What is cryptocurrency? Cryptocurrency is a form of payment that can be exchanged online for goods and services. Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the good or service that the company provides. Think of them as you would arcade tokens or casino chips. You’ll need to exchange real currency ...
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These days more businesses and individuals are investing their money into cryptocurrency. It is important to realize all cryptocurrency transactions are taxable events that will need to be reported to the internal revenue services IRS. Crypto tax can be difficult to understand on your own, if not properly accounted for you may end up owing taxes that you are not ...
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Each year the IRS releases changes that will affect your individual and commercial taxes. On November 10th, 2021 the following updates were released for next year: Highlights of changes in Revenue Procedure 2021-45: The tax year 2022 adjustments described below generally apply to tax returns filed in 2023. The tax items for tax year 2022 of greatest interest to most ...
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While QuickBooks was created with the intention to be accessible for everyone, initially installation and setup has to be done correctly for future information to be accurate. Let our certified QuickBooks advisors get you set up quickly, effectively and efficiently. All information that is used to set up manual accounting records is also used to set up and install QuickBooks ...
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December 1, 9 AM to 1 PM CT “Taxation - Serving the Realtor/Broker Community” 3 hrs Continuing Education Credit at a beginning tax level that will cover: Bookkeeping requirements for tax deductions Other Tax updates that impact realtors including Office in Home, advertising, meals &     entertainment deductions, Section 121 primary residence exclusion, and Section 1031 exchanges. Release of liens, ...
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King Financial Services utilizes Enrolled Agents for tax payers who desire our services. The EA’s are the best at tax preparation as they continue to study the Tax Laws on as a mandate to maintain their licenses. No other Tax Preparer, whether they are CPAs, Lawyer’s, bookeepers Or general practitioners – have to maintain a continuing education profile for the ...
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Tax preparation companies can help guide you through the most complex tax issues. At King Financial Services, our Enrolled Agents are seasoned tax professionals who work with individuals and small businesses in Euless, TX and beyond to get the best results for their unique situation. Sandra King is the President-Elect over the Texas Society of Enrolled Agents, with decades of ...
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Taxes 2021: If you got an extension in May, your taxes are due From the IRS: WASHINGTON — The Internal Revenue Service today reminds taxpayers about the upcoming October 15 due date to file 2020 tax returns. People who asked for an extension should file on or before the extension deadline to avoid the penalty for filing late. Electronic filing ...
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Are you looking for a tax professional to help you with filing your taxes? Our team is highly experienced navigating even the most complicated tax situations. Whether you are an individual or a small business, we will work with you before the tax year's deadline. What Is A Tax Preparer Tax preparers work for independent or franchised tax preparation services ...
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Are you trying to decide if you would be better off filing your taxes on your own or hiring a tax professional? The more complex your tax situation is, the better it will be to work with an experienced tax expert to help navigate you through the process and ensure, you are not missing out on any critical details. At ...
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Tax planning is a very important part of budgeting and financial success. Listed below are 6 tips provided by Nerd Wallet, in order to prepare yourself financially for tax season and beyond. Tax planning starts with understanding your tax bracket You can’t really plan for the future if you don’t know where you are today. So the first tax planning ...
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Natural disasters can leave in their wake financial, physical, and emotional trauma. These disasters are unavoidable and recognized by the government as severe disadvantages to those they impact. Outlined below is an overview of Texas taxes following a natural disaster: When the governor of Texas or the president of the United States declares a location in Texas to be a ...
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Financial planning is a forever developing process that will help you to prepare for your future. Our team of expert financial advisors can help you to navigate even the most complex situations. Our team works with you every step of the way to ensure you are taking the right steps for yourself and family. Financial planning in 5 steps Start ...
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Are you struggling with tax debt? Are you behind on filing your taxes and are unsure what to do next? Our team can help you with your tax debt relief in Fort Worth, TX. We provide comprehensive financial services to help you gain control of your situation. We understand each situation is unique and work with you every step of ...
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Small business owners stand much to gain by working with bookkeeping and accounting professionals. At King Financial Services, our team has years of experience helping our clients track profits and losses, prepare financial statements, and prepare for tax season. What is Bookkeeping? Simply put, bookkeeping is the recording and tracking of financial transactions for a business or entity. Bookkeeping is ...
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Basics and Beyond helps to outline some of the key factors when it comes to understanding the difference between enrolled agents and CPAs: it’s important to understand the difference between a Certified Public Accountant (CPA) and an Enrolled Agent (EA). While they have a number of things in common, there are some important differences between the two as well. On ...
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What Is An Enrolled Agent? Enrolled Agents are America’s tax experts. According to the IRS: An enrolled agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by either passing a three-part comprehensive IRS test covering individual and business tax returns, or through experience as a former IRS employee. Enrolled agent status is ...
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Being a successful business owner takes more than offering quality services or a high-demand product. There is a lot of behind the scene paperwork and record keeping that must be done in order to keep your business in compliance with state and federal laws. This type of work can be tedious and adds difficulty to companies trying to grown. The ...
