SJBiz_Dept_Tax Tips_0125_Dept 1 / 13 / 25 1 : 51 PM Page 1 the rule in the state where the business is T A X S E A S O N locatedversus where the employee works . Some states allow for reciprocity , so there is no real tax consequence to manage . Some states are strict in enforcing the em - ployer’s location as the location of work , re - gardless of where the employee sits . De - termining what rules apply to whom is really the key to managing consequences proactively . ” w ~ Kirsten Toler Planning Ahead Tips from the IRS to help make tax filing easier Tax Tips Create or access your account informa - tion at IRS.gov / account Some key advice to help prepare for your 2024 filings Organizedtax records make preparing a complete and accurate tax return easier . It [ ByPeter Proko ] helpsyou avoid errors that lead to delays that slow your refund and may also help you find overlooked deductions or credits . iththe arrival of tax season , duefor that return by April 2025 . You need there are many things for to pay 90 % of the tax you owe for 2024 or Check your individual tax identification business owners to take 100 % of the tax you owed in the prior year . number ( ITIN ) W into consideration as they … Also , remember to have withholding or AnITIN only needs to be renewed if it has being preparing their 2024 filings . Whether payestimated taxes on things like gains on expiredand is needed on a U.S . federal lookingfor ways to reduce one’s tax liabil - stocks or large dividends , or interest . ” tax return . ity or perhaps making preparations to be ~ Jo - Ann Weiner , J . L . Weiner and Associ - Get an identity protection personal aheadof the game for next year , it can be ates , LLC identification number ( IP PIN ) a tricky road to navigate without the help AnIP PIN is a six - digit number that pre - ofa tax professional . To find out more , we Howdo you help clients who have ventssomeone else from filing a federal spokewith some accounting experts from a hard time navigating the com - taxreturn using your Social Security thearea to get their insight on how to best plexities of dealing with the IRS ? numberor Individual Taxpayer Identifica - handlematters strategically and effectively . “ The tax law , regulations and procedures tionNumber . It’s a vital tool for ensuring arevery complex . More than ever , it is rec - thesafety of your personal and financial Is there anything on the horizon ommendedthat clients have experienced information . thatbusiness owners should start representation to navigate a reasonable paying attention to now to be bet - solutionthat benefits them . Having worked Make sure you’ve withheld enough tax ter prepared for the future ? atthe IRS for 35 years , I know how to work Consideradjusting your withholding if you “ In general , the Tax Cuts Jobs Act ( TCJA ) withinthe government systems to arrive at owedtaxes or received a large refund changes from 2018 are scheduled to sun - reasonable , achievable solutions for clients . whenyou filed . Changing your with - set on 12 / 31 / 25 . Given the new [ presiden - Whether it’s an appeal , an Offer in Com - holdingcan help you avoid a tax bill or let tial ] administration is the team that insti - promise , a lien subordination , an install - youkeep more money each payday . tuted these changes initially , there’s no mentagreement , a partial pay installment Creditamounts may change each year , so way to know yet if these will be extended agreement , an innocent spouse or an in - visitIRS.gov and use the Interactive Tax or changed going into 2026 . For now , a juredspouse , there is always an answer to Assistantto identify whether you qualify good strategy would be to continue befound . ” for any tax credits that may call for a with - through at least the first half of 2025 pre - ~ Jo - Ann Weiner holdingadjustment . suming that there will be no material Get banked to speed tax refunds with changes . I think everyone’s ‘ crystal ball ’ is Arethere certain tax consequences direct deposit a little dusty until we hear more . ” associatedwith having employees Thefastest way for you to get your tax ~ Kirsten Toler , KMT Consulting , LLC who work remotely ? refund is by filing electronically and “ This seemed to be a trickier issue during choosingdirect deposit . Direct deposit What’s the best advice you have COVID , when so many employers had no givesyou access to your refund faster than for business owners heading into choice but to have employees work re - apaper check . Get your routing and thetax filing season ? motely . In the years since , states have be - accountnumber by signing into your “ Rememberthat your extension to file your come more aware and their review of onlinebanking account or contacting your federal tax return is not an extension to nexus , or the location of workers , has been bank . pay . So , if you are filing an extension for noticeablymore heightened . The best way ~ IRS.gov your2024 return , be sure to pay your taxes to avoid potential issues is to determine 8 | SOUTH JERSEY BIZ | VOLUME 15 ISSUE 1 | SouthJerseyBiz.net