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During the last recession, approximately a million more people found themselves in IRS collections each year.  With almost 40 million filing for unemployment and the economic constriction related to COVID, it is expected that the number will go up as …

More Americans Expected to Owe IRS! Read More »

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The IRS states approximately 1,000,000 taxpayers are due a refund and have not filed a return for 2016.  The timeline for filing and obtaining a refund is fast approaching.  To obtain a refund from 2016 the return must be filed …

1 Million people are owed refunds from 2016 Read More »

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To be eligible to receive a COVID-19 stimulus check taxpayers must file 2018 and/or 2019 returns.  If you have not filed those returns contact us immediately so that we can help you receive the stimulus checks.  office@tedsmithcpa.com

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Dear Valued Clients, We believe that it’s important for us to do our part to aid in the response to the recent developments in SW Missouri regarding the coronavirus (COVID-19). To help protect our clients, staff, and community, we will …

Coronavirus Update Read More »

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Last Friday evening the House passed a Coronavirus assistance bill. IT HAS NOT BEEN passed by the Senate so not law yet, but if it doesn’t get changed in the Senate – one of the provisions is for all employers …

House passed Coronavirus assistance bill Read More »

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Introducing the Ted Smith CPA tax prep app!  Now you can do your taxes simply by downloading the app, answering a few questions and taking some pictures of your tax documents.  Simple as that and then a CPA tax professional …

Tax Preparation App Read More »

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Imagine this: you didn’t issue Form 1099s to your contractors.  Now, the IRS is auditing your tax return, and the auditor claims you lose your deductions because you didn’t issue the Form 1099s. Is this correct? No. IRS auditors often …

Not filing your 1099’s could result in loss of the deduction! Read More »

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Ted Smith’s“Real World” Business Strategy Pricing Properly “You are a product of your environment. So choose the environment that will best develop you toward your objective. Analyze your life in terms of its environment. Are the things around you helping …

Pricing: One Strong Year-End Move For Your Business Read More »

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The law requires the IRS to utilize private collection agencies for certain inactive debt.  What does this mean if you are one that gets contacted by a collection agency?  How to you know you are not being scammed?  Those answers …

Taxpayers can find answers to questions about private collection agencies on IRS.gov Read More »

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Vol 10-19 New Individual Coverage HRA Allows You to Reimburse Employees for Health Insurance The new Individual Coverage HRA (ICHRA) lets you help employees with their health care costs without fear of ACA penalties. Starting January 1, 2020, employers can …

Ted’s Tax-Saving Tips Read More »

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