Total Tax Solutions

12/28/2022

You must report all INCOME trust me the IRS will find it

If you don’t the IRS may issue you out a letter after you received your refund. Stating that they have received third party income. In most cases you will owe them.

Reporting rules changed for Form 1099-K. Taxpayers should receive Form 1099-K, Payment Card and Third Party Network Transactions, by January 31, 2023, if they received third party payments in tax year 2022 for goods and services that exceeded $600.

12/28/2022

Read carefully and EXPECT returns to be smaller

•Those who got $3,600 per dependent in 2021 for the CTC will, if eligible, get $2,000 for the 2022 tax year.
•For the EITC, eligible taxpayers with no children who received roughly $1,500 in 2021 will now get $500 in 2022.
•The Child and Dependent Care Credit returns to a maximum of $2,100 in 2022 instead of $8,000 in 2021.

11/04/2022

Beware ⚠️

Cash app will issue a 1099k hence why you might see that you are receiving monthly statements from them.

1099k is a federal form you must report on your federal income tax return. Failure to do so they might send you a letter later saying you owe money.

I have prepares availabile 24 hours of the day to assist with returns.

We are doing holiday loans starting December 20th for NEW clients only!

Total Tax Solutions
Success Tax Solutions

648 Chelsea Ave
901-450-9191

10/29/2022

Hello Total Tax Clients,

As we prepare to open our doors this tax season. We want to send a special thank you for clients who has supported us by writing reviews.

We will keep you updated on new tax laws and credits in the meantime.

Holiday, pre season and in season loans are available!

Thank you for your continued support!

07/19/2021

🚨🚨Total tax solutions does not have any control over CTC (child tax credit) payments.

🚨🚨According to the IRS everyone has not received payment but the payments are going out.

🚨🚨I highly encourage any of my clients that are having issues with payments to direct those concerns to the IRS.

🚨🚨Use the IRS tools you update payment information. If you did not update payments. Payments are expected to be mailed to the address on file.

🚨🚨If your children were filed on a completed 2020 tax return and you did not OPT out of payments.. you should be eligible. Again to verify eligibility you would have to contact the IRS. My office isn’t privy to that information.

07/19/2021

Starting a business.... need help?

1. Come up with your Business Name
2. Where will your business be located → this will be your address or use a virtual address
3. Apply for your LLC - if using your home address you can be your own Registered Agent
if using any Virtual address i advise to hire a registered agent.
4. Apply for your EIN - its free www.irs.gov
5. Apply for your DUNS number- its free
6. Make a business logo
7. Get a business telephone number Local and Toll Free
8. Register your business number with 411
9. Get your business a simple 1 page website, unless you need something with more
pages.
10. Create a business email- something professional [email protected]
11. Find your Naics - Sic Code ( you need this when opening bank account)
12. Open a Business Bank Account
13. Freeze your Personal Credit
14. Make Social Media accounts for your Business - Facebook, Twitter, Instagram etc etc
15. Add your Business to Yelp
16. Establish Business presence with Google
17. Add your Business to Binng

Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities.

07/19/2021

🚨🚨As everyone knows, the IRS has started to process the Child Tax Credit advance for taxpayers. The link in which the taxpayer can use to opt out of the advance payments and they can also update bank account information to ensure they receive their funds into their own personal account.

🚨clients and potential clients

that this is an advance on next year's Child Tax Credit. If the taxpayer does not opt out, this will affect their refund on next year.

Child Tax Credit Facts

Advances are not subject to offset for: Federal or state tax debts/Past due child support

Advances are subject to garnishment

Payment frequency – Monthly beginning on July 15 followed by August 13, September 15, October 15, November 15, December 15

A letter informing the taxpayer how much Advance Child Tax Credit they received in 2021 will be sent to the taxpayer by January 31, 2022.

The IRS has created the following tools in relation to the Advance Child Tax Credit:

Child Tax Credit Update Tool

Individuals who are eligible to receive the Advance Child Tax Credit payment can use this tool to do to opt out of payments. If the taxpayer elects to opt out, they will receive their full credit when they file their return next year.

Child Tax Credit Non-Filer Sign Up Tool

This tool is designed to help eligible individuals who do not normally file tax returns register for the monthly Advance Child Tax Credit payments. It is an update of last year’s IRS Non-filers tool that was used for the Economic Impact Payments. This tool is for individuals who did not file a tax return for 2019 or 2020 and who did not use the IRS Non-filers tool last year to register for Economic Impact Payments.
https://www.irs.gov/credits-deductions/child-tax-credit-update-portal?fbclid=IwAR34g8Qg1oe0BauPIkeI2u7ohqT87zDMtlu7VRCtkt4vNEMA9L_aKt0EZN0&inf_contact_key=0919f103ca4a7ac7b785f5a0773530c3b7af0999dac2af6212784c39e05d2aef

Unenroll if you don’t want to get advance Child Tax Credit payments or check if you’re enrolled.

07/16/2021

I’ve had a few clients to report CTC payments are hitting those accounts!

07/13/2021

Total Tax Solutions has been providing clients personalized tax and accounting services throughout the mid south. With our certified training and expansive financial knowledge, we are equipped to handle all of your accounting needs, no matter how complex. Whether you require assistance at the corporate or personal level, we are ready to serve as your tax planners and accounting advisors.

07/13/2021

Last tax season...we experienced so many changes due to COVID 19. The experience was frustrating for some clients. We really understand and continue reading for ways how we are helping. Before we start, we would like to say thank you to each and everyone of you for trusting us here at total tax solutions. Our company is growing daily and we wish to continue to provide the client care and support throughout the mid south and surrounding areas!

Have you received your return?

Update: World wide the IRS are still processing and funding returns to date. The IRS will pay interest on returns that are still being processed after the tax deadline. We understand that this process is very frustrating. We are doing everything we can to help. Often times those cases are limited once the return has been transmitted to the Internal Revenue Service. Rest assure, that we will help rectify your tax situation!

This is what we are doing?

Our company do not close until the last client receive their refund or an IRS letter. We are still closely monitoring each client that was affected by this delay. If you do not have any idea what’s going on. Please contact the IRS immediately.

What we are advising our clients to do?

We are asking our clients to pay close attention to the mail and continue to check your IRS transcript for any changes.

Different types of letters

Additional documentation

If you receive any letters from the IRS you must respond to the IRS. Please provide any requested documentation before the deadline on the letter.

60 day review

Normally, 60 day reviews doesn’t require any documents. If you have not received or heard anything after 60 days. Contact the IRS immediately.

ID verification

If you receive ID verification letter. The IRS will not release your funds until you have successfully completed the verification process. You have the choice to complete online, schedule appointment or over the phone

If your return was successfully transmitted to the IRS and you have any questions please contact us!

07/13/2021

Year round solutions!

You can’t make ends meet til tax time?
Are you looking for a reliable company you can trust?

I will always go the extra mile for my clients..
providing more than an experience!

Make us not only the right choice but your only CHOICE!!

07/11/2021

Total tax solutions has helped and resolved many scam cases across the globe. Providing clients with relief during such a stressful time. We understand scams and audits are on the rise. We are educating clients to ask the right questions when selecting a tax firm..

Contact is today 901-450-9191