Category: tax preparation

Stressing about your taxes?

Taxes are not fun, but you don’t have to get stressed about them.  Just contact Hampton Roads Accounting at 757-454-6276 and let us take care of your tax preparation needs.

Identity Protection PIN Availability Expands

New for the 2020 tax filing season, taxpayers in more locations will be eligible to opt into the online Identity Protection (IP) PIN program. The IP PIN is a 6-digit number that adds another layer of protection for taxpayers’ Social Security numbers and helps protect against tax-related identity theft. Taxpayers will be eligible for this […]

Everyone Should Use A Mileage Tracking App

One of the biggest tax deductions for an independent contractor, small business  owner, salesman, Lyft/Uber driver or freelancer is vehicle mileage.  All business mileage is deductible, and for 2019, the rate is $0.58 per mile.  Driving just 5,000 business miles in 2019 means a deduction of $2,900! To claim the deduction, the IRS requires a […]

Steps to Take Now to Get a Jump on Next Year’s Taxes

Tax planning is for everyone. Get ready today to file your federal income tax return next year. Adjust your withholding or make a tax payment If you received a smaller refund than expected or owed an unanticipated tax bill this year, consider adjusting your withholding to help protect against having too little tax withheld and facing […]