02/03/2023
Dear Clients and Facebook,
Alternative Financial & Tax Services hopes everyone is safe, well and healthy!
It's that time of year again, to assemble information for the preparation of your 2022 income tax returns.
AF&TS specializes in preparing accurate, on-line, and efficient taxes! Our timely services include ALL tax preparations - nationwide for Federal, State, Extensions and Amendments. Tax Filing Status from: individual, head of household, married-joint & single, to any business /partnership/ corporate taxes.
At your request, feel free to contact our office by email or website to receive a normal (combined) Client Information Worksheet, Client Checklist, Itemized Deduction Checklist and Profit and Loss worksheet, if applicable. Please be sure to review the checklists, to make sure you don’t forget any information.
We HIGHLY recommend that you compile, email and/or mail your tax information as soon as possible - once you believe you have received all of your documents.
*NOTE: Tax Filing Deadline – Tuesday, April 18, 2023*
WHAT’S NEW:
Taxpayers must report all income unless excluded by law, if they receive Form 1099-K, Form 1099-NEC (Nonemployee Compensation) or other compensation return information.
Some tax credits have returned to 2019 filing standards. These changes will most likely impact taxpayers to receive significantly smaller refunds, compared to previous tax years.
American Rescue Plan Act of 2021 - lowered threshold reporting for third party networks that process business payments. Single transaction exceeding $600 “can” require third parties to issue a 1099-K or 1099-NEC.
Any payments received through a third party from friends, relatives, personal gifts, or reimbursements for personal expenses are not taxable.
Child Tax Credit (CTC), Earned Income Tax Credit (EITC) and Child and Dependent Care:
Taxpayers who received $3,600 per dependent in 2021 for CTC, if eligible - will receive $2,000 for 2022 tax year
For EITC, eligible taxpayers with no children who received roughly $1,500 in 2021 - will receive $500 in 2022
The Child and Dependent Care Credit returns to a maximum of $2,100 in 2022 - instead of $8,000 in 2021
A "Get Ready" page IRS.gov, provides steps taxpayers can utilize for easier tax filings in 2023
We are always hopeful that you might tell others about the great service we provide to our clients. We are confident that your friends, family and acquaintances will find our tax preparation work quick, efficient, and very reasonably priced.
Note: please send all compiled tax documents to these emails: [email protected] or [email protected]
Also, as a reminder, we do require payment (cash or payment through Squareup.com; no checks or Cash Apps are accepted) of our tax preparation fees; when you receive emailed tax analysis summary of your tax return, from our office.
Please call if you should have questions or need to make other arrangements. We will always strive to give you the best service possible and always willing to go the extra mile. Alternative Financial & Tax Services sincerely thanks you for your business and look forward to hearing from you soon!
Best regards,
Audra Webber | AF&TS -Owner
[email protected]
[email protected]
[email protected]
www.afandtservices.com
*Referrals are always welcome and appreciated!
AF&TS - Delivering Sustainable Services! - About Us
ALTERNATIVE FINANCIAL & TAX SERVICES. We provide financial, accounting and tax services that improve the efficiency and effectiveness of the business for profit and ...
We provide financial, accounting and tax services that improve the efficiency and effectiveness of the business for profit and non-profit organizations.
