New W4 for 2020

There is a new W4 Form for 2020. It is not required for existing employees and employers should continue to use the existing withholding allowances and filing status for employees that filled out the old form.  But for those employees you hire after 12/31/2019, and for any employees who wants to adjust their withholding, the 2020 version is the only valid Form W-4.

Continue reading “New W4 for 2020”

Keep saving receipts for Itemized Deductions

Even though the Federal Standard Deduction doubled and most people will not be taking Itemized Deductions on their Federal Tax return this year, some states did not follow the Federal lead. States such as California and New York did not conform.

That means that if you used to itemize, you better continue to track those same expenses because you can still use them to save state taxes

Our Carson City Office has moved

We are now at 701 South Carson Street – above the Artisan Cafe and Bakery.

Bright cheerful office space, the delicious smells of fresh baked goodies and coffee. What could be better? Oh – subletting from the same great people we were with at the Ferris Mansion, that’s what.

Thanks Matt and the great staff at for letting us tag along!

New Reporting Requirements for Business

Businesses are now required to report to the IRS whenever there are changes to contact info – responsible party, address etc.

This from the Form 8822-B instructions:

Beginning January 1, 2014, any entity with an EIN must file Form 8822-B to report the latest change to its responsible party. Form 8822-B must be filed within 60 days of the change. If the change in the identity of your responsible party occurred before 2014, and you have not previously notified the IRS of the change, file Form 8822-B before March 1, 2014, reporting only the most recent change. Complete Form 8822-B as appropriate; use applicable boxes 8a through 9b to report any changes to the identity of your responsible party. 

For more check out the form and instructions here.

How to get your Wage Withholding Tax just right

The IRS recently released a helpful video on their YouTube channel.

This video explains how to use their Withholding calculator to get your withholding just right.

If you are a wage earner this video and the calculator will help you understand how it all works.

The IRS removed this video. It is pretty old after all.