Tax Services 

Bookkeeping

Site Links

Home

Let us assist you with the complex and constantly changing tax laws.

What's New with the IRS ?

In 2007 changes to the tax laws include those applicable to adoption credits & adoption assistance programs; alternative minimum taxes; charitable contributions; earned income credits; health savings accounts; and others that may affect you.

IRS Says Some Refinancing Costs May Be Deductible!

Generally, for Taxpayers who itemize, the "points" paid to obtain a home mortgage may be deductible as mortgage interest.  Points paid to obtain an original home mortgage can be, depending on circumstances, fully deductible in the year paid.  However, points paid solely to refinance a home mortgage usually must be paid over the life of the loan.  

If part of the refinanced mortgage money was used to finance improvements to the home and if the taxpayer meets certain other requirements, the points associated with the home improvements may be fully deductible in the year the points were paid.  Also, if a homeowner is refinancing a mortgage for a second time, the balance of points paid for the first refinanced mortgage may be fully deductible at pay off.

Taxpayers and tax professionals can check the status of a refund on a new Internet-based service the IRS is testing. It provides secure access anytime from anywhere. Try out this new service select the button:

The IRS has announced that penalties will be assessed on employers filing Forms W-2 with names and social security numbers that don't match the information on file with the Social Security Administration. This begins with the forms filed for 2002. Assessment will be $50.00 PER FORM. Please be sure all employees have completed a W-4 with correct names, social security number and address as well as the required I9.

Did you sell a home or start a business?

Should you take money out of your IRA?

Do you have Rental Property?

Do you have child care issues?

Do you qualify for earned income credit?  

Can you Itemize?

Do you need help closing a business?

Let us take the headache out of April 15th for you.  We prepare both business and individual state and federal income taxes returns. 

Accounting Solutions