Thomas PM Perry CPA, LLC

05/30/2024

We finally have an IRS disaster declaration related to the storms in Texas earlier this month. This means that if you are located in one of the Counties listed, the majority of the filing and payment deadlines have been extended to November 1st. Please make an appointment via our website if you would like to discuss your situation in more detail.

TX-2024-13, May 28, 2024 — The Internal Revenue Service announced today tax relief for individuals and businesses in Texas that were affected by severe storms, straight-line winds, tornadoes and flooding that began on April 26, 2024. These taxpayers now have until Nov.1, 2024, to file various fede...

08/30/2023

While the credits for buying an electric vehicle and installing a home charger sound great, it is prudent to have your CPA run a tax projection before committing if the main reason is said tax credits. While a 30% credit for a charger is often touted, in reality, if you install it in the same year as you buy your vehicle, you could be in for a shock come tax time.

The reason? To qualify to claim it, you have to calculate what your tax would be under the alternative minimum tax system. If your adjusted AMTI is at a certain point (very likely in the year you buy the vehicle), the credit is disallowed.

The worst part? Under current legislation, it will not carry over meaning it is gone forever.

Contact us today, if you would like us to run the numbers before you make a decision on your next vehicle, that may not be as financially great as it sounds.

As a note, I have an EV myself and ran the numbers prior, but I am seeing more and more clients caught out and disappointed by the dark side of this credit that no one talks about.

01/14/2023

Get in contact today to upgrade your CPA!

Www.tpmperrycpa.com

12/27/2022

Book a free introduction today at the link below!

https://www.tpmperrycpa.com/appointments-2

11/02/2022

Book a free introduction today at the link below:

https://www.tpmperrycpa.com/appointments-2

10/16/2022

Contact us today for all your tax planning needs!

https://www.tpmperrycpa.com/tax-planning

08/26/2022

Have you still not filed your 2020 tax return? If not, now is a critical time to get it done. The IRS has announced that they are going to waive the failure-to-file penalty, which would be 25% of tax due as long as you are filed by September 30, 2022. While you will still pay the failure-to-pay penalty, that is only 6% per year, so filing and paying before September 30 will mean your penalty is only 9.5%, rather than 25% by filing after. Depending on your situation, we may also be able to have that 9.5% penalty abated or reduced.

Contact me today and make an appointment. While most CPAs are too busy right now to take on prior year 1040’s, I will get started right away.

The IRS will waive penalties for many Americans who late-filed tax returns during the pandemic. Here's how to know if you qualify.

07/18/2022

Did your CPA extend your return? Are you still waiting to have clear guidance on when it will be finished despite your efforts to get the data in? If so, it may be time to consider shopping elsewhere and finding a CPA that cares about you, not just your money.

I turn all my returns around within 5-7 business days. They are efficient, accurate and backed by my audit/tax preparer error guarantee at no extra cost to you. Don't feel like you need to wait around until your CPA can fit you in; contact me today and we can get started right away. I specialize in business and individual taxes.

Book an appointment today. Whether you are a new or existing client, I have an option for you. Please book some time to speak to me today via the links to the left.If you do not see a day or time that works for you, please use the contact form to get in touch. I am happy to work around your schedule...

07/06/2022

Did you follow the list below when picking your tax preparer for 2021? Were you happy with your choice? If the answer to the second question is no, let's talk and see what I can do to help you for 2022 and onwards.

05/05/2022

Fun fact. For the new clients I have taken on this year, I have amended 1/3 of their prior year returns that were either self prepared, or prepared by one of HR Block, Jackson Hewitt, or a non CPA tax preparer. While these services can prepare an accurate return with what they are given, they don’t take into account what you do not give them.

That’s where using a CPA can really pay dividends. Each amendment I have filed has legally gotten the client back a minimum of 4x my fees for the amendment services. All for something they had no idea about.

Contact me today for more information.

https://www.tpmperrycpa.com

Do you feel that a prior year tax return was not prepared properly, or that you overpaid in tax? Get in contact today and we can help you reclaim any overpaid tax.While websites such as Turbo Tax and Tax Slayer, plus block preparers like HR Block and Jackson Hewitt offer low cost returns with “gua...

04/18/2022

Today is the day. If you’ve not filed yet, be sure to send in an extension to avoid the failure-to-file penalty which runs at 5% per month of the tax unpaid. Also, note that filing an extension only extends the time to file, not the time to pay. Based on current rates, you’re looking at around 0.83% per month of the balance due in the failure-to-pay penalty and interest. If you need help, reach out today.

03/30/2022

We’re rounding third base on tax season with only three more weeks to go until the deadline. I am an experienced, licensed CPA offering fully remote tax preparation services for individuals and businesses. Wherever you are and whatever States you need to file in, I can help. Reach out today for a free estimate with no strings attached.

Individual or business tax preparation.