Posts by Michael A. Cook LLC

There is a common misconception when it comes to investing. Some beginners think you only get taxed when you withdraw the money from your Investment account (for example, your Robinhood account) to your bank. This is a terrible mistake that can come back to bite you. Every time you sell a stock, ETF, or cryptocurrency,…

Do you own a small S-Corporation or a Partnership? The business tax filing DEADLINE is March 15th. However, if you need help and it is too late for you to file your business tax return on time, I can quickly file an extension for you today and get you plenty of time to get your…

All-year-round Tax Firm We never closed a day for COVID Because we always work 100% virtual No contact – No leaving home Confidential, secure, and safe service Reasonable rates Tax problems? We can help! Call and ask for Michael.

Estimated tax penalties apply when you underpay your taxes. Taxpayers who paid too little tax during 2021 can still avoid a surprise tax-time bill and possible penalty by making a quarterly estimated tax payment now, directly to the Internal Revenue Service. The deadline for making a payment for the fourth quarter of 2021 is Tuesday,…

TAX PROBLEMS? Let’s get you up to date with the IRS. Let’s get those un-filed tax returns out of the way. And, those scary notices from the IRS taken care of before we have bigger problems. Perhaps you need a simple Installment Agreement to make paying the IRS easier? Perhaps you still have questions bothering…

Simple Plan to Move Your Small Business Forward: Provide a quality product to your clients as efficiently as possible, and with a consistently branded message. And, speaking about clients, the most important benefits I find from working with a client throughout the year are multiple touchpoints and making proactive communication comfortable. It is not just…

About Michael From helping hard-working folks, families, and struggling small businesses and self-employed friends to navigate the tricky IRS and State rules and penalties…to being the person helping folks make better money decisions, realize their financial dreams, simplify their financial data into solutions that not only make sense but produce much better results. This is…

When you think about traditional tax planning, you usually start with a tax prep mindset, then follow up with a reactive search for tax deductions and meet with your Tax Pro once a year. However, with tax advisory, you start with understanding your goals, identifying proactive strategies that power prosperity, and meeting with your Tax…

NYS WORKERS COMPENSATION INSURANCE REQUIREMENTS: (All employers need to know the facts and consequences ) New York State Updated November 17, 2020 Employers operating in New York State are required to have workers’ compensation coverage for their employees, with limited exceptions. Employers are required to obtain and keep in effect workers’ compensation coverage for all…

IRS Tax Tip 2021-133 for Sept 9, 2021 Here are some things taxpayers should do when choosing a tax return preparer Check the IRS Directory of Federal Tax Return Preparers. This searchable and sortable public directory helps taxpayers find a tax return preparer with specific qualifications. Check the preparer’s history with the Better Business Bureau. Taxpayers should check…