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With tax season upon us, documents reporting income, sales and other items needed for your 2022 tax return should have arrived or will be arriving soon. Be on the lookout for them and be careful not to accidently discard any. Here are some of the common tax forms you need to be watching for depending upon your particular circumstances.  Form W-2 - If you were employed in 2022, you wi...

The type of business that you're running has major implications in virtually all areas of your operations, especially when it comes to federal taxes. An S Corporation (or S Corp for short) is one that passes corporate income, losses, deductions, and credits to its shareholders. A C Corporation (or C Corp for short) is one where the owners are taxed separately from the business itself. Having s...

Bowman & Company is excited to welcome Christopher Parker, CPA, to the firm. Christopher joins the Audit team as a Senior Manager and will be working remotely from his home office in Canon City, Colorado. Christopher brings over 30 years of accounting experience and substantial audit experience to his new role. During his career, he has held a variety of positions, including a Financia...

Bowman & Company is thrilled to welcome Nathalie Merhaut, CPA, to the team. Nathalie joins the firm as a Manager, working remotely from her home office in Arizona. Nathalie brings over 10 years of experience in public accounting. She specializes in tax work and has significant experience working with high net-worth individuals, partnerships, C Corps, S Corps, and estates. Nathalie also...

Married taxpayers generally have the option to file a joint tax return or separate returns, a filing status commonly referred to as married filing separate (MFS). If you are married and you and your spouse are filing separate returns, or are considering doing so, you should read this article before making that decision.Depending on whether the taxpayers are residents of a separate or community pr...

Bowman & Company is pleased to welcome Jonathan Odiz, CPA, to the firm. Jonathan will be joining the Bowman team as a Senior Staff Accountant and will be working remotely from his office in Florida. Jonathan brings five years of experience in public accounting with a focus on tax work to his new role. He has significant experience working with forms 1040, 1040NR, 1120-F, 1120-C, 1065, ...

On Tuesday, January 10, the Internal Revenue Service (IRS) announced an income tax filing extension meant to provide relief for Californians impacted by recent historic storms. Currently, 41 out of 58 of the state’s counties are under a federal emergency declaration. The extension allows taxpayers living in any affected counties until May 15th to file their 2022 tax returns and pay an...

Individuals are always looking for tax deductions that can reduce their tax liability. But what is the actual tax benefit derived from a tax deduction? There is no straightforward answer because some deductions are “above the line”, others must be itemized, some must exceed a threshold amount before being deductible, and certain ones are not deductible for alternative minimum tax purposes, wh...

Bowman & Company is thrilled to welcome Alexandra Miranda to the team. Alexandra joins the firm as an Audit Accountant. A graduate of California State University of Stanislaus, Alexandra earned a Bachelor of Science degree in Business Administration and Accounting. Prior to joining Bowman, Alexandra worked for the State of California in the California Department of Tax and Fee Admin...

Bowman & Company is pleased to welcome Adolfo Sequeira to the Firm. He joins the team as an Associate Accountant. Adolfo brings over six years of accounting experience to the firm. Three of those years were spent working in public accounting as a tax preparer and staff accountant. Before joining the Firm, Adolfo worked as a staff accountant at Teresa Johnson & Associates. He wo...