NumberSquad

NumberSquad (www.NumberSquad.com)
All-inclusive Financial Package Designed for the
Self-Employed

NumberSquad (www.NumberSquad.com) is a one-stop accounting solution for small businesses, tech startups, professional service companies and small non-profits to streamline their bookkeeping, payroll, and tax prep at a rate they can afford.

IRS Sets Exciting Stage for 2024 Tax Filing Season with Innovative Improvements – Taxnews Numbersquad 01/10/2024

πŸ“… Tax Season 2024 is around the corner. πŸ’Ό We have some great enhancements for our self-employed professionals, including streamlined in-person services, an advanced "Where's My Refund?" tool, and Direct File, which provides a VIP free-filing experience with the IRS. πŸ—“οΈ Join us for a focused discussion on optimizing our tax approach on January 29th. πŸ’°

IRS Sets Exciting Stage for 2024 Tax Filing Season with Innovative Improvements – Taxnews Numbersquad In a significant announcement, the Internal Revenue Service (IRS) has officially declared January 29, 2024, as the kickoff date for the much-anticipated 2024 tax season. As the agency gears up to process an estimated 128.7 million individual tax returns by the April 15 deadline, taxpayers are in for...

IRS Grants Reprieve: Auto Dealers Get Extra Time for Tax Credit Submissions – Taxnews Numbersquad 01/09/2024

As a self-employed individual, you have the power to extend clean vehicle tax credits and elevate your tax strategies to new heights. Let's collaborate and accelerate your journey towards financial success! πŸ’ΌπŸš—πŸ’°

IRS Grants Reprieve: Auto Dealers Get Extra Time for Tax Credit Submissions – Taxnews Numbersquad In a strategic move to alleviate the mounting pressures on auto dealers and sellers immersed in the burgeoning market of environmentally sustainable vehicles, the Internal Revenue Service (IRS) has just announced a significant extension for submitting time-of-sale reports. This pivotal step is instr...

Tax Season 2024: IRS Reverts to April 15 Deadline After Five Years of Altered Schedules – Taxnews Numbersquad 01/08/2024

Strategies for Success in Tax Season 2024

πŸ“… April 15 - Save the Date: Our Tax Season climax awaits.
πŸŽ‰ Early Bird Advantage: Be ahead - IRS may start the tax rhythm late Jan.
πŸ’» Tech-Savvy Tactics: Dive into IRS Free File for seamless efficiency.
🌐 IL Insight: MyTax Illinois for a breeze in filing.
πŸš€ Share Your Triumphs: Connect, share, inspire! Let's elevate together. πŸ’ΌπŸ’¬

Tax Season 2024: IRS Reverts to April 15 Deadline After Five Years of Altered Schedules – Taxnews Numbersquad In a significant departure from the last half decade’s trend, the Internal Revenue Service (IRS) has announced the reinstatement of the traditional April 15 deadline for income tax returns. This shift follows a series of altered schedules prompted by the global challenges of the COVID-19 pandemic,...

01/05/2024

Ready or not, tax season is here!

Make sure you're in the financial driver's seat – W-2s and 1099-NECs should be in your hands by January 31st. ⏰

Got questions or need assistance? We've got your back!

πŸ“ž (703) 865 6161
πŸ”— https://numbersquad.com/

Let's navigate this tax season together! πŸš€

Taxing Times: States Unite to Tame Property Tax Surge as Home Values Skyrocket – Taxnews Numbersquad 01/05/2024

Self-employed individuals, Representative Jason Monks announced πŸ’°πŸ’― million property tax relief in Idaho. Join the conversation on to discuss how this impacts your business! πŸ—£οΈπŸ’¬

Taxing Times: States Unite to Tame Property Tax Surge as Home Values Skyrocket – Taxnews Numbersquad In an epoch marked by the ceaseless pursuit of the American Dream, the aspiration of homeownership is entangled in a complex narrative of triumphs and tribulations. Across the vast expanse of the United States, the echoes of this narrative reverberate as states grapple with the tumultuous aftermath....

