-
Response to COVID-19
At Cook & Co. Tax Advisors, our clients are like family. And like you, during the past few weeks, I have been focused on doing the things I need to do to keep the clients and employees safe. I want to personally update you on those activities surrounding the situation with COVID-19 (coronavirus). The safety…
-
Taxpayers have the right to challenge the IRS’s position on their taxes
When the IRS makes a determination about someone’s tax return, that person can challenge the IRS’s decision. In fact, the taxpayer has a right to do so. This is one of ten rights laid out in the Taxpayer Bill of Rights. They also have the right for that challenge to be heard by the agency.…
-
Google was kind to us in February!
Google says 124 people asked for directions to our office. Another 149 people visited our website from Google searches. And 152 called us by getting our telephone number on Google.
-
Parents who Adopt can Benefit from this Tax Credit
Taxpayers who adopted or started the adoption process during 2019 should review the rules around the adoption credit. While the amount of the credit increases for qualified taxpayers, the rules remain the same. Here are some facts to help people understand the credit and if they can claim it when filing their taxes: The maximum…
-
Taxpayers should know the signs of a phone scam, especially during filing season
Taxpayers should be aware that aggressive criminals pose as IRS agents in hopes of stealing money or personal information. The tax filing season is a prime time for phone scams because people are thinking about taxes. Here are some tell-tale signs of a tax scam along with actions taxpayers can take if they receive a…
-
2020 Tax Filing Season Update
Tomorrow marks the half-way point and we will surpass 1,000 tax returns filed so far! If you have not yet scheduled your appointment, I want to encourage you to schedule your appointment online now in order to lock-in the time best for you. As we get closer to the filing deadline of April 15th we…
-
April 15 Deadline Extended to July 15 for Tennessee Tornado Victims
Victims of this week’s tornadoes and severe storms in parts of Tennessee, including Nashville, will have until July 15, 2020, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced. The IRS is offering this relief to any area designated by the Federal Emergency Management Agency (FEMA) as…
-
Meals and Entertainment Expenses
Business Meals and Entertainment Section 274(a)(1)(A) generally disallows a deduction for any item with respect to an activity of a type considered to constitute entertainment, amusement, or recreation Start Printed Page 11021(entertainment expenditures). However, prior to the amendment by the TCJA, section 274(a)(1)(A) provided exceptions to that disallowance if the taxpayer established that: (1) The…
-
Phone Traffic at the Office Last Week was 790 Calls
Next Monday March 9th will mark the midway point of our tax filing season. The halfway point for us usually falls on March 10th, however, this year it moves up a day because it’s Leap Year and we had a February 29th that only comes along every 4 years. Phone Traffic at the Office If…
