Accounting Solutions

09/09/2025

One Week Away! 🚀

Athens-Limestone County entrepreneurs—you don’t want to miss this.

In just one hour, you’ll get the latest tax updates tailored for small business owners, straight from a local CPA who understands the challenges you face. This is your chance to walk into tax season prepared, confident, and ready to focus on growing your business.

👉 Register today: https://athenslaunchbox.com/

10/21/2024

🚨 TOMORROW: Don't miss the Small Business Taxes 101 workshop! 🚨

Hosted by Sarah Simpson, CPA from Accounting Solutions, this session will dive into everything you need to know about 2024 tax filing requirements. Whether you’re new to business or a seasoned entrepreneur, Sarah will provide valuable insights to help you manage your taxes with confidence!

💻 For more information, visit https://athenslaunchbox.com/

💼Don’t miss this chance to get expert advice and make tax season a breeze! 🌟

10/14/2024

📢 Attention Small Business Owners! 📢

Hosted by Sarah Simpson, CPA from Accounting Solutions, this session will dive into everything you need to know about 2024 tax filing requirements. Whether you’re new to business or a seasoned entrepreneur, Sarah will provide valuable insights to help you manage your taxes with confidence!

💻 For more information, visit https://athenslaunchbox.com/

💼Don’t miss this chance to get expert advice and make tax season a breeze! 🌟

03/06/2024

12/21/2023

Need a last minute Christmas gift for a child AND a end of the year tax deduction? Make a contribution to their Alabama 529 account before year-end and get a deduction on your Alabama tax return for 2023!

Now up to $35,000 can be rolled over to a Roth IRA if the child decides not to go to college/doesn’t use the money.

Bonus - Rolled over contributions are deductible as well!

Deduction is limited to $5,000 per taxpayer ($10,000 MFJ).

07/11/2023

Our CPA, Sarah, will be speaking at this networking event Thursday, the 20th. Stop by and hear about tax planning ideas and best practices to track your business revenues and expenses during the year!

Networking time! 🤝

July C3 Networking event is scheduled and ready for your RSVP!

Don’t miss out as we will have Sarah Christopher from Accounting Solutions as our featured speaker.

Bring those business cards and get ready to connect!

RSVP Here: https://facebook.com/events/s/c3-networking-july/3440400732880213/?mibextid=RQdjqZ

05/01/2023

We have a new location! Right down the road from our last office. 103 Spenryn Drive Madison, AL 35758

Meetings by appointment only.

02/24/2022

Governor Kay Ivey signed House Bill 231 earlier today. This bill allows taxpayers to calculate their federal income tax deduction without considering certain credits increased under the American Rescue Plan Act.

The federal income tax deduction will not be reduced for taxpayers who received additional child tax credit, an increase in child and dependent care credits, or earned income tax credit due to the limit increase.

If you have already e-filed your Alabama tax return, your return will be automatically recomputed. If you filed on the MAT system or a paper return, you will need to amend your return when the updated instructions and worksheets are released.

If you did not have child tax credit, child and dependent care credits, or earned income tax credit, your return will not be affected.
For more information: https://revenue.alabama.gov/arpa-tax-relief/

02/22/2022

I am hosting a FREE Webinar with UAH SBDC PTAC Small Business Development Center next Wednesday!

A dive into small business and business owner tax deductions, business entity selection, and how to best prepare your documents for your tax accountant.

If you are interested in attending, you can register here: https://asbdc.ecenterdirect.com/events/9120

12/23/2021

Starting in 2022 and continuing through 2025, Alabama homeowners may be eligible to receive a tax credit for storm shelter installation. The tax credit will be 50% of the cost of installation up to $3,000.

The storm shelter must:
• Be designed to withstand a EF5 tornado.
• Be attached to or on the same lot as the taxpayer’s primary residence. There must not be another qualified storm shelter on the taxpayer’s primary residence.
• Meet or exceeds the most recent FEMA minimum criteria for the design, construction, and operation of residential safe rooms.
• Be built on the site of the taxpayer's primary residence or is manufactured offsite and installed on the site of the taxpayer's primary residence.

For more information: https://casetext.com/statute/code-of-alabama/title-40-revenue-and-taxation/section-40-new-definitions-tax-credit-for-storm-shelters

11/22/2021

A tax deductible donation is a contribution of money or goods to a tax-exempt organization, defined by section 501(c)(3). As a general rule, donations to benefit a specific individual or group are not tax deductible. When you are donating, ask if the organization is a 501(c)(3) charitable organization.

Reminder for 2021: Even if a taxpayer takes the standard deduction, they are allowed an “above the line” deduction of $300 (MJF) or $150 (single, MFS, HOH) for charitable donations. This means you can take the standard deduction AND still receive benefit for your donation. Also, you may itemize on your state tax return due to lower standard deductions. Keep track of any monetary donations or goods donated. With donations to food banks and Angel Tree this time of year, remember to keep your receipts!
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As always, if you have any questions, let me know in the comments! 👇

DISCLAIMER: This post does not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, not intended to provide and should not be relied on for, tax, legal or accounting advice. You should consult your own advisors before engaging in any transaction.