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Our Busy Season is Coming
Our Office will be Closed December 19th until January 2nd. During the last two weeks of the year (Holidays) our office is closed in order to update all of our systems and prepare for Tax Season. During this time, we upgrade all of our computer network, servers and telephone system. Once the calendar rolls over,…
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Business Structures
When beginning a business, you must decide what form of business entity to establish. Your form of business determines which income tax return form you have to file. The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation. A Limited Liability Company (LLC) is a business structure allowed by state…
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Cyber Monday 2022
Cyber Monday is a marketing term for e-commerce transactions on the Monday after Thanksgiving in the United States. It was created by retailers to encourage people to shop online. The term was coined by Ellen Davis of the National Retail Federation and Scott Silverman. The term made its debut on November 28, 2005. Cyber Monday…
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Recent Updates to Our News Service
Improvements to the News Section of our Website are Paying Dividends. The article you are reading was created, published and hosted on our own webserver right here in Arab, Alabama. Running your own webservers is not for the faint of heart, but it’s something I’ve been doing since 1994. So much has changed over the…
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Year End Bookkeeping
November 26th through December 15th is the time to contact us… If you are contemplating year-end strategies to lower taxable income, a thorough review of your year-to-date financials is required as a prerequisite. As a reminder, our office will be closed for two weeks during Christmas and New Year’s. It is a time when all…
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401-K and IRA Limit Increases for 2023
The amount individuals can contribute to their 401(k) plans in 2023 will increase to $22,500 — up from $20,500 for 2022. The income ranges for determining eligibility to make deductible contributions to traditional IRAs, contribute to Roth IRAs, and claim the Saver’s Credit will also all increase for 2023. Here are some of the changes…
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Form 1099-K Changes for 2022
Now a single transaction exceeding $600 can trigger a 1099-K. Prior to The American Rescue Plan Act of 2021, Form 1099-K was issued for third-party payment network transactions only if the total number of transactions exceeded 200 for the year and the aggregate amount of these transactions exceeded $20,000. Now a single transaction exceeding $600…
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Happy Thanksgiving
Our office will be Closed Wednesday and Thursday this week. After a long search for a good and short Thanksgiving poem, I gave up and decided to share one of my favorites instead. It’s unlikely that we have snow at Thanksgiving, but it’s a nice thought. Stopping by Woods on a Snowy Evening Whose woods…
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Working Remotely with Us
The pandemic of 2020 and 2021 resulted in many of our clients working remotely with us, and this trend continues post-pandemic. Transitioning from in-office visits to working with us remotely to prepare and file your tax returns can be an easy process. We have learned a lot over the last three tax seasons. In the…
