Ray County Accounting & Tax LLC

Ray County Accounting & Tax LLC Ray County Accounting & Tax LLC offers accounting services and tax preparation. Visit our website fo

Ray County Accounting & Tax LLC is owned and operated by James Ford. James graduated from Park University with a degree in accounting in 2010. While attending Park University, he worked in a corporate accounting job for retirement accounts. After graduating, he worked during tax seasons for a local accountant part-time, became the treasurer of his church, and started working with a local business

as the bookkeeper and processing payroll. His current role is an accountant for a Kansas City engineering firm as an accountant for project specific accounting processing of accounts payable, monitoring accounts receivables, and invoicing. James has had experience with General Ledger accounting and reconciliations, accounts receivable, accounts payable, invoicing, contracts, rental agreements, rental income properties, tax accounting for individuals, businesses, estates, and corporations, fixed assets and payroll. Contact James today for an appointment to gain knowledge from his experience to help grow your business or for any tax related questions. https://www.linkedin.com/company/ray-county-accounting-&-tax-llc
https://www.instagram.com/raycoacct/

08/01/2025

Missouri HB 594 includes provisions that exempt retail sales of diapers, incontinence products, and feminine hygiene products from standard state tax. This measure goes into effect August 28, 2025, following enactment. This change essentially reclassifies these items as essential necessities, so the state sales tax rate applied to these items will be reduced from the previous 4.225% to the lower rate of 1.225% that applies to other essential goods like food for home consumption. Additional information may be found here. All relevant tax categories will reflect this new rate on the effective date.

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07/15/2025

Several takeaways from our understanding of the new bill:

"No tax on tips" - this is limited to $25,000 and income below $150,000. The deduction is also available for self employed who typically receive tips in their industry (salons, servers, rideshare, etc)

"No tax on overtime" - this is limited to $12,500 or $25,000 for married filing a joint return and income is below $150,000 of $300,000 married filing a joint return. The credit is on the .5 of the 1.5 pay rate for overtime. Your employer will be providing additional information for you to claim this deduction.

"No tax on Social Security" - this is misleading and should have had better communications from the social security administration and others. For 2025-2028 seniors age 65 or older will receive an additional deduction of $6,000 per person. This will be limited if income exceeds $75,000 or $150,000 for joint filers.

Interest Deduction for New car loans - for 2025-2028 interest paid on new vehicles purchases up to $10,000. The vehicle must be assembled in the US and weigh less than 14,000 pounds. The credit will be reduced if income is over $100,000 or $200,000 if married filing a joint return.

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Address

700 Wollard Boulevard
Richmond, MO
64085

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Telephone

(816) 529-2740

Website

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