NEWS ALERT: Victims of Hurricanes Harvey and Irma: The IRS is Providing Help

Special tax relief and assistance is available to individuals who reside or have a business in the Presidential Declared Disaster Areas. The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. However, affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 866-562-5227 to request this tax relief. Taxpayers not in the covered disaster area, but whose records necessary to meet a deadline listed in Treas. Reg. § 301.7508A-1(c) are in the covered disaster area, are also entitled to relief. In addition, all relief workers affiliated with a recognized government or philanthropic organization assisting in the relief activities in the covered disaster area and any individual visiting the covered disaster area who was killed or injured as a result of the disaster are entitled to relief. Texas —The president has declared that a major … [Read more...]

SJG Announces Senior Tax Accountant Jane Giang Ho Obtains CPA License

Jane Ho

Alpharetta, GA. Aug. 30, 2017 — S.J. Gorowitz Accounting & Tax Services, P.C. (SJG), is pleased to announce that Senior Tax Accountant Jane Ho, has earned a Certified Public Accountant (CPA) license from the Georgia State Board of Accountancy. This respected license ensures that Jane Ho’s knowledge and experience exceeds the qualifications set by the American Institute of Certified Public Accountants (AICPA). “Since joining our firm, Jane has proven to be an incredible addition to the team,” said Stacey Gorowitz, Founding Principal and CEO of SJG. “Every day, she utilizes her powerful skillset and well-rounded experience to help our clients tackle their financial issues. Now that she has the official CPA designation, I cannot wait to see the continued impact she will have on our clients and community.” … [Read more...]

Gorowitz Chosen to Speak at Entrepreneurship and Small Business Summit

Stacey J. Gorowitz, CPA

Alpharetta, GA (PRWEB) — June 29, 2017 — Stacey J. Gorowitz, CPA, Founding Principal and CEO of S.J. Gorowitz Accounting & Tax Services, P.C., has been selected to serve as a Business Financing panelist for Thompson Management Consulting’s 2017 Entrepreneurship and Small Business Summit. The annual summit, which is geared toward “growing and strengthening entrepreneurial endeavors,” will be held July 12 and 13. Gorowitz will serve alongside three other participants in a panel discussing lending requirements, private lending, financial investing and tax planning. Gorowitz will focus her discussion on tax planning and financial entity structure. … [Read more...]

NEWS ALERT: What Financial Records Should I Keep?

Good financial records lay the foundation for mapping business progress, preparing statements, identifying key income sources, tracking deductible expenses, keeping track of property, preparing your tax returns, and supporting the items you report on tax returns. One of the questions we get most often is how long to keep financial documents. Generally, the length of time you should keep a document depends on the action, expense or event the document records. Income Tax Records Well-organized records make it easier to prepare a tax return and help provide important information if your return is selected for examination or to prepare a response if you receive an IRS notice. The information below reflects the statutes of limitations that apply to income tax returns. Put simply, this is the amount of time during which you can amend your tax return to claim a credit or refund, or the IRS can assess additional tax after the return was filed. 3 years from the due date or date filed, … [Read more...]