Modie & Associates

11/15/2018

There are many new changes taking place in the upcoming 2018 tax year. For Individuals,there are new lower income tax rates, increased standard deduction, limited itemized deductions, no personal exemptions, increased child tax credit, alternative minimum tax changes. For businesses the corporate tax rate is cut to 21% and corporate AMT is eliminated.There is also a new deduction for non corporate taxpayers with qualified business income from pass through entities. Also small business taxpayers can immediately expense more of the cost of certain business property in the year they are placed in service. The tax cuts and jobs act (TCJA) made tax law changes that will affect virtually every Individual and business in 2018 and the years ahead. Now is a good time to start planning in order to be able to take full advantage of what may benefit you or your company most. Call and make an appointment to see how we can assist you with your tax planning needs.

08/14/2017

08/25/2016

08/16/2016

We have moved! Please visit us at our new location which is now 4144 Holiday St. NW Canton OH 44718.

04/12/2016

Have you filed your 2015 taxes yet? 2015 Tax returns are due Monday April 18, 2016. Feel free to contact us if you need assistance filing your taxes.

01/31/2014

Today starts the day for filing your federal 2013 tax returns!!!

08/10/2012

IRS summertime tax tip for individuals taxpayers to remain organized. Keep records that support items on your tax return for at least three years after that tax return has been filed. Examples include bills, credit card and other receipts, invoices, mileage logs, canceled, imaged or substitute checks or other proof of payment and any other records to support deductions or credits claimed. You should typically keep records relating to property at least three years after you’ve sold or otherwise disposed of the property. Examples include a home purchase or improvement, stocks and other investments, Individual Retirement Account transactions and rental property records.

08/10/2012

IRS summertime tax tip to keep small business owners organized. It is important to keep all your employment tax records for at least four years after the tax becomes due or is paid, whichever is later. Also, keep records documenting gross receipts, proof of purchases, expenses and assets. Examples include cash register tapes, bank deposit slips, receipt books, purchase and sales invoices, credit card charges and sales slips, Forms 1099-MISC, canceled checks, account statements, petty cash slips and real estate closing statements. Electronic records can include databases, saved files, e-mails, instant messages, faxes and voice messages.

08/10/2012

Lyndsay Modie -Senior Staff Accountant-

01/04/2012

This year all taxpayers will have until Tuesday, April 17 to file their 2011 tax returns and pay any tax due because April 15 falls on a Sunday, and Emancipation Day, a holiday observed in the District of Columbia, falls this year on Monday, April 16.