Advanced Accounting Tax & Financial Services,LLC

12/22/2020

LOOKS LIKE BUSINESS MEALS ARE 100% DEDUCTIBLE UNTIL JANUARY 1, 2023 !!!

It's not law yet

Consolidated Appropriations Act, 2021

It's almost 6,000 pages that we're pouring through to find all of the tax loopholes Congress has hidden

Like little Christmas presents

We'll keep you updated!

04/10/2020

How non-filers can add their direct deposit information for the stimulus check.

Steps to receive the Economic Impact Payment if you haven't filed a tax return for 2018 or 2019, and aren't receiving Social Security, SS Disability Income or Railroad Retirement benefits. This payment is also referred to as "stimulus checks" or "coronavirus relief."

03/26/2020

03/19/2020

The Senate just passed the Families First Coronavirus Response Act. It goes to the President, and he said he would sign it.

As I study the details I will keep you posted.

Some Provisions include tax credits for small businesses. As soon as I know, you will know.

03/18/2020

Be careful where you get your news! The IRS filing deadline has NOT been extended--Despite what some of the big 4 accounting firms are saying. There's a lot of misinformation out there.

We are still awaiting official announcement and I will send out an email to all of my clients tomorrow once the treasury departments announces guidelines.

We will only rely on the treasury department and their website at IRS.GOV for our guidance

https://buff.ly/3dabmfs

As rumors fly about tax relief in response to the coronavirus, tax professionals - including me - have been encouraging taxpayers to proceed with caution.

03/16/2020

I am monitoring the tax changes that are implemented because of the virus on the official website for the IRS. Twitter, CNN, Fox are not official, trust worthy nor do they explain ALL the details of who/what/when someone qualifies for extensions/credits/etc.

At the same time, we are in the middle of tax season and trying to push through the work load already in-house and prepare for the remaining work to come.

As soon as I know anything, I will connect with you. In the meantime, please don’t clog up my email with suspicion/rumors or guesses on what the IRS/Congress or the President might do as it slows me down unnecessarily.

Stay Safe, stay healthy, stay sane...

02/22/2020

Hugh showed little emotion in court Thursday

02/20/2020

The Swiss private banking unit of HSBC will pay $192.4 million to resolve a U.S. tax evasion probe.

02/18/2020

$8.41. That was how much 83-year-old Uri Rafaeli, a retired engineer, in Michigan underpaid his property taxes by in 2014. That was all it took for him to lose his house.

02/16/2020

91 Fortune 500 companies managed to avoid paying taxes in 2018 under the new Tax Cuts and Jobs Act (TCJA).

02/14/2020

The IRS goes after taxpayers who can least afford payment, some critics say.

02/12/2020

The Standard Deduction for 2020 The size of the standard deduction you are allowed to take will depend on the filing status of your tax return for the year.