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As the nation and world begin to pull out of the global pandemic, many individuals are struggling to file their 2020 taxes by the tax filing deadline. Unfortunately, even though the IRS extended the filing period, this extension ended on May, 15, 2021 with an extra month for Texans. If you were unable to submit your taxes with this extra ...
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Texas Society of Enrolled Agents is hosting their annual convention and you are invited to join! The convention can be attended online or in-person in Houston or North Richlands, TX. This event begins on Monday June 21st and will conclude on Friday June 25th. TxSEA members can receive continuing education (CE) credit for practice management seminars on Thursday and Friday ...
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Do All Businesses Need Bookkeeping? No one decides to start a business because they are passionate about keeping strict financial records, they start a business because they have a product or service they are excited to share with others. Unfortunately, whether keeping close records of all the money you spend or receive is appealing to you or not, it does ...
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Complex tax problems can be overwhelming and difficult to overcome on your own. Working with an expert tax preparer for tax counseling can help you to get resolution even for the most difficult tax problems. Whether you have all of your tax forms or are in need of guidance in order to find the information you are missing to file, ...
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What exactly can enrolled agents do? Enrolled agents are granted unlimited practice rights. This means that Enrolled Agents can provide help to anyone, including individuals, businesses, and other entities with any aspect of their taxes. If you are looking for tax resolutions in Dallas, the team at King Financial Services can help you. Our team wants to make it easy ...
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King Financial Services is here to help you resolve even the most complex of tax issues. We understand how difficult of a position it is to owe the IRS money. Not only do we help you get the most out of your tax returns, we also help you find solutions that fit your specific needs. We are home to two ...
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Many small business owners take on the responsibility of handling their own bookkeeping and payroll. Unfortunately, these finances can be more complex than it may seem. For instance, in order to properly do payroll you will need to keep up to date with payroll laws, tax deposit rules, and filing state and federal required forms on time, or risk being ...
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The Treasury Department and Internal Revenue Service made an announcement earlier this week that: The federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days. "This continues to be a tough time for many ...
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When you are a business owner there are many different roles you must fulfill in order to successfully run your business. While you may excel in many of these roles, some will require special training and more time than busy business owners are able to commit to in order to pull off successfully. This can be especially difficult to navigate ...
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Proper bookkeeping is an essential part of running a successful business. This is because bookkeeping helps to organize your financial information in a way that makes it easy for business owners to adapt their expenses to stay profitable, track important trends, and avoid serious problems. When you make it a point to stay on top of your bookkeeping you also ...
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In response to the brutal winter storms that left many Texans without electricity or water for several days, the IRS has extended the tax deadline statewide. This is the statement they released in response to the storm: Victims of this month's winter storms in Texas will have until June 15, 2021, to file various individual and business tax returns and ...
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According to the IRS: There are many reasons why you may need a copy of your tax return information from a prior year. Transcripts are free and available for the most current tax year after the IRS has processed the return. You can also get them for the past three tax years. If you don’t have your copy, the IRS ...
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Since the first round of stimulus checks rolled out, the IRS has issued over 307 million stimulus relief payments, also known as Economic Impact Payments, which has amounted to more than $413 billion dollars for eligible Americans.  Even with these astounding numbers, there are still many Americans who have yet to receive their first or second Economic Impact Payment. If ...
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What is an Enrolled Agent? According to the IRS.gov: An enrolled agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by either passing a three-part comprehensive IRS test covering individual and business tax returns, or through experience as a former IRS employee. Enrolled agent status is the highest credential the IRS awards ...
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Running a business and maintaining the proper paperwork, recordkeeping, and financial information can be difficult even under the best of circumstances. When you throw a global pandemic into the mix that leads to massive shutdowns for many industries, and painstakingly difficult regulations on others, the complexity is magnified. There are many different relief packages and options available to businesses right ...
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A second round of PPP loans are available to help businesses as the pandemic continues on into 2021. While it is important to do your research to understand how these loans work, for many businesses, these offer tremendous help.  In the months between April and August of last year, the Paycheck Protection Program  distributed $523 billion in forgivable government-backed loans ...
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You may not even be sure how much money you are supposed to be receiving in a stimulus check, or even if you qualify for a stimulus check at all. Unfortunately, not knowing how much money you should or should not be getting from the IRS can lead to complications for you financially. This is because the IRS is issuing ...
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As the pandemic stretches into 2021, we are continuing to see changes made by the Internal Revenue Service in order to accommodate the new systems put into place. As always the financial experts at King Financial Services in Dallas, TX are here to help you navigate your professional and personal taxes in order to protect yourself and your property. If ...
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February 1 is the deadline for employers to issue and file wage statements. Taken from the IRS’s website: Employers must file Form W-2 and other wage statements by Monday, February 1, 2021. This is also the date Form W-2s are due to employees. By law, employers are required to file copies of their Form W-2, Wage and Tax Statement, and ...
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Regardless if you filed your 2019 taxes or not, it is not too early to start planning your 2020 taxes that are due April 15, 2021. There were many tax changes that are making this one of the most drastic differences between filing years in quite some time. The earlier you decide to educate yourself on the changes to tax ...