Navigating 2023 Tax Season: Expert Tips and Challenges for CPA Professionals – Taxnews Numbersquad 01/03/2024

Tax Wins '23: Self-Employed Style! πŸ’ΌπŸ’°
🌟 Quick tax tips for our self-employed champs:
πŸ’° Fiscal Swagger: Elevate your financial game with finesse!
🧐 Tax Hacks: Decode tax complexities – simplify for success!
🎭 Easy Deductions: Lights, camera, deductions – keep it smooth!
β˜• Wisdom Sips: Mark spills tax insights – sip and conquer!
🍽️ Smart Feasting: 50% Rule Reality Check – dine with financial savvy
Ready for tax triumph? Drop a πŸ’Ό and let's conquer taxes, self-employed style! πŸš€πŸ’Έ

Navigating 2023 Tax Season: Expert Tips and Challenges for CPA Professionals – Taxnews Numbersquad As the 2023 tax season looms, Certified Public Accountants (CPAs) are gearing up to navigate various technical challenges and management considerations. While this year may not bring the seismic shifts seen in recent tax seasons, practitioners must stay vigilant to address changes in tax laws and op...

New Guides and Workshop Aid Nonprofits and Credit Unions in Tax Compliance – Taxnews Numbersquad 12/29/2023

🌐 Mastering Tax Compliance: A Guide for Self-Employed Professionals
Embark on a journey to decode the intricacies of self-employed tax management with comprehensive insights into unrelated business income and credit union exemptions. Let's navigate this financial terrain collectively and transform complex jargon into a strategic advantage! πŸ’ͺπŸ’Έ

New Guides and Workshop Aid Nonprofits and Credit Unions in Tax Compliance – Taxnews Numbersquad To provide crucial support to nonprofits navigating the labyrinth of tax regulations, the Internal Revenue Service’s Exempt Organizations and Government Entities unit has unveiled two extensive technical guides. These guides, tailored for tax-exempt groups and credit unions, serve as valuable reso...

12/28/2023

1️⃣ Schedule C Perfection: Triple-check that Schedule C is your BFF! Make sure every dollar earned, and every deduction claimed is accurately recorded.

2️⃣ Self-Employment Tax Check: Don't forget to calculate that self-employment tax! It's a crucial part of the process, ensuring you're squared away with your contributions.

3️⃣ Estimates Matter: Do you diligently make those estimated tax payments throughout the year? Make sure they're all accounted for. No one likes surprises, especially when it comes to taxes!

πŸ’¬ Have questions?
Please feel free to reach out.

πŸ“ž (703) 865 6161
πŸ”— https://numbersquad.com/

Unprecedented ERC Redemption Program Offers Businesses a Financial Clean Slate – Taxnews Numbersquad 12/28/2023

Financial Freedom Alert! πŸš€ Dive into the ERC Redemption Program for Self-Employed Champs! πŸ’°
Exciting news for all the self-employed hustlers out there! 🌟 The ERC Redemption Program is live, offering a chance to reshape your financial narrative. Repay 80%, keep 20%, and bid adieu to tax uncertainties. πŸŽ‰ Let's explore the details together and embark on this journey to financial empowerment! πŸ’ͺπŸ’Έ

Unprecedented ERC Redemption Program Offers Businesses a Financial Clean Slate – Taxnews Numbersquad In a seismic move to address the murky terrain of questionable Employee Retention Credit (ERC) claims, the Internal Revenue Service (IRS) has introduced a transformative Voluntary Disclosure Program. This groundbreaking initiative invites qualifying businesses to partake in a financial redemption, c...

FinCEN Releases Final Rule Empowering Anti-Money Laundering Efforts Through Beneficial Ownership Information Access – Taxnews Numbersquad 12/27/2023

🚨 Notice: FinCEN's BOI Rule πŸ“…
Effective Jan 1, 2024, FinCEN enforces the BOI rule for self-employed professionals.


