AM Accounting & Tax Services LLC

02/06/2026

Partnerships and S Corporations must file their tax returns on time...or else. Here is the penalty.

Over the past few years, the IRS has penalizing late filers of sub S corporation and partnership tax returns. This despite the fact that late filing of the tax return does not typically impact the timely payment of the tax.

02/04/2026

A little preparation can make tax season smoother. This month's newsletter shares tips for early organization, avoiding IRS issues, cutting hidden costs, and helping protect your kids online.

A little preparation can change the entire tax return experience. In this month's newsletter, read about how getting organized early with a clear checklist can help you gather the right information and avoid last-minute pressure. You'll also learn how spotting easy-to-miss income sources can help yo...

01/30/2026

Understand contemporaneous or pay the price. An IRS term with meaning.

The Internal Revenue Service has a vocabulary of their own. One of the more important is their use of the word "contemporaneous". What does it mean, and why should you care?

01/23/2026

The 10% early withdrawal penalty does not always need to sting you. Here are ways to leverage retirement assets without that penalty.

While it is not a good idea to tap retirement accounts prior to retirement age, sometimes it cannot be avoided. What can often be avoided, however, is the punitive 10% penalty for early fund distributions. Outlined here are exceptions to the 10% penalty rule.

01/16/2026

The IRS increased the standard business mileage rates for 2026. Here are the details.

Here are the standard mileage rates for 2026.

01/09/2026

Reminder: Q4 estimated tax payment is due Thursday, January 15, 2026.

Plan now to make your 4th quarter estimated tax payment.

01/08/2026

The announced Monday, January 26, 2026, as the opening of the nation’s 2026 filing season. You will have until Wednesday, April 15, 2026, to file your 2025 tax returns and pay any tax due. Don’t forget that IRS.gov has online tools and resources you can use before, during and after filing your federal tax return. For a list of filing season tools, reminders and resources, read: https://ow.ly/1yqq50XTweL

01/07/2026

Smarter tax moves, simple ways to stay organized during tax season, solid money ideas, and tech changes already shaping daily life. Here's a quick read with value that lasts beyond January.

Happy New Year! With the holidays behind us, it's time to summarize last year's activities and prepare to file your 2025 tax return. So as you wait to receive the needed documentation, why not consider squeezing in a tax-savings New Year's resolution? This month's newsletter outlines three to consid...

01/02/2026

The time to organize your tax records is now. Here are some suggestions.

Looking for some ideas to make filing your taxes less cumbersome? Here are some tips.

12/26/2025

Holiday season also marks the start of tax identity theft season. Here are some tips.

Now is tax theft season. Here are some tips to ensure you aren't snared in their trap.

12/19/2025

Now is the time to plan next year's retirement contributions. Here's what you need to know.

2025 contribution limits are set for retirement plans. Now is a good time to plan your upcoming retirement contributions.

12/12/2025

The IRS announced details of the new savings accounts for children and the free $1,000 deposits into the accounts. Here is what you need to do now.

An IRS notice outlines key details of new Trump Accounts and the $1,000 seeding of accounts for newborns. Included is a recent announcement of a special $250 contribution to children ages 10 and under. Here are key details.