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
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.
OUR SERVICES
TAX PREPARATION SERVICES
Preparing your own tax return can be extremely difficult with today’s complex tax laws and the constant changes to regulations and legislation. According to…Read More.
TAX PLANNING SERVICES (for current client only)
Planning for taxes is often a stressful and complicated endeavor for most people. Proactive planning is the key to successfully reducing your potential tax…Read More.
BOOKKEEPING SERVICES
Are you running the business or is your business running you? As small business owners, one must wear many hats. Managing the “books” is one of those hats, which…Read More.
PAYROLL MANAGEMENT
Managing payroll can be time-consuming and overwhelming. Let us help you set up and efficiently run payroll through your payroll services, so you can focus on growing your business. Read More
Schedule A Consultation With A Highly Experienced Local CPA!
Click to Book TodayOn Track for Retirement: Catching Up in Your 40s and 50s
As you enter your 40s and 50s, retirement no longer feels like a distant dream—it's coming into...
Heads Up: Major 1099-K Reporting Changes for Venmo Users in 2024 and 2025
If you're using Venmo for business transactions, it's time to pay close attention to the upcoming...
Tax Saving Strategies: Are you Leveraging Charitable Giving and Retirement Plans?
Looking back at your 2023 income tax return, you might be considering what you could have done...