ShaTonya Thomas’ Post

Another grateful student of Dr. Rosie, Carlexus, is thankful for her invaluable contributions to her tax journey. With over two years at Thomas Financial, Carlexus has received exceptional training, motivation, and guidance, empowering her to launch her own company. Cheers to new beginnings and the support that makes it all possible! 🥂💸 #SuccessStory #Testimonials #ThomasFinancial #DrRosieThomas #TaxCoach #Taxpreparer #TaxBusiness #TaxCourses

On Interest and Penalties for Tax Extensions If you file a tax extension and owe money, you will still be charged interest and a penalty on the unpaid amount. The extension allows you more time to file your tax return, but it does not extend the time you have to pay any taxes due. The IRS charges interest on any unpaid tax from the original due date of the return until the tax is paid in full. The interest rate is determined quarterly and is the federal short-term rate plus 3%, currently 8% per year, compounded daily. The penalty for late payment is 0.5% of the unpaid taxes for each month or part of a month the tax is not paid, up to a maximum of 25%. If you extended your taxes as of April 15 and owe $10,000, and pay on October 15, you would owe approximately $10,708.81, including interest and penalties. $10,000 + $408.81 Interest + $300 Penalty = $10,708.81 If you owe $10,000 and pay after 2 months, you would owe approximately $10,234.21, including interest and penalties. $10,000 + $134.21 Interest + 100 Penalty = $10,234.21 To minimize interest and penalties, it's better to pay as much of your estimated tax liability as possible by the original due date, even if you filed an extension. The difference between two and six months on $10,000 = $474.60 While the extension gives you more time to file your paperwork, it does not provide extra time to pay any taxes owed. George Hartzman Hartzman Tax & Fiduciary  Contrarian Financial Consulting & Tax Preparation 30 Years Experience; Merrill Lynch & Wells Fargo Alumnus  Investment, College & Estate Planning Debt, Property & Business Consigliere Advisory Healthcare, Home, Auto & Business Assurance Consulting Greensboro, NC [email protected] hartzman.blogspot.com A fiduciary relationship requires an advisor to act in a client's best interest #TaxTwitter  #taxcut #incometax #tax #taxseason #accounting #AICPA #IRS #CPA #FinCEN  #smallbusinesses

Recently, I had the privilege of addressing a group of bright young minds on a topic that often induces anxiety: filing their first income tax return (ITR). As someone who once felt the same apprehension, I understand the fear that can surround this seemingly complex process. 🔍 Key Takeaways: Common Sense Over Rocket Science: Filing your ITR isn’t rocket science—it’s just common sense. Understanding the basics, organizing your financial information, and following the guidelines can make the process straightforward. Facing the Fear: We all remember our first time—whether it’s riding a bike or filing taxes. Acknowledging that fear is normal and seeking guidance can empower us to overcome it. Gratitude: A heartfelt thank you to the entire team at Rotaract Club of Delhi South Central for inviting me to share insights on this crucial aspect of adulting. It’s essential that we equip our youth with practical knowledge that will serve them well throughout their lives. 🙌 Let’s continue demystifying financial matters and supporting each other on this journey! 🚀 #TaxReturns #FinancialLiteracy #YouthEmpowerment #Adulting

Now that #studentathletes can profit from name, image and likeness (NIL) deals, it's important for them to master basic #estateplanning to protect themselves legally and financially. In this alert, #PrivateWealth Services attorneys Jared Dodd and Ken Jefferson, Esq. Holland & Knight review some of the key issues student-athletes face when it comes to #NIL, #healthcare, #tax planning and more. https://bit.ly/3XwGuiL

What’s the BEST Way to Reward People in Your Family Business? Should you pay bonuses or dividends in your family business? Being generous, fair, and playing by the rules is harder than it looks. A good CPA or tax attorney will come in handy to keep things above board. After that, however, generosity and fairness can be a balancing act especially when family is involved. It all works fine if you have an equal number of kids who make equal contributions. John’s two daughters don’t work in the business, so he makes them minority owners. When he sells the business, everybody wins. Some people have that … but most don’t. Learn more on how to reward people in your family business at https://ow.ly/NEOe50RCX51 #TennesseeCenterforFamilyBusiness #familybusiness #healthyrelationships

What’s the BEST Way to Reward People in Your Family Business? Should you pay bonuses or dividends in your family business? Being generous, fair, and playing by the rules is harder than it looks. A good CPA or tax attorney will come in handy to keep things above board. After that, however, generosity and fairness can be a balancing act especially when family is involved. It all works fine if you have an equal number of kids who make equal contributions. John’s two daughters don’t work in the business, so he makes them minority owners. When he sells the business, everybody wins. Some people have that … but most don’t. Learn more on how to reward people in your family business at https://ow.ly/kLuB50RCX52 #TennesseeCenterforFamilyBusiness #familybusiness #healthyrelationships

Time Is Running Out: Plan Now for Your Family's Future

Learn it & Understand so you save yourself $500 💰 #MatthewsandNulty #NJTaxes #NJAccountingFirm

Thinking ahead to your family’s future without you may feel overwhelming, but it can be a positive exercise. Read more about this here: https://lnkd.in/erb6g_CF #probate #futureplanning #probatesolicitors #will #willsolicitor

🌟 CELEBRATING CAMERON'S LEGACY 🌟 | In Loving Memory Of Cameron Lowrey March is dedicated to honoring the vibrant spirit of Cameron Lowrey, a soul who cherished NASCAR, photography, Japanese culture, and video games. His Friday evenings were filled with laughter, pizza, and game nights shared with friends and family. Cameron's infectious personality, witty charm, half-smirk smile, and unique hairstyle endeared him to everyone he met. Tragically, Cameron Lowrey left us at the tender age of 23 on September 21, 2021. For 16 days, he fought valiantly in the ICU, leaving friends and family feeling powerless. As his loved ones grieved, ATAX became a ray of hope when Teresa, Cameron's mother, reached out for assistance with his W-2 Form. Overwhelmed with grief, she couldn't summon the strength to open, let alone file, the form. Responding to Teresa's plea, ATAX decided to give back to the community. March is now declared "Cameron's Month," a tribute to a life lost and a commitment to assisting others coping with the devastating impact of any loss of a loved one. ATAX offices nationwide are honoring Cameron by offering NO-COST tax filing of the final return for loved ones who passed away throughout the month of March. 🕊️🌹 Find Your Nearest ATAX Office: www.ataxfranchise.com #HonoringCameron #ATAXCares #CommunitySupport *Terms and conditions apply. Offer valid for basic personal income taxes. Must file by March 31, 2024. Includes one free state and one free federal tax filing. Additional fees may apply for complicated tax situations. If services are added, fees will be adjusted accordingly. Offer cannot be combined with other promotions. A third-party processing fee may apply. ATAX reserves the right to modify or terminate this offer at any time.