As we conclude another tax season, many Americans have been noticing that their tax returns have not been as high as they expected. This year, there have been some complicated changes to the tax law that left some taxpayers caught off guard. In fact, the average tax refund is down from last year. And while that might not seem like a lot of money, the shortfalls have added up — to the tune of $6 billion, according to the IRS. (more…)

For many people, filing taxes is a chore they’d rather not do. In fact, according to research, more than half of all Americans report they do not like doing their taxes. While we all stop thinking about our taxes as soon as they've been filed, this is actually the perfect time to start planning for next year. In fact, filing taxes is an ongoing process that requires year-round attention. (more…)

It’s likely that we’ve all done it at some point or another over the years — and if you’ve procrastinated on doing your taxes, then you're not alone. In fact, 14 million people waited until the last minute to file last year. While filing your taxes may not be the first thing on your mind when you think “springtime,” it should be. In fact, the longer you wait to file your taxes, the higher the chance will be that it can cause issues for you, possibly even resulting in penalties due to rushed mistakes and late submissions. (more…)

From December 22nd, 2018 to January 25th, 2019, the United States experienced a partial government shutdown. Lasting 35 days, it was the longest of its kind in our country's history and disrupted multiple federal agencies, including the IRS, who temporarily laid off many of its employees and suffered interruptions and delays in many other services. Due to this situation, you might be asking yourself “Did the government shutdown affect my taxes?” (more…)

As one of the most dreaded outcomes of the U.S. tax filing process, an audit carries along with it an unsettling aura of mystery and notoriety. A tax audit typically evokes images of Internal Revenue Service agents with badges showing up at your door and rifling through your personal belongings and assets, looking for clues and other financial information. However, these days, that’s just not the case. In fact, an actual tax audit varies greatly from this stereotypical myth. (more…)

By Sean J. Brennan, CPA | Brennan and Company CPA PC   The federal government shutdown has been ongoing for several weeks and is now the longest in U.S. history. President Donald Trump stated recently the shutdown could last months or “even a year”.    (more…)

Each year, there are changes and various and tax-related provisions made by the IRS that can affect taxpayers and they way they file their taxes. As the authority on tax preparation and monthly bookkeeping services in Philadelphia, Brennan and Company CPA, PC helps our clients stay aware of these changes through reliable resources and trusted information found here on our blog. (more…)

The arrival of the new year presents more than just a time for reflection, celebration, and resolutions. It’s also the beginning of tax season. And if you’re a business owner, then you’ll need to start getting prepared to file your company’s taxes. (more…)

Here at Brennan and Company CPA, PC, we’re not just the trusted financial consultants in Philadelphia. We’re also the reliable source of information for all things tax related. In fact, it’s precisely why we’re providing these tax tables, which we hope you will find useful. (more…)

At Brennan and Company CPA, PC, we’re committed to helping our clients manage the critical financial decisions their small and medium businesses face. Whether you need tax preparation services, help with your payroll, or you’ve been audited by the IRS, you can rely on us for all your accounting needs. For more information on how to save money and add to your bottom line, call Brennan and Company CPA, PC at 215-951-5585 today! (more…)

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