Welcome to another tax season!

There have not been significant changes for the 2024 tax year when compared to 2023, but there may be some upcoming drastic changes for the 2025 tax year.  The changes from the Tax Cuts and Jobs Act (TCJA) from 2018 expired December 2024, and it is unclear if congress will continue the provisions.  The biggest changes were the higher standard deduction, increased dependent credits, limited deductions for state and local taxes, and changes to bonus depreciation.  It is hopeful that these will continue.

The “Beneficial Owner Information” (BOI) report process has been temporarily suspended.  A lawsuit was filed that challenges its constitutionality.  The reporting requirement was initially enacted through the “Corporate Transparency Act” in 2021, which requires all business to report their ownership.

A good suggestion for everyone, is to get an online account with the IRS.  You have to jump through a lot of hoops to prove your identity, but once your account is activated there is a multitude of information available.  It can help when researching problems, give you access to transcripts, and access to your prior years of filing.  You can also get an Identity Theft Protection Pin that protects you from criminals trying to file a fraudulent return using your social security number and personal information. 

For this tax season, it is not necessary for you to provide me documents for proof of health insurance UNLESS you have insurance through the ACA marketplace (Obamacare).  If you have the ACA health insurance, they will send you a 1095-A form that lists the total premium and your subsidized portion.  This is an important form for your taxes since the calculation can either increase or decrease your taxes for 2024.  ** If you get a 1095-B or 1095-C…. we do not need those forms.

As before, we are not able to make appointments to come in and prepare your tax forms while you wait.  Due to the number of clients we have, it is not possible for us to do this since our desire is to focus on accuracy, not on speed.  However, if there is a question or an issue you need to discuss before we start the process, we are more than happy to take some time to talk when you drop them off.

We truly appreciate that you refer other people to us, but we are still at the point where we cannot take on any more clients.  We feel that if we do, it will begin to negatively impact our quality or service to you.  This year we will be bringing in a young man to begin working for us, and hopefully it will allow us to take in new clients starting next year!

Feel free to drop off your forms, mail them, or you can send them electronically through our secure portal.  If you want to use the portal, send me an email requesting access and I will send you a link to use.  Please do not send sensitive documents by email.  Although my system is secure… I cannot protect you from malicious sources that can get to them before they arrive on my server.

Due to rising costs (of everything) we are raising our preparation fees to $210 this year.  However, if you want to pay with cash we are offering a $5 discount. We are charged for processing checks and credit cards, so cash payments will help us save money also.