What you need to know about cryptocurrency at tax time

Cryptocurrency is a relatively new and exciting field. Blockchain technology has opened up tons of new applications and fields from Smart Contracts to instant money transfers to mining cryptocurrencies. Advocates claim it will impact our daily lives in the near future, and there is no doubt it affects your tax situation right now. Congress and…

Book Your Tax Appointment Now!

It’s time to schedule your tax appointment.  Did it sneak up on you? Don’t panic, it’s less painful than the dentist and you might even head home with more money than when you made the appointment.  Does your dentist do that? A tax appointment with Kim Schorr is painless! This year KMS Tax Preparation has…

Need more time to file your taxes? You’ll need an extension. Here’s how.

Taxes are due one week from today! While things have been busy here at KMS Tax Prep, we know your life has been busy too. Did I just remind you about filing your taxes? Yes, it’s true, you have procrastinated that long. Don’t worry, there is still hope for you. The IRS allows you an…

Small Business Cyber Monsturday Offer

It’s Small Business Saturday! Monday is Cyber Monday! Instead of blowing a ton of money on a clever TV ad, we’ve decided to combine the small business support of Saturday and the ease of doing things online Monday.  This small business is offering a great cyber deal, this weekend only.  Here’s how easy it is:…

Donating to Disaster Relief? What you need to know.

With the wildfires still raging in Northern California, and numerous states and territories still devastated by multiple hurricanes, many of my family, friends, and clients are talking of donating to help those affected. Some even mention a tax deduction as a benefit of donating. While this can be true in some situations, if the deductibility…

Your Road Map to a stress free tax season – Free Check-up!

Time for your FREE tax check-up! A tax check-up? What is it?  Will it hurt? Basically it’s a way to make sure you are on track and where you want to be in regards to your taxes. Most people think they don’t need to worry about taxes until March or April when it is time…

Tax Extension Deadline Approaching – We can help!

There are many reasons for filing an extension for your tax return. Maybe you were waiting for more documents. Maybe your employer made a mistake and had to correct your W-2. Maybe you received a 1099 and weren’t sure how to handle it. Maybe you started a new business and were overwhelmed. Maybe you just…

Income Tax Extensions – Don’t Panic! 4 Things You Need to Know Before You File

It’s that time of year, only four days left before income tax returns are due. When you think about that do you get nervous?  Did you already file your taxes?  Good for you!  Believe it or not there are people out there right now in full panic mode looking at a pile of papers they…

Direct Sales and Income Tax

Lularoe Fashion Retailer, Scentsy Consultant, DoTerra Wellness Advocate, Avon Representative, Rodan + Fields Consultant…even Tupperware. There are many names and opportunities, but it all comes down to the same thing – you have a small business. Businesses have their own sets of rewards and challenges, including special requirements for your tax return. It’s not just you…

Think outside the box

Many of my recent clients online have been using tax software for years and their reasons for switching are as varied as their tax situations: A new business, a new member of the family, a new house, a letter from the IRS that you owe them money, a busy schedule and/or workload that just doesn’t…