To Our Valued Clients & Friends

Tax time is always a crazy and fun time, and this particular tax season was accompanied by some additional opportunities, challenges and uncertainties. This was not only the case for the taxpayer, but also for their CPA’s and the Internal Revenue Service alike.

Some of the fun things we dealt with:

  • Many folks got accustomed to the “contactless” tax preparation experience.
  • The IRS was struggling with tax changes from COVID related stimulus and law changes, as well as being backed up from COVID shutdowns and other staffing issues.
  • There was a 2-week delayed start of filing returns due to challenges the IRS was facing.
  • Many taxpayers received unemployment compensation for the first time.
  • There were unprecedented IRS and State tax form changes in mid-to-late March.
  • Confusion for those working from home during the pandemic but not self-employed.
  • Uncertainties and confusion with the Employee Retention Tax Credit,  Paycheck Protection Program, and Economic Injury Disaster Loans, plus multiple revisions to these programs over the last 12 months.
  • COVID related retirement distributions and the ability to spread the tax impact or repay the distributions over 3 years.
  • Refunds were delayed and returns went unprocessed for long periods of time. On top of that, the IRS was working to implement multiple provisions of stimulus legislation.
  • The list goes on, and many will exist for some time.

This has been an unprecedent tax season to say the least, and we could not have survived without each other. This is further proof that together we can create the most out of any challenge or opportunity in which we are faced. So, we want to take a moment to extend our sincerest gratitude.

We are incredibly grateful for, and overwhelmed by, the amazing support that we have received from the community, and for everyone who recommended us to their friends, family and colleagues. 

We owe everything to our wonderful clients, and we want to THANK YOU for your patience, for your understanding, and for your trust.  For your patience as things took a little longer than anticipated.  For your understanding when we didn’t have all the answers, simply because the answers did not exist.  And, for placing your trust in us as we did our best to navigate through the storm, while keeping your best interest in mind.

From the bottom of our hearts, thank you!

We’re sure the 2021 tax season will have its fair share of challenges, but until then, stay safe and stay happy.

Here’s to a fantastic, stress-free summer. We’ll see you next year!

Sincerely,

Senter, CPA Team

Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.

Fact or Fiction for the Employee Retention Credit (ERC)

There are many people who may have question regarding the Employee Retention Credit (ERC) that became available for businesses during the Covid-19 pandemic.

Happy Thanksgiving

Josh Legant is joining the Senter, CPA Happy Thanksgiving to all Senter, CPA, P.C. clients, team, friends, and community.

Since today is Thanksgiving, I wanted to share a few things that, myself and the rest of the Senter CPA team, are thankful for:

2022 Tax Planning

Tax planning is the process of managing your financial plan with the goal of reducing your tax liability, and safeguarding assets at the federal and state level. Most tax planning involves deductions, credits, and current vs. future tax rates. When tax planning, you should be looking for strategic and legal ways to reduce your tax burden now and for years to come. This year is a great year to look at possible Roth Conversions or Loss Harvesting. With the downturn in the market it is an opportunity to convert some or all of a retirement to a Roth account with paying the lowest amount of tax.

Thank you!

Josh Legant is joining the Senter, CPA team as Staff Accountant.

Understanding Chart of Account in QuickBooks Online

Chart of Accounts is the hub of all your accounting.

Welcome to the Senter, CPA Team – Josh Legant

Josh Legant is joining the Senter, CPA team as Staff Accountant.

How to categorize transaction in QuickBooks Online

Connect your Shopify store to QuickBooks Online to automate your accounting.

October is Cybersecurity Awareness Month

October is Cybersecurity awareness month. There are many steps that can be taken to help protect you and your information from a cyber attack. We have compiled a list of things to help an individual protect themselves. Doing just one of these items on the list is beneficial, but imagine how protected you can be if you did them ALL?

Connect Shopify to QuickBooks Online

Connect your Shopify store to QuickBooks Online to automate your accounting.

Automatically Track Mileage with QuickBooks Online

Mileage tracking can be a daunting task, so why not let the QuickBooks mobile app do it for you… automatically!