Quality Tax & Business Partners
Putting Together the Pieces of Your Financial Life
QTBP is OPEN DURING THIS COVID-19 TIME!
ARE YOU EXPECTING A REFUND? LET'S DO IT!
Whether you're getting a refund or owe on either Federal or State, we can still prepare your taxes to see exactly where you stand, thus will allow you to prepare until the extension if needed.
For ADDED SAFETY MEASURES, we offer the following:
CURB SIDE PICK UP - CALL US when you arrive at 781-391-1906
DROP OFF your documents in the office, 84 High St, Medford, 02155
EMAIL us your documents, firstname.lastname@example.org
Upon completion, we will email it to you & call or Face-time you to finish.
We are doing our very best to make coming into the office as safe as possible. We are wiping down everything between clients; our office door is hands free (no need to touch). The number of people in the office is under 8 at any given time.
TAKE A DEEP BREATH... WE ARE OPEN TO HELP YOU!
Quality Tax and Business Partners is a collective team of tax preparers, Enrolled Agents, CPAs, attorneys, mortgage brokers, insurance specialists, college planners and financial planners that take a holistic view of your tax situation to provide you with options and opportunities to better your financial life. Working hand in hand with you through all of your life stages helps to ensure that we can put together all the pieces of your financial life, to bring the total picture into focus, and help you reach your ultimate goals.
INFORMATION REGARDING STIMULUS CHECKS
All U.S. residents with adjusted gross income up to $75,000 ($150,000 married), who are not a dependent of another taxpayer and have a work eligible Social Security number are eligible for the full $1,200 ($2,400 married) rebate. In addition, they are eligible for an additional $500 per child. This is true even for those who have no income, as well as those whose income comes entirely from non-taxable, means-tested benefit programs, such as SSI benefits.
For the majority of Americans, no action on their part will be required to receive a rebate check as the IRS will use a taxpayer’s 2019 tax return if filed. The rebate amount is reduced by $5 for each $100 that a taxpayer’s income exceeds the phase-out threshold. The amount is completely phased out for single filers with incomes exceeding $99,000, $146,500 for head of household filers with one child, and $198,000 for joint filers with no children.
ADDITIONAL ANSWERS TO QUESTIONS WE'VE BEEN ASKED...
Contributions to IRAs and HSAs have been extended to July 15.
Second quarter 2020 estimated income tax payments are still due on June 15. First quarter 2020 estimated income tax payments are postponed from April 15 to July 15.
The relief does not change the estimated tax requirements or estimated tax penalty for 2019.