Hutterer Tax & Accounting

Hutterer Tax & Accounting Our firm provides paramount tax planning and preparation. Additionally, we offer experienced accounting services for your business needs.

02/04/2017

Remember folk, by law, the IRS cannot issue refunds before Feb. 15 for any tax return claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC). The IRS must hold the entire refund, not just the part related to the EITC or ACTC. The IRS will begin to release these refunds starting Feb. 15.

These refunds likely won’t arrive in bank accounts or on debit cards until the week of Feb. 27. This is true as long as there is no additional review of the tax return required and the taxpayer chose direct deposit. Banking and financial systems need time to process deposits, which can take several days.

01/14/2017

Make sure we have your new address if you moved and look for your 2016 tax organizer in the mail.

12/21/2016

Year End Tip - Donate cash by Dec. 31 to deduct the donation this year. Donate non-cash goods such as clothes, furniture or vehicles by Dec. 31 to get a deduction this year. You will need to itemize in order to claim any charitable donations.

Postpone donations until next year if the deduction will produce bigger tax savings in 2017 and you might be able to itemize.

12/15/2016

Year End Tip - Pay your next property tax installment by end of year to deduct it this year. This only works if you are or will be able to itemize AND you're not in AMT

12/15/2016

Year End Tip - Only expenses in excess of 10% of AGI are deductible.
If you're close (but under) the 10% of AGI threshold, consider paying additional medical expenses to get your deduction over the threshold. This way, at least you'll get some deduction rather than none.
If you're over the threshold, additional medical spending will be deductible.

Address

928 Wells Fargo Plaza 7900 Xerxes Avenue South
Bloomington, MN
55431

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

(651) 319-2175

Website

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