Read more :

FinCEN Releases Final Rule Empowering Anti-Money Laundering Efforts Through Beneficial Ownership Information Access – Taxnews Numbersquad In a landmark development, the Financial Crimes Enforcement Network (FinCEN) has unveiled the final rule on Beneficial Ownership Information (BOI) access, as mandated by the Corporate Transparency Act. Starting January 1, 2024, companies operating in or registered with the United States must meticul...

AICPA Takes the Lead in Shaping Tax Policy: 2023’s Year of Advocacy Triumphs – Taxnews Numbersquad 12/26/2023

AICPA Tax Update 2023: Key Insights for Self-Employed Pros! πŸš€
Stay in the know with AICPA:
🌟 ERC, Threshold, Signature, SAFE Act!



Follow link for crucial updates! πŸ‘‡

AICPA Takes the Lead in Shaping Tax Policy: 2023’s Year of Advocacy Triumphs – Taxnews Numbersquad In a year characterized by political maneuvering and the looming specter of the 2024 elections, the American Institute of Certified Public Accountants (AICPA) emerged as a formidable force in influencing and shaping federal tax policies. While federal tax bills flooded both chambers of Congress, the...

Revolutionizing Clean Transportation: Safe Harbor Unveiled for Commercial Clean Vehicles in 2024 – Taxnews Numbersquad 12/25/2023

IRS Announces Tax Credits for Self-Employed Individuals πŸš—πŸ’Ό"

πŸ“£ Exciting News: The IRS has introduced tax credits for vehicles under 14,000 pounds. Eligible self-employed individuals can now benefit from credits up to $7,500. For heavier vehicles, the maximum credit extends to $40,000. Stay informed and optimize these tax incentives for financial success. 🌐

Revolutionizing Clean Transportation: Safe Harbor Unveiled for Commercial Clean Vehicles in 2024 – Taxnews Numbersquad In a bold leap toward fostering sustainable transportation practices, a paradigm-shifting announcement has emerged for the commercial clean vehicle sector in the coming year. This transformative development introduces a comprehensive safe harbor framework strategically designed to bolster the adopti...

12/22/2023

Santa double-checked his list, but have you thoroughly reviewed your W-2s and 1099s? πŸ“πŸŽ… Make your list, check it twice, and let's make those deductions shine! πŸ“ˆβœ¨

May your deductions be merry and vibrant, and may your tax season be full of delight! πŸŒˆπŸ“† Wishing you a cheerful Taxmas! πŸŽ„πŸŽ

Breaking News: IRS Unveils $1 Billion Penalty Relief and Resumes Collection Notices – Taxnews Numbersquad 12/22/2023

πŸ‡ΊπŸ‡ΈπŸ’Ό "IRS Announcement: $1 Billion Tax Relief Allocated for Self-Employed Individuals"
We bring important news to our Facebook community. The IRS has recently instituted a significant relief measure, allocating $1 billion for penalty relief for approximately 5 million self-employed individuals. Effective immediately, failure-to-pay penalties have been waived, resulting in an estimated $206 per return in savings.

πŸŒŸπŸ’Ό
For comprehensive information, please refer to : πŸ”—πŸ‘‡

Breaking News: IRS Unveils $1 Billion Penalty Relief and Resumes Collection Notices – Taxnews Numbersquad In a groundbreaking move, the Internal Revenue Service (IRS) declared a whopping $1 billion penalty relief for nearly 5 million taxpayers who missed automated collection reminders during the tumultuous COVID-19 pandemic. This unprecedented measure aims to cushion the financial blow for those who, du...

Transformative Evolution in Tax Services: Business Tax Account Access Expands with New Features – Taxnews Numbersquad 12/20/2023

Tax Revolution: IRS Paves the Way for Self-Employed Success! 🌐

Breaking news! The IRS has initiated a digital revolution tailored for self-employed individuals, ushering in a new era of efficiency. πŸš€πŸ’»
For further information, kindly refer to our official website πŸ”—πŸ‘‡

Transformative Evolution in Tax Services: Business Tax Account Access Expands with New Features – Taxnews Numbersquad In a groundbreaking move poised to reshape the landscape of tax services, the Internal Revenue Service (IRS) has embarked on a strategic expansion, broadening access to its online business tax accounts. This landmark development now extends the sphere of convenience to encompass individual partners....

