Edwards Payroll and Tax, Inc.

Edwards Payroll and Tax, Inc. Contact Debbie Edwards at: [email protected] or 765-284-1040

Edwards Payroll & Tax is a local company that eagerly supports our clients through specialized tax, payroll, and bookkeeping services suited to the needs of each small business or individual.

07/29/2024

As a tax preparer I really hate to see the following tax credit expire for business owners in 2025. I truly hope extending this credit is on the agenda for 2025 and beyond:

Enacted by former President Donald Trump, the Tax Cuts and Jobs Act of 2017 created the qualified business income deduction, or QBI, which is worth up to 20% of eligible revenue, subject to limitations.

The temporary deduction applies to so-called pass-through businesses, which report income at the individual level, such as sole proprietors, partnerships and S-corporations, along with some trusts and estates.

“The hope is that this gets extended because it’s going to be very disruptive for a lot of business owners” if the tax break is allowed to expire, said Dan Ryan, a tax partner at law firm Sullivan and Worcester.

More from Personal Finance:

Tax season has arrived! It’s not too early to schedule your appointment. 765-284-1040
01/15/2020

Tax season has arrived! It’s not too early to schedule your appointment. 765-284-1040

12/22/2017

If you have any questions about the tax law changes please feel free to call me @ 284-1040

Happy holidays and I hope to see you all at tax time!!

12/22/2017

Child tax credit -

For 2018: will be $2,000 per child with $1,400 being a refundable credit. This means the first six hundred goes to any tax liability after your tax is figured and if your liability is over $600 it will take up to the full $2,000 to clear off the liability. If you have no tax liability you will receive the full $1,400 refundable portion of the credit.

12/22/2017

To those who have never itemized deductions and are simple W-2 earners with average income, this tax law will be in your favor.

12/22/2017

If your a W-2 earner and you normally take employee business deductions on you return, it will no longer be allowed for 2018. BUT, since the standard deduction is doubling this will most likely only effect those with substantially high mileage. For all others the standard deduction will be greater than what you would have taken for mileage anyhow so it most likely won’t hurt your pocket book and you probably will end up in better shape with the higher standard deduction than itemizing. This comment is especially for my friend Brandi Valandingham Thomas

12/22/2017

If you normally use Schedule A (itemized deductions), you most likely will not be itemizing after 2017. With that known, I’ve contacted the county treasurers dept in Hamilton county to find out what the cap is on prepaying property tax. You can prepay one year of property taxes, any money over that will be returned with a refund check. You can make January’s mortgage payment in December also to add a little more interest that you can take in 2017.
If you have a favorite charity you may want to give 2018’s contribution in 2017 also. More to come..

12/20/2017

A lot of changes are taking place but the senate has denied three new tax law changes so it goes back to the house.

Btw.... filing taxes on postcards will not be happening. It was killed back in November.

10/12/2017

~ Edwards Payroll & Tax ~

Seeking an experienced tax preparer with three or more years tax preparation experience. Pay will be determined upon skill level.

(765) 284-1040

FYI 🙂
04/16/2016

FYI 🙂

Address

736 S Tillotson Avenue
Muncie, IN
47304

Opening Hours

Monday 9:30am - 6pm
Tuesday 9:30am - 6pm
Wednesday 9:30am - 6pm
Thursday 9:30am - 6pm
Friday 9:30am - 6pm
Saturday 9am - 4pm

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