Ams Business And Personal Consultant

03/13/2026

03/13/2026

03/27/2024

Cheers to 20 years of serving Utah clients with their tax needs.
It can be done. Thanks for your trust

01/27/2024

Should I wait to file my taxes?
It's anyone's guess whether the proposed changes will become law. And until the changes are actually approved by Congress and signed into law, you may wonder if you should hold off on filing your tax return. "Unless you're really, really hurting for money, I would wait to see what happens," Duke Alexander Moore, founder of tax service Duke Tax, told CNET.

Those who receive the child tax credit typically don't receive their tax refunds as soon as those who aren't claiming the credit, but instead get their refunds mid-February or later. If you do decide to file early and the new child tax credit rules get approved, the IRS may send you the difference this year or you could claim it next year when you file, Moore said.

On the flip side, the IRS told CNET it recommends filing as soon as you are ready, whether considering pending legislation or not. Lisa Greene-Lewis, a CPA and tax expert at Intuit, maker of TurboTax, agrees because there are other credits available for parents beyond the child tax credit they can take advantage of, such as the earned income tax credit.

If the changes do become law, Greene-Lewis told CNET the current proposal suggests that the IRS might be able to make adjustments on its end without requiring impacted tax filers to amend their tax returns.

Always consult with your tax advisor for your individual tax needs.

01/27/2024

Will Congress expand the child tax credit in 2024?
As part of a massive COVID-19 aid package, Congress in 2021 temporarily expanded the child tax credit, which helped drive child poverty to a record low. Congress didn't extend the expanded credit in 2022, and the credit returned to its pre-pandemic rate.

If approved, the new rules around the $2,000 child tax credit would cover three tax years: 2023, 2024 and 2025. That means you could claim the expanded credit this tax season when you file your 2023 tax returns.

As proposed right now, the new child tax credit would continue to be partially refundable (meaning, for a part of the credit you could get a refund even if you didn't owe any tax), and the new rules would increase the maximum refundable amount per child from $1,600 per child to $1,800 in tax year 2023, to $1,900 in tax year 2024, and to $2,000 in tax year 2025, with the 2024 and 2025 amounts adjusted for inflation.

The remainder of the $2,000 after the refundable amount ($200 for tax year 2023) would be nonrefundable, meaning you could only use the tax credit against taxes you owe -- after your tax bill hits $0, you won't get additional money.

01/17/2023

Tax season 2022 it's on it way, Our office is open for you, please call us to make an appointment.
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12/22/2022

https://www.msn.com/en-us/money/taxes/how-new-irs-rules-could-affect-venmo-zelle-and-cashapp-users/ar-AA15wCp9?li=BBnb7Kz

WASHINGTON — This year, Dennis Turbeville, a woodworker in Washington, used the mobile payment service Venmo to sell his wares, collect payments on a rental property and split personal expenses with family and friends. He carefully tracks income for his business, Austen Morris Custom Furniture, wi...

12/10/2022

https://www.msn.com/en-us/money/personalfinance/taxpayers-filing-their-2022-taxes-could-be-in-for-a-refund-shock/ar-AA156ncs

While many are getting ready to begin filing their 2022 taxes at the start of the New Year, it is likely that the refund they receive this year will not be as big as the refund they received last year.

11/23/2022

https://www.msn.com/en-us/money/taxes/irs-increases-tax-breaks-for-gifts-estates-and-capital-gains/ss-AA14qVyO =5

These changes mostly affect wealthy taxpayers, but some middle-class folks also likely will benefit.

11/14/2022

https://www.irs.gov/newsroom/irs-ci-releases-fy2022-annual-report-highlighting-more-than-2550-investigations-90-conviction-rate-enforcement-actions-focused-on-tax-fraud-money-laundering-cybercrimes

IR-2022-194, November 3, 2022 — In fiscal year 2022, IRS Criminal Investigation initiated more than 2,550 criminal investigations, identified over $31 billion from tax and financial crimes, and obtained a 90.6% conviction rate on cases accepted for prosecution.

11/14/2022

https://www.irs.gov/newsroom/irs-announces-job-openings-to-hire-over-700-new-employees-across-the-country-to-help-taxpayers-in-person

IR-2022-197, November 9, 2022 — In addition to the more than 4,000 people recently hired to fill critical customer service representative positions, the Internal Revenue Service is now seeking over 700 new employees to help taxpayers at Taxpayer Assistance Centers across the country.