Taxes and accounting done right!
It's never too late to organize your taxes! I can help you with personal income, your small business, non-profits and more!
Whether it's setting up payroll, organizing your books, or al a carte accounting, I'll help you get all your ducks in a row!
Belinda Kent Tax & Accounting was started in 2006 to help individuals and small businesses owners with their tax and accounting needs. My goal is to enable and empower small businesses and individuals to put their whole energy into running their businesses and lives and not worry about the details and organization of accounting and taxes which can be overwhelming.I offer bookkeeping and accounting services to help you manage your business. I also offer tax services for small businesses and individuals.I, Belinda Kent, the owner became an Enrolled Agent eligible to practice before the IRS on June 21, 2012. With this credential I can not only prepare tax returns but can also assist you with questions you have about notices you receive from the IRS, and I can also represent clients at various IRS hearings, as well as assist clients with various things that are considered practicing before the IRS.
Send your questions:
I specialize in the following returns:
- 1040 Personal Income Tax Return
- Clergy returns and proper reporting of parsonage allowance
- Schedule C & E for sole proprietors and rental business
- 2555 forms for missionaries and others working overseas
- 1065 Partnership Returns for small partnerships
- 1120S Corporate Returns for small S Corps
- 1120C Corporate Returns for small C Corps
- 990 returns for small non-profits.
- Quarterly estimated tax payments
Payroll Services – I can get you setup to do your own payroll, or do it for you, and take care of all the monthly and quarterly payroll filings. I will set you up with all the tax liability reporting agencies so you will never fall behind in payroll tax again.Monthly Bookkeeping Services – including bank reconciliation, monthly reporting, and financial statements that keep you on top of your business’s finances.QuickBooks Proficiency – I can set you up with either QuickBooks Desktop accounting or QuickBooks Online Accounting service and teach you how to use it or do it for you.Clean Up Services – Have you fallen behind on your books? I can get you up to date.Sales/Use Tax Reporting – I can help track your sales tax due – and set reminders for due dates.Al a Carte Accounting – I will help you as much as you want i.e. do all your date entry and accounting, or do just the pieces you need such as payroll liability payments etc., or show you how to do everything on your own and be there as a support for you.
Link to off-site portal where you can securely upload and download your tax files.
Below is a list of resources to help you organize your records and understand tax laws.
2021 Information Pertaining to the American Rescue Plan Act (ARPA)
On March 11, 2021, the President of the United States signed into law the American Rescue PlanAct (ARPA) that authorized a third round of stimulus payments and advanced payment of the Child Tax Credit. The IRS issued notices that provided the amounts you received for these payments. This information is necessary to accurately complete your 2021 individual tax return. Information provided below explains what notice you received and how to obtain the information if you no longer have the notice or have yet to receive a letter.Stimulus Payment (Economic Impact Payment - EIP)
The third round of EIP or stimulus payments began mid-March 2021. Individuals could have received up to $1,400 ($2,800 for married couples filing a joint return). Qualifying dependents may have also received $1,400. Unlike the first two payments, EIP3 was not limited to children under 17. Families may have received the payment based on all of the qualifying dependents claimed on the tax return. Most families received $1,400 per person, meaning, a single person with no dependents may have received $1,400 while a family of four may have received $5,600. Notice 1444-C was sent following the payments and Letter 6475 will be issued in January 2022 with a combined total.
If you no longer have Notice 1444-C, or have not received Letter 6475, log in to your IRS Online Account to get the accurate amount of EIP3 received.- 1. Go to irs.gov.
- 2. Select "View Your Account Information."
- 3. Select "Log in to your Online Account" and follow the prompts provided.Advance Child Tax Credit Payments
Under ARPA, the maximum amount for the Child Tax Credit (CTC) was increased from $2,000 to $3,600 for each child 5 years old and under. For children ages 6 - 17, the maximum increased to $3,000. In July 2021, eligible families that did not opt out began receiving advanced CTC payments up to $300 per month for each child age 5 and under and up to $250 for each child between the age of 6 and 17. IRS will issue Letter 6419 to provide the amount received per taxpayer and how many children were taken into account to determine the amount received.
If you no longer have Letter 6419, or have not yet received it, follow the directions above to log in to your online account to access the Child Tax Credit Update Portal or log directly in to the portal using the instructions below. For married couples filing a joint return, the taxpayer and spouse will both need to log in to get the amount apportioned to each taxpayer.
- 1. Go to irs.gov.
- 2. Select "Child Tax Credit Update Portal."
- 3. Select "Manage Advance Payments" and follow the prompts provided.
As the 2021 tax season quickly approaches, I am advising all clients to set up an ID.me account now with the IRS. It is a trusted technology provider of the IRS that provides secure identity verification for its digital services. Setting up an ID.me account is quick and easy. It requires uploading a picture of your driver’s license or passport and taking a live selfie to confirm your identity.
Below is a link to a setup guide that will walk you through the steps of setting up this account. Once you have an account, you will have access to view and confirm key tax information such as stimulus payments you have received (EIP), advanced child tax credit payments received, estimated tax payments you have made, tax return transcripts, copies of W-2’s and 1099’s, etc.It is vitally important and urgent this tax season to have the correct information on the amount of EIP and advance child tax credit payments received. If the amount claimed on the tax return does not match your online account, there will be a very long processing delay of your refund by the IRS.
I look forward to working with you more in the coming weeks.
Please let me know if you have any questions.
Foreign Bank and Financial Accounts Info
Go to Financial Crimes Enforcement Network
Go to Bank Secrecy Act Filing System
October FBAR extension deadline nears for foreign bank and financial account holdersThe Internal Revenue Service today reminds U.S. citizens, resident aliens and domestic legal entities that the extension deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is Oct. 15. For additional information about filing deadlines, filers should look to Financial Crimes Enforcement Network’s (FinCEN) website.Filers who missed the April 15 annual due date earlier this year received an automatic extension until Oct. 15, 2022, to file the FBAR. They did not need to request the extension. See FinCEN’s website for further information.Who needs to file?
The Bank Secrecy Act requires U.S. persons to file an FBAR if:1. They have a financial interest in or signature or other authority over one or more accounts, such as a bank account, brokerage account, mutual fund or other financial account located outside the United States, and2. The aggregate value of all foreign financial accounts exceeds $10,000 at any time during the calendar year 2021.Because of this threshold, the IRS encourages U.S. persons with foreign accounts, even relatively small ones, to check if this filing requirement applies to them. A U.S. person is a citizen or resident of the United States or a domestic legal entity such as a partnership, corporation, limited liability company, estate or trust.How to file
Filers do not file the FBAR with their federal income tax return. The 2021 FBAR must be filed electronically with FinCEN and is only available through the BSA E-Filing System website. Individuals who are unable to e-file their FBAR must contact FinCEN at 800-949-2732 or FRC@fincen.gov to request an alternative filing method. Callers from outside the U.S. can contact the helpline at 703-905-3975.Avoid penalties
Those who don't file an accurate FBAR when required may be subject to significant civil and criminal penalties that can result in a fine and/or imprisonment, depending on the facts and circumstances.
Go to Financial Crimes Enforcement Network
Go to Bank Secrecy Act Filing System
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