Tax Shift Alert: Corporate Minimums Overhauled, Eyes on 2024 Changes! – Taxnews Numbersquad 12/19/2023

Tax Talk Alert: Self-Employed Edition! πŸš€

Big news in the tax universe – the IRS just unleashed a 15% tax twist for the big shots, and guess what? If you're self-employed, hustling through global dividends, you're part of the plot! πŸŒπŸ’°

2024 is bringing a sequel with proposed regulations, turning this tax saga into a real page-turner. Let's chat! Share your thoughts below, and let's make sense of this self-employed tax journey together! πŸ’¬βœ¨

Tax Shift Alert: Corporate Minimums Overhauled, Eyes on 2024 Changes! – Taxnews Numbersquad In a significant development, the Internal Revenue Service (IRS) released new interim guidance on Friday addressing the corporate alternative minimum tax (AMT). Notice 2024-10 outlines key rules, with expectations that forthcoming proposed regulations in 2024 will align with this guidance. The focus...

Tax Breaks in Overdrive: 2024 Mileage Rates Hit the Fast Lane! – Taxnews Numbersquad 12/18/2023

The 2024 Tax Turbo is here for our self-employed champs!πŸ’Έ

πŸš— "Turbo Mileage Rates: Zip through tax savings on business trips or road escapades!
πŸ’Έ "30 Cents/Mile Dash: Turn your miles into dollars with a 30 cents/mile depreciation rate!
πŸ›£οΈ "Craft Your Drive, Craft Your Rules: Customize your deductions on Facebook!
πŸ’Ό "Employer Boost: $62,000 FAVR Plan Upgrade – the golden ticket for bosses!
πŸŽ‰ "Facebook VIP Pass: $62,000 Finale – your ticket to a tax-saving spectacle!

πŸš€
Zoom into 2024 tax brilliance! 🌟 πŸ”—

Tax Breaks in Overdrive: 2024 Mileage Rates Hit the Fast Lane! – Taxnews Numbersquad Hold on to your steering wheels, as the Internal Revenue Service (IRS) kicks off the new year with a horsepower boost for taxpayers and businesses alike. In a high-octane move, the IRS has cranked up the standard mileage rates for 2024, fueling excitement and financial possibilities. As of January 1...

Challenges Persist for Taxing the Wealthy: A Global Struggle for Tax Justice – Taxnews Numbersquad 12/15/2023

Tax Insights for Self-Employed Pros πŸ“ŠπŸ’Ό

In the self-employed arena, a $15k tax drama unfolds. Corporations strategize while billionaires contribute 0 to 0.5 percent on their wealth. Stay tuned – our Facebook narrative is in for a professional twist. πŸ”„

Challenges Persist for Taxing the Wealthy: A Global Struggle for Tax Justice – Taxnews Numbersquad In a recent legal showdown at the US Supreme Court, the debate over tax justice has taken center stage, echoing Justice Oliver Wendall Holmes’ timeless assertion that β€œtaxes are what you pay for a civilized society.” The case in question, Moore vs United States, delves into the legality of the...

12/14/2023

Hey Business Community! πŸš€

Navigating the ins and outs of the Employee Retention Credit (ERC) is vital for financial resilience, especially in these challenging times. 🌐 However, the recent surge in ERC claims has revealed improper filings, prompting a closer look from the IRS. πŸ”β 

Many businesses got caught up with ERC millsβ€”unethical advisors pushing exaggerated claims with hefty upfront fees. πŸ’Έβ 

This issue gained so much attention that ERC mills made it onto the IRS's Dirty Dozen list of tax scams. Despite awareness efforts, the IRS had to pause new claim processing in September 2023 due to the influx of fraudulent or inaccurately filed claims. πŸ€·β€β™€οΈβ 

As we prepare for the 2024 tax season, brace yourselves for increased scrutiny. Top tip: Consult a reliable tax consultant to ensure compliance and avoid pitfalls. ✨⁠

World Health Organization Urges Nations to Implement Higher Taxes on Alcohol and Sugary Drinks to Safeguard Global Health – Taxnews Numbersquad 12/13/2023

Facebook Finance Discourse: Enhancing Your Tax Approach

πŸ’Ό WHO suggests aligning taxes with sugary sips for a nuanced financial narrative. πŸ’ΈπŸΉ Envision Facebook as a carouselβ€”taxes orchestrating a strategic dance. Engage in the conversation; each comment contributes to our collective financial wisdom.

