Okoye & Associates, LLC

Okoye & Associates, LLC The company provides financial consulting services, financial statement services, corporate & individual tax returns & IRS tax representations.

11/13/2018

Did you know that the 2018 corporate and individual tax filings will be here soon rather than later? Corporate returns will be due March 15, 2019, and individual returns will be due April 15, 2019. Don"t delay or procrastinate. Start now to prepare for your 2018 tax filings. Consult with your preparer now, and don't wait until the year runs out. With all kinds of compliance brought about by the Tax Cuts and Jobs Act (TCJA), tax preparers will have their hands full and the best time to get on their calendars will be now before the year runs out. And if you own a small business, now is the time to get a good handle on your expenses. Waiting until the last minute can cost you valuable deductions. Vet your deductions with your preparer because there some expenses you think are deductible that may no longer be deductible under the TCJA. Do you have to pay estimated taxes to avoid potential penalties? Do it now before the year runs out!

08/27/2013

Question: Under the Affordable Care Act, how many types of health plans will marketplaces (fka exchanges) offer when open enrollment begins October 1, 2013?

Answer: Four. Platinum plan pays about 90% of cost, Gold plan pays 80%, silver pays about 70% and bronze pays about 60%

08/26/2013

Question: How will your doctor's office be similar to your tax preparer's office come 2013 tax season?

Answer: You will be asked to provide proof of health insurance.

08/26/2013

As the October 1, 2013 registration deadline in marketplaces loom, it is important to understand the key terms of the Affordable Car Act (ACT). Here are two important ACA terms:

1. Minimum Essential Coverage - this is the type of health insurance coverage an individual must have to meet the individual responsibility requirement under the ACA. Failure to meet the minimum essential coverage will result in the individual paying a penalty. How will this penalty be assessed and collected? On your 2013 individual Form 1040.

2. Federal Poverty Level - this is a Department of Health and Human Services (DHHS) issued measure of income levels. A premium assistance credit is available to those with income levels up to 400% of the federal poverty level. For 2013, these levels are $45,960 for a single taxpayer and $94,400 for a family of four.

Address

5010 Sunnyside Avenue, Ste 210
Beltsville, MD
20715

Opening Hours

Monday 9:30am - 6pm
Tuesday 9:30am - 6pm
Wednesday 9:30am - 6pm
Thursday 9:30am - 6pm
Friday 9:30am - 6pm
Saturday 11am - 6pm

Telephone

+13013527333

Website

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