TAX PLANNING, TAX PREPARATION,

BOOKKEEPING, AND ACCOUNTING

Jeanine Hemingway, CPA is a tax planning, tax preparation, bookkeeping, accounting, and advisory firm located in Austin, Texas. Our goal is to provide each client with professional and personalized service. The firm’s staff are experts in the areas of accounting and tax preparation and planning. We combine sound advice and an innovative approach to achieve our clients’ financial, accounting, tax, and business needs.

Our firm works with clients including startups, mid-market and closely held companies, professional services firms, as well as individuals and families. If you are seeking solid tax, bookkeeping, or advisory services—or a blend of it all, Jeanine Hemingway CPA looks forward to earning your trust and making your life less taxing. Our mission is to provide quality bookkeeping and tax services in a supportive environment.

Thank you for visiting our site. We hope you find it informative.

Curious where the IRS stands regarding your refund? Here is a link: https://www.irs.gov/refunds

Client Document Portal

Payment Portal

Make Your Life Less Taxing: 2021 Tax Planning Strategies

TAX DEADLINES

November/December: Tax Planning Season – Click to Schedule

January 31, 2025 – 1099’s & W-2’s Due

January 31, 2025 – The due date for employers to send W-2 forms. W-2s get sent by January 31, but you won’t necessarily receive your form by this date.

January 31, 2025 – Due date for 1099 forms to be sent to Vendors

March 17, 2025 – Form 1065 & 1120S Due

April 1, 2025 – Required minimum distribution due if you turned 73 in 2024. If you turned 73 in 2024, you have until April 1, 2025, to take your 2024 required minimum distribution.

April 15, 2025 – Tax day

April 15, 2025 – Deadline to File Form 4868 and request an extension. Return due October 15, 2025. Even if you choose to file an extension, you are still required to pay any taxes you may owe by the April 15th deadline.

April 15, 2025 – Deadline to make IRA and HSA contributions for 2024 tax year. (Must be settled by April 15th)

April 15, 2025 – First quarter 2025 estimated tax payment due. (Must be settled by April 15th)

Announcements

401K CHANGE IN 2025

401(k) limits in 2025 have increased to $23,500 and those over 50 can contribute an additional $7.5k (for a total of $31k). IRA’s increased to $7k and $8k for those over 50.

S-Corporations,

In order to stay in compliance, All, more-than-2%-S-Corp owners should be reviewing their payroll compared to their net profitability. We recommend doing it in the middle of the tax year, and once again before the end of the year.

New Unemployment Rates

Send your payroll services your new State Unemployment rate. TWC is now down to 0.25% or $22.50/year.

Employee Retention Credit (ERC) – Voluntary Disclosure Program

The IRS is auditing ERC claims. If you fail an audit, the penalty could be between 20% and 75% of the ineligible claim. If you claimed and received the ERC but you are ineligible and need to repay the ERC, you can apply for the Employee Retention Credit Voluntary Disclosure Program (ERC-VDP) follow this link for details.