World Health Organization Urges Nations to Implement Higher Taxes on Alcohol and Sugary Drinks to Safeguard Global Health – Taxnews Numbersquad In a groundbreaking move, the World Health Organization (WHO) is sounding the alarm on the world’s two notorious villains: alcohol and sugary drinks. The prescription? Hit them where it hurtsβ€”wallets! The WHO is fervently urging nations to crank up the taxes on these guilty pleasures, declaring ...

Taxpayers and Government Clash Over Sec. 965 Transition Tax Consequences – Taxnews Numbersquad 12/12/2023

Tax Tales Unveiled: Self-Employed Edition - Let's Dive In! πŸš€

πŸŒπŸ’¬ Ready for a tax adventure? Join the convo with self-employed trailblazers Charles and Katherine Moore in "Tax Tales Unveiled: Self-Employed Edition." It's a financial rollercoaster, and we want YOU on board! πŸ›οΈπŸ’Έ
Their game-changing move?
Thrusting income realization into the spotlight before the tax drama unfolds. 🌟
πŸ’­ Drop your thoughts in the comments and let's unravel the tax saga together! πŸš€πŸ’‘


Read more :

Taxpayers and Government Clash Over Sec. 965 Transition Tax Consequences – Taxnews Numbersquad The Supreme Court session on the Sec. 965 transition tax reveals a clash between taxpayers and the government. Charles and Katherine Moore argue its unconstitutionality, potentially impacting up to $340 billion in tax revenue. Justices Scrutinize Income Realization in Sec. 965 Transition Tax Case Su...

Photos from NumberSquad's post 12/08/2023

πŸ‘©β€πŸ’» As freelancers, entrepreneurs, and independent contractors, we know the hustle doesn't include a traditional employer to handle our taxes. That's why staying on top of our estimated tax payments is crucial. πŸ’Ό

To avoid surprises during tax season, paying these taxes quarterly is important. πŸ“Š

βœ… What You Need to Do:

- Review your earnings for the fourth quarter of 2023.
- Calculate your estimated tax payment. (Don't forget to account for income and self-employment taxes!)
- Submit your payment by January 15, 2024.

πŸ’‘ Pro Tip: Keep accurate yearly records of your income and expenses. It makes estimating your taxes more straightforward and more precise!

πŸ’¬ Need more tips or have questions?
Please feel free to reach out.

πŸ“ž (703) 865 6161
πŸ”— https://numbersquad.com/

11/30/2023

Year-End Tax Planning!

Why is this important? πŸ€”

- Discover potential tax deductions you might miss otherwise.
- Strategize for a lower tax bill.
- Set yourself up for financial success in the upcoming year.

Team up with NumberSquad for Expert Guidance! ✨

πŸ“ž (703) 865 6161
πŸ”— https://numbersquad.com/

11/21/2023

How does standard deduction work if you have W2 Wages and 1099 income?

🧾 W2 Wages: If you're a proud W2 earner, your employer likely withholds taxes throughout the year. The standard deduction is a flat amount the IRS allows you to subtract from your income before calculating taxes. It's like a golden ticket to keep more of your hard-earned cash! πŸ’Έ

πŸ’Ό 1099 Income: If you're rocking the 1099 hustle, you're in control of your tax destiny! However, the standard deduction still applies. You'll report your 1099 earnings on your tax return, but fear notβ€” the standard deduction is there to lighten the tax load. 🌈

🀯 Combo Mode: The cool part? You can mix and match! If you're a W2 warrior during the day and a 1099 superhero by night, the standard deduction is your trusty sidekick for both income streams. Just make sure to report all that 1099 moolah come tax time! πŸ¦Έβ€β™‚οΈπŸ’Ό

πŸ“Š Maximize Your Moolah: Pro tipβ€”stay savvy and consider itemizing deductions if you have significant eligible expenses. It's like unlocking bonus levels for your tax savings! πŸš€

10/27/2023

For all freelancers and self-employed individuals, understanding tax write-offs is crucial.