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What is a PPP Loan? The Paycheck Protection Program (PPP) is a $669-billion business loan program that was developed by by the 2020 US Federal government Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to assist qualifying businesses, self-employed workers, sole proprietors, qualifying nonprofit organizations, and tribal businesses, so that they would be able to continue paying their employees ...
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We are well into the last quarter of 2020, causing many people to begin thinking about the taxes they will need to pay on their income for the year. While taxes are unavoidable no matter who you are, King Financial Services would like to help by providing some key tax tips for the end of the year. Listed below are ...
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According to the IRS’s website: “The deadline to register for an Economic Impact Payment using the Non-Filers tool is extended to November 21, 2020. The IRS urges people who don't typically file a tax return – and haven't received an Economic Impact Payment – to register as quickly as possible using the Non-Filers: Enter Info Here tool on IRS.gov. The ...
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Small businesses already have many odds stacked against them when trying to thrive in a world run by larger corporations. The newer the business is, typically the most difficult the struggle to survive. With the unexpected and financially devastating impact of COVID-19 in our communities, small businesses have had to overcome many additional obstacles this year. While the total impact ...
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This year the IRS sent a stimulus check to every qualifying American that amounted to $1,200, with the addition of $500 for every child. The talk of a second round of stimulus checks has been buzzing around since the summer with no set dates or certainty when they will be decided on, or when they will be distributed. While this ...
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For many small and medium-sized businesses, working with an outside company in order to keep up with bookkeeping and payroll services is the most financially viable option. This is because hiring an in-house employee to track these finances means adding an additional employee to pay the salary of and worry about benefits for. In other cases, business owners may attempt ...
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Business owners are required to take on several different tasks in order to keep their business functioning properly and to continue growing it. This can make it difficult to find the time to keep up with some essential aspects of running your business, such as doing your bookkeeping and payroll services. While larger businesses may find it best to hire ...
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When it comes to running a successful business finding time for your bookkeeping and payroll may be difficult to manage. Many businesses hire an in-house bookkeeper and payroll employee, but this can be expensive and not in the budget for many small and medium-sized businesses. At King Financial Services in Fort Worth, we have the solution! We offer local bookkeeping ...
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According to the IRS: Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business operates to make a profit. What Can I Deduct? To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business ...
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Unfortunately, 2020 has been an extremely trying time for many individuals and business owners across the world. Not only have we been impacted by the spread of this virus, but we also have been exposed to a new way of life that has left many people in an unstable financial position. No one could have planned for the shut-down of ...
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Filing your taxes can be difficult even in the most simple of circumstances, filing your taxes during a global pandemic and shut-down, can be downright overwhelming. Luckily, the team at King Financial Services is here to help you. We understand that for many businesses, the lockdown orders we have seen throughout our communities have made it nearly impossible to keep ...
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Dealing with the stresses of filing your business or personal taxes can be overwhelming even under the best of circumstances. Trying to navigate this task during a pandemic, where your business has been forced to either shut down or quickly adapt to new guidelines can be extremely stressful and confusing. Luckily, the financial experts at King Financial Services in Fort ...
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Around the world people are changing the way they live their lives and interact with the world around them in order to help fight the spread of COVID-19. This pandemic has been difficult for individuals and businesses alike. The government is providing federal disaster loans of up to $2 million have been made available to small businesses and nonprofits significantly ...
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At King Financial Services in Fort Worth, our IRS tax consultants are prepared to help you regardless of how much you currently owe. We have the expert knowledge and experience to find the best solutions for your current tax situation. We can help you navigate the collection process in a way that brings you the most fair prices and installments ...
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When it comes to filing your federal tax return, you will have the option to choose between taking the standard deduction or itemizing your deductions, in order to make the choice that best fits your financial situation. The option you select should be chosen based on which of these strategies have the ability to maximize your tax benefits. At King ...
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Let’s face it, filing taxes can be complicated for families that have no special circumstances surrounding their finances. For military families, filing taxes can be even more difficult to figure out how to file in the most advantageous way. Luckily, there are many resources available to help military personnel and their families access a variety of tax preparation and filing ...
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When it comes to seniors and retirees needing to file their income taxes, the IRS offers resources to help. According to the IRS’s website: “IR-2020-10, January 15, 2020 WASHINGTON — Seniors and retirees whose income is under $69,000 a year should explore IRS Free File for free online tax preparation. Seniors are one of the key constituents for Free File ...
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It is not always simple to figure out which federal income tax bracket your earnings fall into as an individual or married couple. However, you will need to know this information in order to identify the best solutions and strategies to reduce your federal tax bill. It is true that the Tax Cuts and Jobs Act generally reduced tax rates ...
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For those living with a disability, there can be certain obstacles to overcome that make it difficult to complete your tax return. If you are unable to complete your tax return because of a disability, you may be eligible for assistance directly from an IRS office or from the Volunteer Income Tax Assistance or Tax Counseling for the Elderly Programs ...
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Before you have an appointment with a tax professional, you will want to gather all of your important information and organize it the best you can for your meeting. This will help give the tax professional you are working with a clear understanding of your current financial situation. Listed below are some of the steps you should take before your ...
