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Scheduling Your Tax Appointment
It really is easier, faster and more convenient to use our online appointment scheduler. But if you want to do it the old fashion way by calling the office at (256) 586-4111, you most likely will speak to Tracie Gilley or Brooke Pounders. Our telephone lines are extremely busy this time of year. We have…
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IRS Plans to Issue Regulations Clarifying Limitations on Carried Interest
The Internal Revenue Service announced that S corporations are subject to the extended three year holding period for applicable partnership interests and that regulations will be issued soon. Carried interests are ownership interests in a partnership that share in the partnership’s net profits. Carried interests often are issued to investment managers in connection with the…
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The Right to Pay No More than the Correct Amount of Tax
Taxpayer Bill of Rights #3 Taxpayers have the right to pay no more than the correct amount of tax they owe. This is one of ten basic rights known collectively as the Taxpayer Bill of Rights. Taxpayers who overpaid their taxes can file for a refund. Taxpayers must file a claim for a credit or…
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Tax Problems?
We can help. Have you ever received a tax document that has bold print that reads “CONSULT YOUR TAX ADVISOR”? Bring it to us! We represent taxpayers if they are audited. We provide tax planning and assist with tax problems. We pride ourselves on being very efficient, affordable, and of course, extremely discrete. Planning is the…
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Anytime is a Good Time to Call Us!
As a reminder, our Tax Season Hours are 8am to 8pm Monday through Friday and 8am to 5pm Saturdays. The new Trump Tax Plan has placed a bit of a burden on us as we explain the ramifications coming in 2018 and how it will impact everyone. So please be patient with us and understand…
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The Bipartisan Budget Act of 2018
Signed in the wee hours of the morning of February 9, 2018 retroactively extended the following provisions (except as noted for certain energy credits) through December 31, 2017. Extension of exclusion from gross income of discharge of qualified principal residence indebtedness. Extension of mortgage insurance premiums treated as qualified residence interest. Extension of above-the-line deduction…
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Week One of the 2018 Tax Filing Season
As of today, February 7th, we’ve filed 256 tax returns. That’s 8 more than this day last year. I’m watching the reports we give the clients regarding the impact of the Trump Tax Plan on their projected outcomes for next year and here’s what I’m seeing: 7 out of 10 will realize tax savings next…
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Tax Season Hours
Our extended hours until April 17 are as follows: Monday through Friday 8:00 am until 8:00 pm Saturdays 8:00 am until 5:00 pm
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IRS Announces 2018 Pension Plan Limitations Not Affected by Tax Cut and Jobs Act of 2017
WASHINGTON — The Internal Revenue Service today announced that the Tax Cut and Jobs Act of 2017 does not affect the tax year 2018 dollar limitations for retirement plans announced in IR 2017-177 and detailed in Notice 2017-64. The tax law provides dollar limitations on benefits and contributions under qualified retirement plans, and it requires…
