AGC- Alfermann, Gray, & Co CPAs LLC

06/01/2026

05/28/2026

June is just around the corner and marks the mid-point of the year. Now is a good time for homeowners (and future homeowners) to review eligibility for tax deductions, programs and housing allowances.

Homeowners must itemize their deductions to qualify. Eligible deductions include:

-State and local real estate taxes, subject to a $40,000 limit (or $20,000 if married filing separately)

-Home mortgage interest (within the allowed limits)

Homeowners can't deduct any of the following items:

-Insurance including fire and comprehensive coverage and title insurance

-The amount applied to reduce the principal of the mortgage

-Wages paid to domestic help

-Depreciation

-The cost of utilities, such as gas, electricity or water

-Most settlement or closing costs

-Forfeited deposits, down payments or earnest money

-Internet or Wi-Fi system or service

-Homeowners’ association fees, condominium association fees or common charges

-Home repairs

If qualified for the Mortgage Interest Credit, you can claim a credit each year for part of the home mortgage interest paid. You may be eligible for the credit if you were issued a qualified Mortgage Credit Certificate from your state or local government.

If you serve in the military or are a minister and receive a nontaxable housing allowance, you can still deduct your real estate taxes and home mortgage interest and you do not have to reduce your deductions based on the allowance.

If you have questions, contact our office at 573-364-1700 to schedule an appointment with an AGC CPA professional.

05/21/2026

In observance of Memorial Day, our offices will be closed Friday, May 22 and Monday, May 25.

We will reopen at 8 am on Tuesday, May 26.

05/12/2026

Have you recently received mail from the IRS? If so, it is important to read it carefully and understand what actions to take.

Most letters or notices are about federal tax returns or tax accounts. Letters will outline the specific issue and include steps to take. A notice may reference changes to your account, taxes owed, a payment request or a specific issue on a tax return or credit.

Typically, you only need to act if you don’t agree with the information, if the IRS asked for more information or if there’s a balance due.

Keep notices or letters received from the IRS for three years from the date the tax return was filed.

The IRS will never contact you using social media. The first contact from the IRS usually comes in the mail. If you receive communication via social media – it is a SCAM!

Do you have questions, or are unsure of how to proceed? Your tax professionals at AGC CPA can guide you. Just call our office at 573-364-1700 to schedule a meeting.

05/06/2026

This week is set aside to recognize small businesses. Our local chamber does an amazing job in doing that!! Today they offered free professional head shots and some of our team took advantage. 😊
Thank you Rolla Chamber for all you do for our small businesses and our community!!

05/04/2026

Small Business Week takes place nationwide from May 3-9, 2026. This annual event recognizes the contributions of entrepreneurs and small businesses.

At AGC CPA, we provide support to small businesses year-round, including:

-Business & Financial Consulting
-Tax Planning
-Tax Prep
-Bookkeeping
-Payroll

Let the professionals at AGC CPA help! Just call us at 573-364-1700 to schedule a meeting.

“We help you understand where you are financially, so you are better equipped to make sound business decisions.”

04/23/2026

Received a CP53E notice from the IRS?

It means you didn’t include direct deposit information, it was incorrect or it was rejected by the bank.

Visit www.IRS.gov/directdeposit to learn more.

Still have questions? AGC CPA is here to help – just call 573-364-1700 to schedule a meeting.

Join the 8 out of 10 taxpayers who get their refunds via direct deposit. You can split your refund into one, two or three financial accounts and buy savings bonds too.

04/16/2026

Effective April 17, our new office hours on Friday are 8 am - 1 pm.

We are still open Monday through Thursday, 8 am - 5 pm.

04/15/2026

Tax Season 2026 ✌🏼

Thank you to all of our wonderful clients!!