Due April 18th File 2021 Tax Return Pay Quarterly Estimated Taxes Pay 2021 Taxes Due Request 6-Month Filing Extension Contribute to Individual Retirement Account (IRA) for 2021 Contribute to Health...
Tax Deadlines
read more
The Hopkins Group stays current on all tax and accounting laws and keeps you informed and educated through quarterly newsletters and one-on-one communication.
Child Tax Credit Portal
If you received advance payments of the Child Tax Credit, you need to reconcile the total you received with the amount you’re eligible to claim on your 2021 income tax returns. Unsure if you...
PPO Loan Law Update
During the 2022 Virginia General Assembly Session, legislation was enacted to conform with the Internal Revenue Code’s Covid-19 response legislation. Tax Bulletin 22-1 was released on February 23,...
HSA with Medicare
HSAs (Health Savings Accounts) are accounts for individuals with high-deductible health plans (HDHPs). Contributions to HSAs are tax deductible up to an annual limit, and distributions made to...
401(k) Advantage for Ages 50+
Once you turn 50 years old you are entitled to a 401(k) Catch-Up Contribution and can contribute a total of $26,000 now! The 2021 contribution limit for employees is $19,500 and the Catch-up...
Employee Retention Tax Credit (ERTC): Is Your Company Eligable?
We can help amend 2020 Q2-Q4 quarterly returns and the 2021 Q1 quarterly returns (and possibly Q2) for any amounts that are eligible based on any of the following reasons: Operations partially/fully...
How to Avoid Withholding Penalties
Underpaying your tax liability can result in unnecessary penalties. Two simple ways to avoid the penalty are: Pay 100-110% of the tax liability shown on the return for the prior year, depending on...
2021 Tax Changes (RMDs, 1099NEC)
RMDs new required age is 72 The Secure Act made changes to the RMD rules. If you reached the age of 70½ in 2019 the prior rule applies. If you reach age 70 ½ in 2020 or later you must take your...
COVID Programs (PPP/EIDL/PUA)
In 2020 new programs were created to help small businesses including forgiven loans, grants, and unemployment benefits. PPP Forgiven Loan The CARES Act states the forgiven loan amount will not be...
2021 Tax Deadlines
Below are the 2021 Tax Deadlines for The Hopkins...