this email, please contact Pamela at pamela@danetax.com

Tax News for Individual Clients

The IRS increased interest rates for underpayments of estimated tax to 8% per year, starting with payments due in the 4th quarter or 2023 and into 2024.

We have now partnered with Tax Protection Plus to provide audit assistance, identity theft protection and restoration, and a $2,500 tax preparation guarantee for any 2023 individual tax return Dane Tax Solutions, LLC prepares.