Odessa Tax and Accounting LLC

02/23/2025

Are you eligible for the Saver's Credit? IRS Form 8880 will help you determine if you are eligible this credit for retirement savings. Here are the details.

01/30/2025

https://www.msn.com/en-us/money/other/irs-refund-tracker-estimated-refund-time-based-on-e-filing-date/ar-AA1y8MOp?ocid=msedgntp&pc=DCTS&cvid=f6e2de61d015467dfc75be22e4b9dc55&ei=80

Tax refunds are usually issued within 21 days. Use the IRS "Where's My Refund?" tool to track your refund status.

01/29/2025

For some reason this question comes up occasionally. Is there an age limit where you don't have to pay income taxes any longer?

Income taxes aren't determined by age, so you will never age out of paying income taxes. Income taxes are INCOME based so you could be 200 years old and if you make enough of the right kind of income, you could be required to file an income tax return and pay income taxes. In addition, even if you don't make enough income to file a tax return or pay income taxes, you might qualify for the Missouri Property Tax Credit and get money back from the state based on your household income and your real estate tax or rent payments.

Odessa Tax and Accounting LLC 816-230-0014

11/27/2024

If you need assistance filing your Fincen Beneficial Ownership Information, please read the link below. If we can further assist you, please call for an appointment. 816-230-0014. There is a charge for our assistance. https://www.fincen.gov/sites/default/files/shared/BOI_Small_Compliance_Guide.v1.1-FINAL.pdf?fbclid=IwY2xjawG0IrJleHRuA2FlbQIxMQABHXsYO8_8uj8R4T_J1tSJHXW0O97p1EeEwIwOdv_DHTQ73GWDQu4QDvFVzw_aem_YuxSkawJF3w6NM5Diu97VA

06/26/2024

I have received a couple of calls regarding a bogus claim about advance child tax credit payments starting in July 2024. It is not true.

The program mentioned in the social media posts was part of the American Rescue Plan and ended in 2021.

04/23/2024

https://www.msn.com/en-us/money/markets/millions-of-salaried-workers-will-be-eligible-for-overtime-pay-under-new-biden-rule/ar-AA1nxtwF?ocid=msedgntp&pc=DCTS&cvid=57b364706438433ac3455933347a86af&ei=32

The Biden administration has finalized a new rule set to make millions of more salaried workers eligible for overtime pay in the U.S.

02/20/2024

I can't say enough good things about Bailey Simonetti. Sunday was the anniversary of her 6th year at Odessa Tax and Accounting LLC. Her knowledge, hard work, and concern for every client has made her an important part of our firm. Thank you Bailey for everything you do!

01/19/2024

Just had a dialog with someone and he asked what a MOWFTC form was. After inquiring where he was coming up with the letters in order to try to figure out what he was talking about, he said he was using an online program to do his taxes and it said to attach his MOWFTC form to the return and he didn't know what that was. Failure to take advantage of the MOWFTC could amount to the loss of several hundred dollars. Use of those free file programs might cost you several hundred dollars if you fail to take advantage of deductions or credits that you are entitled to take. MOWFTC stands for the Missouri Working Family Tax Credit and it amounts to 10% of your federal earned income tax credit. Odessa Tax and Accounting LLC 816-230-0014

01/12/2024

Extended office hours effective 1/15/2024. 9 am to 8pm Monday to Thursday. 9 am to 5pm Friday. 9 am to 12 pm Saturday.