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According to their website, The Small Business Administration, “provides low-interest disaster loans to help businesses and homeowners recover from declared disasters. The SBA provides low-interest disaster loans to help businesses and homeowners recover from declared disasters. Apply for assistance.” Economic Injury Disaster Advance Loan and New Eligibility “In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S ...
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To make it simple, a bookkeeper handles all of the day-to-day record keeping of financial transactions, such as purchases, receipts, sales and payments. It is vital to the success of a company for all of this to be tracked and recorded daily in order to stay on top of your bills, maintain a positive income, and to be prepared for ...
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These days, everything is moving to online platforms for convenience and ease of access. While for the most part we as a society seem to be on board with this technology heavy world, some things we still may feel apprehensive about. Like trusting online platforms with our personal financial information. Many business owners may find themselves wondering, is virtual bookkeeping ...
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What Is Bookkeeping? No one gets into opening a business because they are passionate about doing the busy work that comes along with staying legally compliant and financially organized. Hiring a bookkeeper to help keep your business on top of their finances can go a long way to keeping your business functioning and ready for taxes. Bookkeeping is defined as ...
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When it comes to how much it costs to file your taxes, this will depend on several factors, including if you are filing for yourself or for a business. Generally, the more complex the taxes are or the longer they take to prepare, the more you will pay. If you are looking for a quote to know how much your ...
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Whenever it comes to working with the IRS in order to settle your debts, many can feel overwhelmed even when everything is going according to plan. Now, with the Coronavirus having such a massive impact on the way we live our lives, it may feel even more difficult to obtain the proper records you need in order to file your ...
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Right now, with social distancing and stay at home orders, residents of the United States may be unsure of how they are supposed to go about filing their personal and business taxes. Gathering the proper information, seeking the necessary help, and submitting your taxes may all seem out of reach at this time. However, the good news is that the ...
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Right now, people all around the world, including American citizens, are adjusting their lifestyles and adapting where they can, to help stop the spread of the Covid-19 virus. Not only has this pandemic caused an obvious social and medical impact on all of the countries it has touched, it has also caused a massive hit to our economic world. Many ...
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All around the world, in our country, in our state, and now in our city, we are adjusting to the spread of COVID-19. Not only has this unprecedented worldwide pandemic response affected the health of hundreds of thousands of people, it also has greatly impacted the economic function of our world. Many businesses and individuals are dealing with financial devastation ...
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Do you own a construction company in the Dallas area? Are you looking to get your financial record keeping up to date and in order? If so, King Financial Services can help. Our team of financial professionals help business owners get organized and on top of keeping accurate and current records for their business. Whether you are behind on your ...
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Tax season is around the corner; meaning, if you are behind on your company’s bookkeeping, now is the time to catch up! If you are currently looking to catch up on your company’s bookkeeping, so that you file your business taxes with ease, contact King Financial Services today. Our team of financial and tax experts are here to help you ...
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In-House Bookkeeping Versus Outsourced Many business owners are far too busy running their companies to manage and maintain proper financial bookkeeping. The easiest solution for this obstacle is delegating the task of recording all money matters to an experienced financial professional. For small and medium sized businesses, hiring an in-house bookkeeper can be out of the company’s budget and unnecessary ...
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No one opens a business because they love doing the tedious work that is required to keep proper financial records. When you are focused on running and growing your business it can be easy to let your busy work begin to build up. At King Financial Services we understand that running your business is already a full time job and ...
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Understanding Bookkeeping Bookkeeping is the process in which a business’s financial transactions are recorded and organized. A bookkeeper is the person who keeps all of this information updated and easily accessible for the business owner. In order for businesses to track their progress and conclude if they are profitable, they will want to keep strong records. By staying on top ...
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When it comes to dealing with the IRS and tax debt, no one is immune to the stresses and anxiety that comes along with it. You may feel overwhelmed and unsure where you should begin to tackle your tax debt. Your first reaction may be to take on the dealings with the IRS on your own, which depending on the ...
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Do you owe more in taxes than you can afford to pay? Are you feeling overwhelmed by tax debt and unsure if you will be able to overcome it with your current salary? You may qualify for an offer in compromise. What Is An Offer in Compromise? The Offer in Compromise program is a program that was developed by the ...
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Do you own a small to medium sized business operating in the Dallas, TX area? Are you struggling to find the time between managing your business and employees to keep track of all of your financial records? At King Financial Services, we understand that for many business owners, there are just not enough hours in the day to manage all ...
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Are you seeking help for your personal or business taxes? At King Financial Services, we offer private and commercial clients assistance in all matters dealing with their finances. We understand it can feel overwhelming and complicated trying to navigate cryptic tax laws. This is why we work with our clients to ensure they are getting the most out of their ...
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What Are Bookkeeping Services? In order to properly track the finances of your company, you will need to keep your books up to date. So, what does this mean? What qualifies as bookkeeping, and what benefits are there to keep your books organized? Bookkeeping is defined as the recording, storing, and collecting of all financial transactions for a business, nonprofit ...
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The new year has begun, meaning our earnings have started over. Any income you made in 2019 is over and will need to be reported in 2020. Whether you worked for one company in 2019 or several, each employer you worked for will be responsible for telling you how much you earned from them. Federal law requires all employers to ...
