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TaxRevo Fun Fact

According to Yahoo, Exxon Mobile pays more in taxes than any other corporation. The oil and gas giant trails only Wal-Mart in revenue and has the highest pre-tax income of any American public company. In 2014, the company’s tax expenses totaled nearly $31 billion. No wonder Exxon’s mini-mart sells $3 sodas.

Upcoming Tax Calendar for Businesses & Self-Employed

January 2016:

  • 11 - Employers: Employees are required to report to you tips of $20 more earned during Dec 2015.
  • 15 - Pay the final installment of your 2015 estimated tax - use Form 1040-ES.
  • 15 - Farmers and fisherman: Pay your estimated tax for 2015 - use Form 1040-ES.
  • 15 - Deposit payroll tax for Dec 2015 if the monthly deposit rule applies.

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TaxRevo Welcomes New Manager to Run Firm

TaxRevo was launched two years ago with a simple premise: to create an accounting firm that caters to individuals and small businesses, yet backed by a full team of accounting professionals from all disciplines and specialities.

As the rapidly-growing firm moves into its next chapter, company officials have selected an experienced Lakewood CPA to oversee the practice. Joseph (Yossi) Reich, who has provided accounting services for large and small agencies, as well as served as controller for a large assisted living operation, will be joining TaxRevo later this month.

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Why is the IRS Still Using Social Security Numbers?

Even with so much fraud, the IRS is making only the slowest of strides to remove Social Security numbers from official documents.

The Treasury's inspector general for tax administration found the IRS had removed Social Security numbers from just 58 of the 2,749 kinds of letters it sends – a rate of just two percent.

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TaxRevo Fun Fact #3

According to TurboTax, the production of wild blueberries in Maine is one of the most important agriculture industries in the state – making it necessary to protect it with a tax.

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TaxRevo Steers You Away from Costly Errors

IRS rules and forms constantly change. It's easy to make mistakes when filing taxes. Here are some of the common errors that we ensure you avoid:

Waiting to file – Why wait? Early tax filers can expect early refunds. Most Americans receive refunds each year, and the average return is approximately $3,000. TaxRevo gets your money back to you as quickly as possible.

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Three Insights to Choosing Active Retirement Investments

The answer to a well-funded retirement is seeking out equity investments that are resilient during market downturns.

According to a new American Funds report, market turndowns can be harmful to retirees because they are drawing regular income from their portfolios. Without a salary to make up for losses, they could suffer serious setbacks.

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Upcoming Tax Calendar

October:

• 21 – Deposit payroll tax for payments on Oct 14-16 if the semiweekly deposit rule applies.

• 23 – Deposit payroll tax for payments on Oct 17-20 if the semiweekly deposit rule applies.

• 28 – Deposit payroll tax for payments on Oct 21-23 if the semiweekly deposit rule applies.

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Happy 80th Birthday Social Security (And Seven Things You Need to Know)

Last month made it 80 years since FDR signed Social Security into law. Happy belated birthday, Social Security! You've helped millions of families over the years.

When Roosevelt was in the White House, many investors lost any savings they had during the Great Depression, leaving them with precious little to get by. Social Security made it possible for these Americans to retire in some comfort, as well as helped their children and, now, grandchildren.

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IRS Warns Taxpayers to Guard against New Tricks by Scam Artists

As there seems to be a new tax scam invented every minute of the day, the IRS is now forced to issue yet another warning to taxpayers: Remain on high alert and protect yourself against the ever-evolving array of deceitful tactics scammers use to steal money.

These schemes – which can occur over the phone, on social media, in emails or through traditional letters with authentic looking letterhead – try to trick taxpayers into providing personal financial information or scare people into making a false tax payment that ends up with the criminal.

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