McNeely Tax and Accounting LLC

01/31/2022

Wondering where your tax refund is? You can check the status of your Federal and Minnesota refunds online.

https://www.irs.gov/refunds

https://www.revenue.state.mn.us/wheres-my-refund

Get information about tax refunds and track the status of your e-file or paper tax return.

12/20/2021

Dependent Care Credit for 2021

The qualifying expenses for the Dependent Care Credit have been expanded for tax year 2021. Up to $8,000 may be used for one child and up to $16,000 may be used for two or more children. Please check out the IRS website for details on this expanded credit.

FAQs about the Child and Dependent Care Credit expansion due to the ARPA.

12/06/2021

Child Tax Credit 2021

Have you been receiving advanced child tax credit payments in 2021? The Child Tax Credit has been expanded for tax year 2021 and may cause changes on your 2021 tax return.

Contact our office to find out how this credit will impact you next tax season.

Find answers about advance payments of the 2021 Child Tax Credit.

11/22/2021

Minnesota Department of Revenue has announced that it is still processing tax returns affected by the recent law changes from July 2021. This affects returns reporting unemployment income and PPP loan forgiveness income.

Minnesota will automatically adjust your return otherwise you will receive a letter requesting that you file an amended return.

We have started the process of adjusting 2020 Minnesota tax returns affected by law changes to the treatment of Unemployment Insurance (UI) compensation and Paycheck Protection Program (PPP) loan forgiveness. For details, read our September 9 announcement about UI and PPP tax refunds.

11/18/2021

We are hiring a Seasonal Office Assistant with part-time opportunity after tax season.

Duties include assembling tax returns, scanning and organizing tax documents, contacting clients, scheduling appointments, processing client payments, bookkeeping and tax preparation.

Pay dependent on experience.

Send resume to [email protected].

11/18/2021

Assemble tax returns, scan and organize tax documents, answer phone calls, schedule appointments, process payments, data entry accounting and tax softwares, reconcile monthly bank accounts, assist with special accounting projects.

04/18/2016

If you haven't filed your income tax return yet, you can still request a 6 month extension. Although you request time to file your tax return, all tax is still due today.

The April 18 tax deadline is coming up. If you need more time to file your taxes, you can get an automatic six-month extension from the IRS. Here are five things to know about filing an extension:  

04/06/2016

IRS YouTube VideosTax Scams: English | Spanish | ASL Security Summit Identity Theft Tips Overview: EnglishBe Cautious When Using Wi-Fi: EnglishUpdate Your Password Regularly: English

04/04/2016

Tax deadline is two weeks away, April 18th! It is not too late to make your tax appointment to prepare your 2015 taxes.

03/30/2016

The state's health insurance exchange has struggled to send out the forms residents need to prove health coverage and avoid a tax penalty...

02/08/2016

Did you start your own business? Do you have a direct selling, home-based business? Are you just curious if an expense qualifies as a business deduction?

To be deductible, a business expense must be ordinary and necessary. Business expenses should be common and typical of your trade or business and be appropriate for your trade.

Business expenses should be kept separate from capital expenses, inventory or cost of goods sold, and personal expenses.

We would be happy to assist your buisness in determining eligible business expenses and reporting capital assets and inventory.

02/03/2016

Did you have costs for higher education in 2015? The IRS has several tax benefits available for taxpayers, saving taxpayers up to $2500. Two tax credits available are the American Opportunity Credit and the Lifetime Learning Credit. The Tuition and Fees Deduction is also available to some taxpayers.

In 2016, a taxpayer will need to receive a 1098-T in order to claim the American Opportunity Credit, Lifetime Learning Credit, or Tuition and Fees Deduction.

Call today to help determine if you are eligible for one of the credits or deduction!