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One of the most common issues that plaques business owners today, is managing to keep up with all of the tasks that go into running their business as well as staying on top of paperwork. If you are one of the thousands of business owners who have struggled to stay on top of keeping diligent and organized records for you ...
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So often, taxpayers wait until right before their tax deadline to start planning out how they will file. The best tip for staying on top of your taxes and filing on time and accurately is to start preparing now. No matter what time of the year it is, it is always a good time to get organized and start making ...
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How Long Do I Have To Keep My Tax Returns? A common question taxpayers have is, how long should I keep my tax return paperwork? For most people, a good rule of thumb is keeping all tax returns and supporting documents for your tax forms for a minimum period of three years following the date you filed your taxes or ...
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If you have recently received notice by the IRS that you are being audited, then you probably already know, this has the potential to cause a lot of anxiety and panic in your life. Whether you are currently experiencing this financial misfortune, or are worried that you have an audit in your near future, you understand how desperate you can ...
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There are many things that lead to people wishing to be self-employed. The benefits of working for yourself include freedom to travel and choose your own schedule, flexibility that allows you to customize your workload to fit your unique needs, and there is no cap on the potential income you can make. However, another aspect that is not as frequently ...
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While there are many reasons that lead to those with an entrepreneurial spirit to want to open their own business, the process can be a bit intimidating. With strong planning, consistent record keeping, and quality services, many businesses find great success. If you are new to owning a business, or are just looking to find tax information for small businesses ...
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Are you on of thousands of business owners who have fallen behind on keeping proper records of your company’s finances? Are you wondering how it is possible for you to catch up on bookkeeping and get your records back in order before this coming tax season? The most important thing to remember is not to panic and not to put ...
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When it comes to the boring parts of running your business, such as record-keeping and staying on top of bookkeeping, it can be easy to let these things build up. Running your business is already a full time job, without all the busy work. Unfortunately, in order to run a successful and legally compliant business, you absolutely must stay on ...
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Fall Bookkeeping Specials in Hurst TX This fall season, King Financial Services is offering a fall special for all new clients in Hurst, TX! If you are currently searching for a professional financial team for your business to help you with paperwork and bookkeeping, sign up with us today. At King Financial Services, we offer all of our new clients ...
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Do you have years of unfiled back taxes that you need to file? Are you overwhelmed by the process and are unsure of where you should start? The team at King Financial Services is here to help you get on track with your finances, and ensure your taxes are filed without error. If you have any questions or concerns about ...
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Whenever we think of the holiday season, one of the last things on our minds are taxes. While this is a traditionally busy time in most people’s lives, the holiday season is a great time to make some final financial moves in order to prepare for your taxes next year. Listed below are some of our favorite tips for how ...
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With tax season around the corner, it is important for individuals and businesses to do everything they can to lower the cost they owe the IRS and maximize their refunds. If you are overwhelmed on where to start, or are unsure how you can maximize your tax refund this year, the financial team at King Financial Services can help you! ...
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2019 is quickly coming to a close, meaning it is already that time of the year to start preparing for tax season. We understand for many individuals and business owners, tax season can be a source of major anxiety and stress. This is why at King Financial Services, we offer our clients the most comprehensive individual and commercial tax services ...
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Whether you are a business or an individual, searching for financial services in Dallas, King Financial Services can help. We specialize in helping our clients stay organized and on top of their financial obligations. Our most popular financial services include payroll, bookkeeping, and tax preparation. If you are a business owner or individual looking for help getting organized and in ...
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Are you searching for a company you can trust to take over your business’s payroll services in Dallas? King Financial Services makes it easier than ever for business owners to focus on the things that really matter- like growing their company. Our team of financial professionals help alleviate the stress that comes along with tracking and managing your company’s payroll ...
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No matter the size of your business, getting your company’s payroll organized and functional can present business owners with their own set of complications and challenges. When it comes to finding the time to run your business as well as keep track of your employees hours, payroll taxes, and worker compensation, things can feel overwhelming even to the most experienced ...
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Fall Bookkeeping Specials in Euless, TX This Fall, King Financial Services is offering a fall special for all new clients in Euless, TX! If you are looking to work with a professional financial team for your business, sign up with us today. We are offering all of our new clients one month of free bookkeeping services, half price for bookkeeping ...
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If you’re a business owner, there is no reason to tell you that running a business comes with endless responsibilities and tasks. Some of these responsibilities and tasks are in order to keep your business thriving, while others, such as financial services are more to keep your company legal and your employees paid. Payroll services in Euless, TX can be ...
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When you are handling personal taxes, that have no extenuating circumstances making them unusual, it may make sense to handle them on your own. However, when you are filing taxes for your business there are many reasons to hire a professional tax preparer to help you. First of all, when you are running a business- there is a lot of ...
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At King Financial Services, we offer the most comprehensive and affordable financial and tax services in Dallas. We work with individuals and businesses to keep their finances accounted for and their taxes properly filed. Working with our team will make it easy to stay organized and on track so you can focus on what is really important in your life ...
