March 2022

Hello! In each month's issue, we will share and update our clients and community on various things going on at HBS and things that may impact you.

We hope you enjoy!

Message from the CEO!

"Tremendous amounts of talent are lost to our society just because that talent wears a skirt. - "Shirley Chisholm

March is Women's History Month and I want to take a moment to give a HUGE standing ovation, high-five, virtual hug, and "you go girl" to ALL the women out here in this world! Woman, God's BEST creation! And no I am not being biased. God made man first, but knew that joker could not survive without woman. LOL!

Women have been making imprints and changing history for centuries, but oftentimes, just as Shirley Chisholm was stating they are overlooked. Whatever you give a woman she will make more bountiful. Just think, we all have a woman to thank for being nurtured and brought into this world. And let me tell you firsthand, that alone should make anyone bow down.

Women have the unique ability to think beyond what is right in front of them. We serve and multi-task in some many roles and responsibilities. We are visionaries, nurturers, curators, advocators, teachers, warriors, healers, lovers, administrators, defenders, leaders, managers, encouragers and this list can go on and on. We work tirelessly to balance work and home and other relationships. We fight battles in workplaces and in this nation/world just to be recognized as being worthy and valued the same as our male counterparts. And sometimes, more often than not, we fight internal battles that no one can even see or imagine. We are the epitome of strength, beauty, and grace. And we deserve every flower given to us not just within this month but every single day!

So to all my women just know you are HERstory! Keep waking up every single day with your head held high, doing the best of your ability, and making history! Be bold! Be courageous! Be fearless! Be limitless! Just know, the time is coming soon and VERY soon where women will truly be heard, be the key decision-makers, and be the leaders needed to take society/this world to its next step!

~Myranda

Tax filing deadlines are right around the corner!

REMEMBER, YOU are RESPONSIBLE for YOUR TAXES!

HBS will not file an automatic tax extension on your behalf unless our office is notified. All tax extension requests must be made no later than April 10th (for individuals and corporations).

The tax prep filing guide outlines HBS procedures and policies for tax filing through us. It is imperative this guide is read, as we are confident it will help out clients and the overall tax filing process.

Remember tax prep does NOT begin until completed organizers AND ALL tax documents been submitted.

Click image to download the file in The Hub!

How to Access Tax Organizers? Watch video tutorial!

IRS Notices ARE NOT TRASH!

You got a IRS letter or notice. Ok. Stop, breathe, and relax! Don't you throw that letter in the trash! IRS Notices/Letters are NOT TRASH! They require you to open them, read them, take whatever action(s) may be necessary, provide them to your accountant/tax preparer, and KEEP them.

Be on the lookout for these notices and give them to your tax preparer when filing this year's taxes:

IRS Letter 6419 - The IRS plans to send this important notice in late January to those who received Advance Child Tax Credit payments in 2021. This letter includes the total amount of advance child tax credit payments taxpayers received in 2021 and the number of qualifying children used to calculate the advance payments.
IRS Letter 6475 - The IRS will begin issuing Letter 6475, Your Third Economic Impact Payment, to EIP recipients in late January. This letter will help Economic Impact Payment recipients determine if they are entitled to and should claim the recovery rebate credit on their 2021 tax returns when they file in 2022.

Again, no need to panic and DO NOT throw IRS correspondence in the trash!

Where's My Refund?

HBS does not know the status of your refund nor do we have any control over when you will receive your refund.

Use the IRS tool to check your refund status. It's the best way to check the status of your refund.

There is a difference between tax planning and tax preparation.

Tax preparation is a service that helps you file your tax returns. The main goal is to make sure your tax reporting complies with both federal and state tax laws.
Tax planning is a service that helps you optimize your tax situation before reporting. The purpose is to use legitimate ways to optimize your potential tax consequences based on your goals and plans for future.

We are currently in tax preparation season. So gather your documents, your business financials, and complete your organizer(s) to ensure your tax reporting compliance.

We will be happy to assist you in a tax planning engagement! Be sure to ask about our tax planning services!

Be sure to keep up with us!