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Brian Pry CPA, PLLC

Tax advisory and accounting for SMBs

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Tax

Q2 Planning

May 10, 2023 By Brian Pry

Some quick updates for Q2:

-Quarterly or Estimated Tax Planning: please reach out or use Brian’s scheduling link to book some time if applicable. Individual Q2 estimated tax payments are due 6/15. If your 2022 Tax return is complete, any applicable quarterly vouchers will be included in your copy of the return (see Smartvault 2022 Tax Folder).

-Business Owners: if a 2023 S-Corp election or other planning needs were part of the 2022 recap, please reach out or schedule some time with Brian.

-We are onboarding bookkeeping/accounting support right now. If your small business has a need for service or support, please let us know.

-2022 Tax Returns: if you are currently on extension, we strongly encourage you not to wait until the September/October deadlines. We will continue working on returns each week. Please reach out if you need assistance or to discuss any outstanding items to provide us.

Filed Under: Tax

TAX DEADLINE REMINDER 4/18

April 17, 2023 By Brian Pry

2022 tax deadline is Tuesday 4/18. While an extension grants additional time to file, tax liabilities are always due by that initial filing deadline.

What this means: if you owed tax or will owe tax with your 2022 returns, it is recommended to pay that balance by 4/18. You may need to estimate this amount if you are still waiting on documents and your 2022 returns are not in process.

2023 Estimates – Q1 estimates are already due as well. If you are supposed to be making quarterly payments, your 2022 tax return copy will likely include those ES vouchers with the amounts, due dates, and payment instructions (federal and state where applicable). If you are on extension, you may not have this information readily available. In that event, you may increase wage withholding or estimate the quarterly payment. 2023 tax planning will commence right after the 4/18 deadline, please coordinate time on my calendar if this applies to you.

If you have questions, do not hesitate to reach out. We will be submitting extension requests for any returns not filed by the 4/17. Proof of the extension request will also be printed to your smartvault folder for your records.

Filed Under: Tax

2022 Planning Season

October 8, 2022 By Brian Pry

2022 planning season is here! October through December is a GREAT time for year-end tax planning, especially for business owners. Here is what we do:

  • Estimated tax liability analysis (make sure you are on track)
  • Strategic planning and implementation
  • Overall guidance for optimal decision making

If you are not already meeting with us regularly, you are welcome to reach out directly or schedule time for a 2022 review!

Filed Under: Tax

401(k) Safe Harbor Deadline Coming up!

July 25, 2022 By Brian Pry

Just a quick announcement for business owners looking to establish a 401(k) plan this year – there are setup deadlines each year and they can vary based on who the administrator is. Typically the hard deadline is October 1st, but be aware that it can be sooner (for example, Guideline is requiring new plans be established by August 19th). If you have questions or are in need of some planning, please do not hesitate to reach out to our office.

Filed Under: Tax

Q4 Tax Planning

October 11, 2021 By Brian Pry

Happy October! Now that we are in the fourth quarter of the year, we encourage year-end tax planning. Late October/November is a great time for assessing the current year and discussing strategy before year-end. Please use our scheduling link or reach out to Brian@prycpas.com to coordinate.

Filed Under: Tax

Important Update – Firm Contact Info

February 24, 2021 By Brian Pry

Dear valued client,

As previously mentioned, our firm information has changed (and our contact information as well). Please note the current email address and phone number:

Brian@prycpas.com

(480) 980-7600

Also, tax season is well underway and we are here to answer any questions. You may also refer to our CLIENT RESOURCES page to access your secure client portal or check the status of your refund.

Sincerely,

Brian Pry, CPA

Filed Under: Tax

2020 Tax Season Update

January 8, 2021 By Brian Pry

Dear valued client,

As we prepare for tax season, we would like to thank you for your continued support. In preparation for 2020 tax season, we are sending this to our clients to outline the process. If you received an invite to Intuit Link, you may disregard or use the information for reference in gathering your tax documents. We apologize for any confusion that may have occurred in the process. As you may have noticed already, our firm information has updated. The important notes for tax season are as follows:

  • Client Portal for uploading/downloading secure tax information (login will be attached to your email)
  • You are welcome to begin sharing/uploading documents when ready
  • Intuit Link was sent previously, which includes 2020 checklist items and organizer for reference – let us know if you have not received this or need assistance
  • We are happy to schedule a tax season planning call to discuss any important details (see scheduling link on “contact us” page)

Again, thank you for your support! We look forward to connecting this season.

Filed Under: Tax

2020 is OVER! Now What?

January 1, 2021 By Brian Pry

First things first, let’s acknowledge the end of a challenging year. For many of us, 2021 represents our hopes for new beginnings. As we reflect on the things that changed this past year, we can’t avoid some of our old habits or traditions. What are we referring to? Well, the new year often rings the bell for taxpayers to start gathering their details in preparation for filing season.

If you have been paying attention to our posts and outgoing communications, you may have seen a lot of the updates and changes in place (specific to 2020, the CARES act, etc.). One recent development/change in legislation revolved around PPP, another round of funding, and a lot of rules and items that will impact our filing season. Whatever your personal situation, we are here to help! For current clients, 2020 organizers will be on the way soon. For new clients, we will start taking tax meetings (via phone or zoom) mid-January. Let us know if you have questions or need assistance!

Continue Reading about 2020 is OVER! Now What?

Filed Under: Tax

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