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When it comes to running a business, one thing we can all agree on is- there is a lot of behind the scenes efforts required to keep things on track. So often, someone decides to open a business because they have a passion, interest, or area of expertise that they wish to expand on. Something many people do not prepare ...
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What Is A Covered Security? If you have ever heard someone mention a covered security, you may have found yourself wondering what this term refers to. A covered security is the term used to identify a class of securities that receive federally imposed exemptions from state restrictions and regulations. When dealing with stock trading in the United States, you will ...
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Whenever you are referring to matters that deal with taxes, a covered security is any investment security that a broker must report asset’s cost basis to the IRS, as well as to the owner. Included in this are many types of stocks, any fund shares, commodities, notes, or bonds. Any security that falls in the class of federally imposed exemptions ...
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What is QuickBooks? QuickBooks is a software program designed for small and medium sized businesses, to help them manage their sales and expenses, while keeping track of daily transactions. QuickBooks can be used to send invoices to customers, pay bills for the company, generate sales reports for planning, tax filing, and more financial tasks. QuickBooks helps businesses stay on top ...
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When it comes to filing taxes, especially for businesses, there can be lots of stress and confusion. The pressure of wanting to make sure you are doing everything properly, to avoid an audit or misfile can be overwhelming. Last tax season, we saw lots of new tax laws come into effect. This certainly had an impact on how many people ...
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If you have a business of your own then there is a good chance you are familiar with the different types of businesses out there. This includes S Corporations, also referred to as S-Corps. You may have heard in passing, or even when speaking to a tax agent that there are added financial benefits that come with forming an S-Corp ...
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When it comes to seeking advice from a tax professional, it is important to keep in mind that not all tax practitioners can offer the same services to you. When it comes to working with an enrolled agent, you are choosing to work with someone who has gone through extensive training and is at the highest position in their field ...
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Taxpayers needing more time to file their taxes can get an automatic six-month extension from the IRS. For most taxpayers, this year’s tax-filing deadline is today, April 15. Taxpayers who live in Maine or Massachusetts have until April 17, 2019 to file their returns. This is because of the Patriots’ Day holiday on April 15 in those two states, and ...
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If you haven’t filed your return by the due date, including extension you may face a “failure-to-file penalty”.   The IRS will assess a penalty if you Taxes are not filed on the original due date whether you filed an extension unless you have a considerable cause preventing you from paying your taxes timely.      There are variable remedies to your ...
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Every year, Americans are faced with the stressful time of year when they are forced to face their taxes! While no one likes dealing with taxes, they are unavoidable in order to be compliant with the law. This goes for individual citizens as well as corporations. Unfortunately, many independent filers as well as corporations wait until the last minute, or ...
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There are many times that taxpayers cannot file their taxes.  In some cases, they don’t have the money to pay. Other times, much needed paperwork isn’t available when time is of essence.  Regardless, the IRS is serious about Americans filing their returns. There is always a penalty for not filing. However, the severity is determined by how long you wait ...
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Time is nearing for all citizens to file their taxes.  Man of you wait until the last minute, loosing on thousands of dollars in possible deductions and reductions simply because the Tax Preparer doesn’t have enough time.  If you’re looking for Tax Preparation in Forth Worth Texas, King Financial Services is one of Fort Worth’s leading Tax Preparation firms. King ...
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Tax Laws change every year. When you’re faced with whom to turn to for help with your Tax return. It is always a good idea to speak with a reputable Tax preparer. Many taxpayers have limited direction on how to choose their tax preparers. Most go on the notion of big companies who advertise clever commercials to lure taxpayers. If ...
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An enrolled agent (EA) is a Tax Preparer that earned their credentials through a rigorous and extensive training program governed by the United State Treasury. EAs are the only federally licensed tax professionals who have unlimited rights to represent taxpayers before the IRS. This means no matter where you live or where the tax issue derived, if you hire an ...
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As tax time approaches us, it important to understand fact from myth.  Millions of taxpayers can sometimes misconstrue the written information provided by the IRS.  Many Taxpayers start to believe out and out rumors on allowable tax deductions. It’s always best to have a certified tax preparer to take you through what is fact vs. myth.  This way, you will ...
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Many people hire a tax professional when it’s time to file their tax return. If you pay someone to prepare your federal income tax return, the IRS urges you to choose that person wisely.  Choose a tax professional with sound experience in tax preparation. Usually these professionals are Enrolled Agents (EA), Certified Public Accountants (CPA) or Tax Attorneys.  Of the ...
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If you’re looking to hire a professional tax preparer for 2019, hiring an enrolled agent (EA) for taxes instead of a certified public accountant (CPA) can offer you a competitive advantage in managing your tax liability. CPAs, are professionals that are hired to manage tax matters and accounting for businesses.  These matter include tax returns, local and state audits and ...
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Starting and running a small business can be very challenging and very exciting. Most business owner’s start a company to do something they love. That passion can be a great motivator, but it can also be a detractor in maintaining structure and organization. Good recording keeping is essential for the daily operations of a successful small business. Proper record keeping ...
