Magill Accounting & Tax

04/21/2022

Our office will be closed Friday, April 22nd so that our staff can spend some much needed time with their loved ones. Thank you for a wonderful tax season!

04/18/2022

Happy Tax Day! Stop by today to pick-up your taxes. Our doors are open all day. SmugPug Food Truck will be here serving lunch from 11-2 as well!! Come give it a try!

💛Schedule💛
🌮Thursday 4/14 at 5pm-8pm
🍻Saturday 4/16 1pm-8pm
🌮Monday 4/18 tax and accounting 11am-2pm TAX DAY!

09/08/2021

Minnesota has a new grant for Main Street businesses that is open for applications September 20th and will be taking applications through September 30th. There will be a lottery for whom is accepted after you apply.

The grants range from $10,000 to $25,000 to Minnesotan owned and operated businesses that can demonstrate financial hardship as a result of the COVID-19 outbreak. Here are the qualifications:

To qualify, an applicant must:

-Be private for-profit business or non-profit organization (that
earns revenue in ways similar to a business) with primary
operations located in the state of Minnesota.
-Be at least 50% owned by one or more resident(s) of Minnesota.
-Employ the equivalent of 200 full-time workers or less.
-Be able to demonstrate financial hardship as a result of the
COVID-19 outbreak.
-Minimum total sales or revenue of at least $10,000 for the 2020 or
2019 tax year.

*Financial hardship is defined as follows: your business experienced 10% revenue loss year-over-year between January 1, 2020 and December 31, 2020 vs. the same time period in 2019. The link below includes important information:

This program will make available $10,000-$25,000 grants to Minnesotan owned and operated businesses that can demonstrate financial hardship as a result of the COVID-19 outbreak.

06/23/2021

If you are interested in opting out of the Child Tax Credit Advance Payments please use the IRS portal that is now available to do so. You will need to create an account with the IRS if you do not already have one.

View your eligibility and unenroll from advance payments of the Child Tax Credit.

01/17/2021

We are gearing up for tax season, and are ready to answer all of your tax questions! Give us a call today to schedule an appointment with one of our accountants. We are offering in person and virtual tax appointments, as well as drop off tax return completion. We look forward to working with you!

09/10/2020

Washington County Small Business COVID 19 Relief Fund is now accepting applications today through September 24th. Please see the attached link for more details.

To provide emergency business assistance grants to small local businesses in Washington County adversely impacted by the COVID-19 pandemic, the Washington County Small Business Relief Fund will provide grants of up to $15,000 to employee-based small businesses and $7,500 for self-employed entreprene...

05/27/2020

Ramsey County announced their small business relief fund today. Applications are being accepted now through June 5th. Please use the following link for more information to find out if you are eligible, and how to apply:

Ramsey County is providing emergency assistance to small local businesses adversely impacted by the COVID-19 pandemic. The Small Business Relief Fund will provide grants of $7500 to small businesses most in need of support.

05/08/2020

As of May 6th, 2020 the IRS has updated their website with additional information for stimulus payments sent to deceased taxpayers. The IRS is advising that if a payment was sent to an individual who has passed away, then you should send the payment back to the Treasury. The instructions for this are included in the Q & A section of the link below Q10 & Q41:

Answers to frequently asked questions about Economic Impact Payments (coronavirus stimulus checks). These questions and answers will be updated periodically.

05/05/2020

The MN Chamber of Commerce has information on their website regarding non-escrow property taxes. Please use the link below to find out if your county has deferred property tax payments due to COVID-19:

https://www.mnchamber.com/blog/covid-19-daily-policy-updates

04/15/2020

Individuals are starting to receive their Economic Stimulus payments. Please keep track of what you receive, as we will need that information when filing your 2020 tax return. Please use the following link for more information regarding your payment. Thank you!!

We’re committed to helping you get your economic impact, or stimulus, payment as soon as possible. See if you are eligible for an Economic Impact Payment.

04/09/2020

Support for Veterans
Governor Walz also announced that Minnesota veterans impacted by COVID-19 may be eligible for $6.2 million in financial assistance grants from the Minnesota Department of Veterans Affairs (MDVA).

MDVA is accepting applications from Minnesota veterans who have been financially impacted by the COVID-19 pandemic. MDVA will award one-time financial relief grants in the amount of $1,000.

To apply for the Disaster Relief Grant:

Contact your local County Veterans Service Officer (CVSO) or MDVA Field Operations Representative at [email protected] OR apply online at MinnesotaVeteran.org/COVIDRelief.

To apply for the Special Needs Grant:

Contact your local County Veterans Service Officer or MDVA Field Operations Representative.

03/27/2020

Due to instructions by Governor Walz & his "stay at home" order, our office will be closed to clients beginning 11:59pm Friday, March 27th and will be reopening Monday, April 13th. Our staff will have access to emails during this time and will be working remotely to help with any needs you have. Please contact your accountant via email during this time. Thank you for your support during this difficult time. We look forward to working with you. Please note that the Federal & Minnesota government have extended the tax filing & payment deadline to July 15, 2020. Stay safe everyone!