To convert from foreign currency to U.S. dollars, divide the foreign currency amount by the applicable yearly average exchange rate in the table below. To convert from U.S. dollars to foreign currency, multiply the U.S. dollar amount by the applicable yearly average exchange rate in the table below. Click image to enlarge

Tax filings this year, so far have outpaced 2013 by 2.5 percent. Refunds are up this year as well, on average by about 18%. The average refund is approximately $3,317.   Correction: The Average Refund has been $3,374. 

We expect to open later this morning (by noon). All morning appointments have been rescheduled to afternoon or later so employees, do not rush to get here. Clients, if you have an appointment this afternoon we anticipate being ready and prepared. Freezing temperatures are predicted to return after midnight (Friday morning) so it appears that…

We will be closed again today. If you had an appointment scheduled, we are offering 1, 2, 3 and 4 o’clock times on Sunday afternoon February 16. If we err, we are going to err on the side of caution. Some of our employees must drive from Huntsville, Oneonta and areas around Marshall County. 

We will be closed today due to the severe weather. It appears that we may be closed tomorrow as well if the predictions for 3″ to 5″ of snow tonight are correct. We had clients scheduled from Birmingham to Huntsville. Clients coming from the north will not be able to make it up Brindley Mountain. It appears…

If you bought, sold or refinanced a home in 2013 there is a document we will need at tax filing time. It’s called a HUD-1 Form. The form is two pages, often it is on the front and back of a single piece of paper. The HUD-1 Form has two columns on it, one for…

Expecting a federal tax refund? Perhaps you should hurry up and file. As House Republicans struggle to coalesce around a strategy for embracing an increase to the nation’s $17 trillion-plus debt ceiling so the nation can keep paying its bills, Democrats on the Ways and Means Committee are floating a new bogeyman if the delay…

Non-business energy credits expired in 2011, but were extended (retroactive to 2012) through 2013 by ATRA. For 2013 (as in 2011 and 2012), this credit generally equals 10 percent of what a homeowner spends on eligible energy-saving improvements, up to a maximum tax credit of $500 (down significantly from the $1,500 combined limit that applied…

Starting with their 2013 tax return, taxpayers who claim deductions for business use of a home (“the home office deduction”) now have another option. Taxpayers claiming the home office deduction are generally required to fill out a 43-line form (Form 8829) often with complex calculations of allocated expenses, depreciation and carryovers of unused deductions. Taxpayers…