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This is the season for holiday parties! If you have ever taken on the task of throwing one of these celebratory events for your office, then you know how pricey they can be. Just because holiday parties can be expensive, don’t let this discourage you from giving your employees something exciting to look forward to! Additionally, as a business owner, ...
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King Financial Services is the home of the DFW Area, Chapter of the Texas Society of Enrolled Agents, President, Sandra King, and past President, Kent Hopkins! Making us an excellent resource for those who are looking for tax and financial services from an enrolled agent. You may be wondering, why hire an enrolled agent to help you find tax solutions ...
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People go into business with lots of different goals in mind, one goal all businesses share is making money. When it comes to making money it’s not just a simple transaction of trading product or services for cash- a lot of paperwork comes along with running a business. This means bookkeeping, payroll, and of course taxes. At King Financial Services ...
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King Financial Services Inc. offers a variety of financial services that provide solutions for businesses and individuals alike. We provide tax, bookkeeping, and payroll services. With our help you will be able to utilize more of your time doing the things you love; having to keep close records and managing payroll is busy work. If something goes wrong with your ...
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When it come to paid tax professionals, they are not all the same. In fact, enrolled agents (EAs), are the only federally-licensed tax practitioners who not only specialize in taxation but also have unlimited rights when it comes to representing taxpayers before the Internal Revenue Service. Whenever you choose to work with an enrolled agent you can save yourself a ...
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Tax season is just around the corner, meaning it is time for individuals and businesses to start preparing their taxes. It can difficult for those with complex financial situations or busy schedules to make the time to properly file their taxes. This is why King Financial Services works hard to provide affordable, quality tax preparation in North Richland Hills, TX ...
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When it comes to filing your taxes it is important that you work efficiently in order to ensure you are accounting for all expenses. Often times, deductions are missed, and information is improperly filed when individuals decide to take on the task themselves. This can lead to several different types of problems. Not only will it be time consuming, you ...
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If you feel easily overwhelmed when filing your personal or business taxes, you are not alone. In fact, the most frequent reason we see for tax deadlines being missed is that taxpayers feel the process is too complex, or fear they have not kept the necessary records in order to properly file their business or personal taxes. This kind of ...
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Being a business owner comes with a lot of responsibility. Many people choose to open a business that is built around an area of expertise and interest of their own. Unfortunately, one of the negative qualities of owning and operating a business is that there are many additional tasks and needs behind the scenes that must be performed in order ...
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It is no secret, taxes are stressful. They can be a source of anxiety for many of us, but become especially anxiety provoking whenever the IRS gets involved. Whenever you are audited or have an issue filing your taxes, it can become too difficult for someone without specialized tax knowledge to handle on their own. However, there is good news! ...
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It is easy to feel overwhelmed by filing your taxes. The most common reason deadlines are missed and people fall behind on filing their business and personal taxes is because they feel like the process is too complicated and that they do not have the proper records required to accurately file their taxes. They wait until last minute and then ...
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You open your mail just to find out, you have received a notice from the IRS informing you that you are being audited. What now? How long will this stressful process last? Weeks, months, years? While every person’s IRS audit will be different, in general, most audits will last less than a year. There is also good news pertaining to ...
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We have an exciting announcement! This September, Sandra King Financial Services Inc. will be merging with Kent Accounting Systems Inc. to become King Financial Services Inc.! This merger means King Financial Services will now be home of the DFW Area, Chapter of the Texas Society of Enrolled Agents, President, Sandra King, and past President, Kent Hopkins! We will have twice ...
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Keeping up with you business finances can be overwhelming and can come with steep consequences if mismanaged. This is why it is so important to keep organized and to stay on top of your expenses. At King Financial Services we offer excellent bookkeeping services that free you up and let you focus on what really matters, running your business! Below ...
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Taxes seem to fall high on the list when it comes to things that stress us out. A good way to minimize the stresses that are associated with tax season is not procrastinating. Below is a list of ways you can start preparing yourself for tax season now: Make A List Of Your Accounts Whether you are filing personal or ...
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The only thing worse than filing your taxes is having to pay for them! What is amazing is every single year high percentages of Americans file their taxes without including all of the deductions they qualify for! This is one more great reason working with Enrolled Agent, Sandra King can help you save money! She has spent years studying tax ...
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Donating your time, efforts, goods, or even money can be excellent ways to help those who have fallen on hard times, get through them and to the other side of adversity. Sharing, in a charitable way is also, for many, good for the soul. Many Americans choose to give money or property to groups and organizations they believe in. In ...
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If you or someone in your family is a member of the United States Armed Forces, you may be eligible for certain tax benefits. Below are some of the benefits you should be aware of: Some Military Pay and Benefits Are Not Considered Taxable Income: Combat pay is safe from taxes. Many military benefits are also not taxable, such as: ...
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1. Gather All Relevant Information Whenever we have a new client come in with concerns about trust fund penalties, our first step is always the same. We want to gather all relevant information so we have enough facts about your duties and other parties’ duties in order to prove that someone other than you should be held responsible for the ...
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In many businesses, the owner of the company will wear many hats to accommodate the needs of the company and to keep it on track. A part of the equation that can not be ignored in any successful business is maintaining and managing the books. However, the problem is that many business owners already are strapped for time, running their ...