Think of them as your secret weapon, giving you a 15-40% discount on all the expenses you incurred to perform your work.

In essence, tax write-offs are expenses you can deduct from your taxable income, reducing the amount of income subject to taxation.

10/20/2023

Say goodbye to 1099 tax headaches and hello to stress-free savings!

No more endless receipts or quarterly spreadsheet battles.

Let NumberSquad handle the heavy lifting while you sit back and watch those savings grow!

Join the revolution today! πŸš€

Unlocking Financial Independence: A Guide for Self-Employed Individuals and Small Business Owners 10/05/2023

πŸš€ Unlock Financial Independence as a Self-Employed Pro!

Discover crucial habits and tax-saving tips for financial stability. From separate accounts to retirement plans, this guide empowers your journey. πŸ’ΌπŸ’Έ

Explore options like Solo 401k, SEP IRA, and real estate investment for a secure future. Don't retire; reinvent! πŸ‘πŸ’‘

Unlocking Financial Independence: A Guide for Self-Employed Individuals and Small Business Owners Embracing the entrepreneurial spirit and venturing into self-employment is a growing trend across the United States. With over 30 million small businesses dotting the landscape, a remarkable 22 million are operated by self-employed individuals, charting their course without additional employees.…

09/28/2023

Considering remote work? You might want to reconsider. πŸ€·β€β™€οΈ As a W2 employee, you won't be able to claim deductions for home office expenses, meaning you'll have to cover all costs yourself.⁠

On the flip side, if you're self-employed, you have the flexibility to deduct a wide range of expenses related to your home office space.

Have questions about home office deductions? Feel free to drop us a message!⁠

09/15/2023

Running an LLC with your life partner can be a game-changer, but it's crucial to understand the implications. Here are some key points to ponder:

Pros:
1️⃣ Liability Protection: Protect joint assets by clearly defining your spouse's role.
2️⃣ Business Property Usage: Ensure seamless tax and liability handling for personal assets used in the business.
3️⃣ Cost Savings: Opting for partnership status can save on payroll taxes.

Cons:
1️⃣ Complexity & Costs: Adding a spouse may mean more intricate tax filings and potential legal expenses.
2️⃣ Loss of Control: Your spouse gains a say in business decisions, which may lead to disagreements.
3️⃣ Potential Relationship Stress: Balancing work and personal life can be challenging.

Remember to amend the operating agreement, file the necessary documents with the state, and follow any state-specific procedures when adding your spouse to your LLC.

Before you make any moves, please weigh the pros and cons and explore alternatives. You can involve your spouse in the business without altering the LLC structure!

08/24/2023

Despite its straightforward calculation, most self-employed taxpayers still need to learn about the Augusta Rule. This lack of knowledge means missing substantial tax savings that could benefit their businesses.

Understanding the Augusta Rule is one thing; successfully putting it into practice is another, especially for many self-employed individuals who might find this process daunting. Dive into our blog to better understand how the Augusta Rule can specifically assist the self-employed.

You can find out more about the Augusta Rule in our blog post. Take advantage of valuable tax-saving opportunities!

https://numbersquad.com/maximizing-your-tax-savings-with-the-augusta-rule-280a/

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Videos (show all)

Unlock Your Tax Savings Potential! πŸ’°πŸ’Ό Book a Call Today to Maximize Your Savings and Secure Your Financial Future. πŸ“ž
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Start early and enjoy the benefits of smart tax planning.Click the link [https://numbersquad.com/save/] to access the to...
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The Game-Changing Tax Planning Tool for Self-Employed! πŸ’°πŸ’ΌTired of paying hefty taxes as a self-employed individual? Say ...
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