Unemployment and Tax Credits – Navigating the Process The Cleveland Group, CPAs is working diligently to assist our clients through this process and monitoring all of the tax legislation to further assist our clients. Rest assured we are in this...
Read MoreTreasury Announces Extension of Tax Filing Deadline
Treasury Secretary Steven Mnuchin tweeted Friday that President Trump has directed him to move Tax Day to July 15, giving taxpayers more time to file their taxes in the midst of the coronavirus pandemic. All taxpayers and businesses will have...
Read MoreLobby Closed
Under normal circumstances, we are super excited to see you! However, effective Friday, March 20th we have decided to follow the CDC guidelines and close our lobby to the public. Only employees will be allowed in the building. For now, our...
Read MoreTreasury Secretary Announces 90-day Delay in Tax Payment Deadline
In a press conference on Tuesday, Treasury Secretary, Steven Mnuchin, announced that individuals and corporations can delay their tax payments for 90 days due to the coronavirus pandemic. Individuals can defer up to $1 million in payments for 90...
Read MoreReap Tax Rewards from Year-End Harvesting
The stock market has experienced plenty of ups and downs this year. So some investors are poised to take big gains for 2019, while others are currently showing losses and many have both. What are the tax consequences if you sell securities?...
Read MoreTaxpayers should beware of property lien scam
With scammers hard at work all year, taxpayers should watch for new versions of tax-related scams. One such scam involves fake property liens. This particular scam threatens taxpayers with a tax bill from a fictional government agency. Here are...
Read MoreNew Overtime Pay Rules Finalized for 2020
The U.S. Department of Labor (DOL) has issued the long-anticipated final version of its overtime eligibility rules. The changes will take effect on January 1, 2020. As a result, the DOL estimates that 1.3 million workers will be newly eligible...
Read MoreIt’s Spooky to be Hungry
Now celebrating its 27th year, It’s Spooky To Be Hungry® collects food and funds for the hungry during the month of October in neighborhoods and organizations across the CSRA. The Cleveland Group CPAs has partnered with the Golden Harvest...
Read MoreTax Implications of Refinancing Your Home
You may be thinking about refinancing this year to take advantage of falling interest rates. Or you may have refinanced your home mortgage last year and have yet to file your 2018 return (because you filed an extension). Either way, there are...
Read MoreTax transcripts: What are they and why would you need one?
Do you know where you filed the copies of your tax return? What about your tax return from 3 years ago? The IRS recommends that you keep at least 3 years of tax returns on hand. If you can’t find a copy, tax transcripts may be the...
Read MoreTips for taxpayers who make money from a hobby
Many people enjoy hobbies that are also a source of income. From painting and pottery to scrap booking and soap making, these activities can be sources of both fun and finances. Taxpayers must ask themselves if their hobby is a recreational...
Read MoreSummer Loving? Think About Taxes Before You Tie the Knot
For many couples, summer is the quintessential time to tie the knot. The weather is warm, the flowers are blooming and nature offers plentiful backdrops for photos. But there’s more than the ceremony to consider when a couple merges their...
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