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What is a wage garnishment? A wage garnishment is the term used to describe when a court orders your employer to withhold a determined amount of your pay and send it instead to the person or institution you owe money to, until you have completely paid your debt. Your wages may be garnished if you owe child support, student loans, ...
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What is tax preparation? People often feel overwhelmed when the tax deadline starts to approach. They feel rushed and often procrastinate until the last minute to start gathering their important documentations, receipts, and information. The best way to avoid this last minute stress is to start your tax prep now. While tax season is a short window, ideally we should ...
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There are lots of misconceptions that go around about what happens if you do not pay your taxes on time. Many people have been told that if they do not file their taxes for ten years the taxes they owe magically disappear and they are off the hook entirely. Unfortunately, for those who are years behind on filing their taxes ...
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Our federal government relies on federal taxes in order to finance various public services that are vital to the safety and preservation of our country. Many of us pay our taxes without much thought or question as to where the money is going. However, with changes in tax policies and evolving political leaders it is a good time to inform ...
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Oftentimes, whenever someone has unpaid taxes it starts a terrible cycle where they continue not to file their taxes out of fear of drawing attention to themselves by suddenly showing up on the IRS’s radar with a new filing. Do not fall victim to this trap, instead contact Enrolled Agent, Sandra King to help guide you through this process. Keep ...
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Is your house becoming a storage unit for sensitive paperwork? Are the stacks getting too high to manually shred them on your own? We have the solution for you! This Saturday, May 5th at Euless, TX City Hall we are hosting a free shred event! Bring ALL of your sensitive paperwork with you and watch it get shredded right in ...
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If you missed the deadline to file your 2017 taxes, it is important to realize the longer you wait the worse your situation will become. This is, if you owe the IRS money. If you are due for a tax return, you have until year 2021 to file your 2017 taxes and receive your tax return with no penalties or ...
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Taxes are due this on April 17th of this year! If you have not gotten your taxes filed, time is running up! Do not miss the deadline for your taxes because you are too overwhelmed to breakaway from your busy schedule to sit down and prepare you tax filing! Instead, contact Enrolled Agent, Sandra King! She will alleviate the stress ...
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It can be quite overwhelming for a business owner to take on the task of filing their business tax returns while also trying to manage their company. Regardless of how overwhelming the task of filing your tax returns may be, it is crucial to take care of this for your company. There are several benefits that will work to your ...
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Offer In Compromise Explored What happens in the event someone cannot pay the full sum of their taxes? This is something not many people think about. There are a few different options, such as just not paying the amount you owe and allowing your debt to continue to multiply or requesting a deadline extension to pay. However, neither of these ...
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If you know you are going to miss the deadline to file your taxes, it is important to file an extension in order to avoid penalties associated with late taxes. Why File For An Extension Whenever you file an extension you are automatically granted a later date to file your taxes, protecting you from penalties that can quickly add up ...
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One of the most notable and important changes that our country is facing under the tax reform is how taxes are being handled for businesses. Different than the changes to individual taxes, that are less permanent and somewhat fragmented, the changes we are seeing to how business taxes will be handled seem to be more permanent and fully fleshed out ...
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An enrolled agent's services can be very helpful when it comes to handling your tax issues, especially those related to the IRS. There are other options available when it comes to hiring someone to handle your taxes, such as hiring a CPA or tax attorney. Like tax attorneys and CPAs, enrolled agents are tax professionals who have become licensed to ...
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Lots of people wonder, what it is takes to makes someone qualified to file other people’s taxes. Does the IRS even monitor who it is that becomes an enrolled agent or hold them against a standard of excellence you can trust with the highly sensitive and important information that is required to properly file your personal or business taxes? The ...
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During the spring of every year and very near April 15 millions of Americans file their income tax. Some file begrudgingly begging the question; “why tax filing is important”. The United States government requires all individuals who earn a specific amount of income file Tax Returns annually. Failure to do so could result in penalties. In the most negligible and ...
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Filing a tax return is a United States Government requirement of all working Adults of a certain age and income. It is used to measure your income for taxes that are to be paid to the government. This taxation is also termed as Federal income tax”. The Internal Revenue Service (IRS), taxing agency for the US government determines who has ...
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New Tax Bill Standard Deductions For those that opt to take the standard deduction on their taxes rather than itemized deductions, the Tax Cuts and Jobs Act (H.R 1) increases the amount you can deduct until 2025, when the provision is set to expire. The amount goes from $6,350 to $12,000 for single filers and from $12,700 to $24,000 for ...
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Are you confused over the new tax laws? Afraid you might make a mistake while filing your personal or business taxes this year? Or maybe you are just interested in learning more, no matter what the case we have the solution! Sandra King welcomes you to join her at Texas Star Conference Center on Wednesday, February 7, 2018 between 7:00 ...
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There are advantages and disadvantages to incorporation. The decision to incorporate depends primarily on your net income and your level of exposure in the event of a law suit. As a sole-proprietor, you are the business. What ever happens to the business happens to you and your family as well. If you were to be sued, your personal assets along ...
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