AgriTax Solutions, Inc. with Shane L. Harper CPA

04/15/2024

Tax season is winding down and so is puppy season at Harper house.
Our sweet puppies are 8 weeks old and ready to go to their new families. I have 5 males (one is already spoken for). Pure bred Weimaraner.
Reasons why you want a Weim 🩶 for your family.
1. Low shed easy maintenance coat, like velvet.
2. Intense family bond.
3. Athletic and intelligent, responds well to positive reinforcement.
4. These little fellows have been socialized with both children (4 kids aged 5, 10, 14, and 16) and adults as well as two weims, a borgi, and a huge mutt mix.
5. We've kept them (extended time)with their mom, Opal, who is an excellent dog (calm, sober, athletic, sweet, and already showing amazing promise as a pheasant hunter) so they are secure and have had the opportunity to pick up great traits and learn how to be a good creature.

Their ideal home would be with someone who wants an indoor/outdoor dog and will include them in daily life. Weimaraners are highly intelligent and need a job. They are NOT leave alone in the backyard or crate pets (isolation will ruin them).

Please message for more information and questions. We've owned weims for over 20 years.

03/08/2024

Fun fact about Shane, he loves his critters. We have a small flock of chickens he lovingly refers to as the "feather pigs". He built their Chicken Palace with the kids last year, complete with Chunnel and a moveable protected outdoor area.
He's also a dog guy, we just had our first litter of six Weimaraner puppies. So after a long day, he takes a brain break by chatting with the chickens and checking on the puppies.

12/28/2023

While this guy works on getting the end of year estimates done ✅, we will keep him supplied with number crunching fuel (cookies and milk).
We love stopping in for a quick visit ❤️.

02/19/2021

One of the most wonderful things about having Daddy local is getting to stop in and visit, makes the long hours of tax season feel better.
This guy will help you manage your resources so that you can have more time with your most important people too! Perks of a family owned business, he gets it!

02/02/2021

I wanted everyone to know of an additional identity protection option that became available in 2021. The IRS has made their identity protection PIN program available to everyone, all you have to do is request a PIN.

The PIN is unique to you and your return cannot be filed without it.
This prevents someone else from filing a tax return for you.

Trust me, it is a very bad day when someone goes to file their tax return and finds out someone else has already done so. This is a long tedious process to correct in good years. With the IRS backed up now it could take a year or more to get everything straightened out.

Here is a link to an IRS publication that tells you more about the program and where to apply for the PIN.

02/02/2021

Hey everyone! Have you or someone you know been a victim of the rampant unemployment fraud in Kansas.
I can personally attest to being a victim of this crime. So I wanted to let you know what you need to do if you receive a 1099-G saying you received unemployment benefits.

Below is copied off of the Kansas Department of Labor site with directions for requesting them to fix this mistake.

If you received a 1099-G form for a claim that you did not receive payment for due to identity theft, you can fill out a request on the KDOL Self-Service Portal under “1099 Protest/Dispute”, making sure to check the box for “I want to dispute my 1099” and upload an Unsworn Declaration to declare you did not receive the benefits that were stated on your 1099-G form issued from the Kansas Department of Labor.

You can also send a written dispute with your full name and last 4 digits of your social security number to the Kansas Department of Labor at the following address:

Fraudulent 1099 Inquiry
Kansas Department of Labor
401 SW Topeka Blvd.
Topeka, KS 66603-3182

Make sure to include the reason of identity theft in your written dispute and a copy of a completed Unsworn Declaration form.

Additionally, if you have not so already, go to www.dol.ks.gov/fraud to submit a report to our Fraud Investigation team. For more information on reporting fraud, see the Unemployment Fraud FAQ page.

There is also a phone number, 785-291-6059, you can contact but I suspect they will be backed up because of the volume.

Additionally the IRS has issued guidance as well requesting you contact your state to request a corrected 1099-G showing zero income. If you have done this but do not receive the corrected 1099-G by the time you file your return you can put it on your return and take it off with an explanation of what happened. You may get a letter from the IRS about this if the state has not corrected it on their end by the time the IRS processes the return. So keep any correspondence in case you need to present it to the IRS to back up your claims.

Like states all across the country, Kansas is seeing an increase in reports of unemployment claim fraud due to identify theft. Fraudulent claims are being filed using the names and personal information of people who have not lost their jobs. People are often unaware a claim has been made on their be...

12/31/2020

Quick update on the PPP2 legislation. There are a lot of questions yet on the legislation and the SBA is supposed to release guidance in the next week or two. Here are some the points from the new law.

If you did not receive a PPP loan earlier you can apply for one now under the original eligibility rules.

Schedule F filers can use gross income instead of net income.

If you did receive PPP funds earlier you can apply for a second draw but you must have a 25% reduction in gross receipts in a 2020 quarter when compared to the same quarter in 2019.

The loan forgiveness application has been simplified for borrowers who received less than 150,000.

There are additional expenses that can be paid with PPP funds.

EIDL grants no longer reduce the amount of forgiveness of the PPP loan.

And the one we have been waiting for.........expenses paid with PPP funds are now deductible and you do not have to decrease your basis.

Now how does this affect you if you already applied for forgiveness.

If you have already applied for and received forgiveness most of this does not apply. For example, if you did not receive full forgiveness because you did not have enough of the PPP eligible expenses you cannot change your application to include the new eligible expenses.

But the two important ones that do apply:

You can deduct the PPP expenses or go amend your return if you filed and did not deduct them.

You can receive forgiveness for the portion of PPP loan forgiveness reduced by the EIDL grant. The SBA will have to tell us how this works.

This is a very short summary and I have left out a lot of items. Currently we are still waiting on the final rules and forms before any applications can be submitted. Expect applications to be available the middle of January.

I hope everyone enjoys their new year!

12/12/2020

11/10/2020

The ribbon cutting ceremony today was the fulfillment of a lot of hard work, dedication, and big dreams!

The Cimarron Chamber was pleased to hold a Ribbon Cutting this morning and would like to welcome AgriTax Solutions, Inc. to our community!

As a family owned accounting business with offices in both Cimarron and Scott City, Diana Brandt, EA ATP ABA ARA STC and her son Shane Harper, CPA, bring almost 40 years of combined experience to SW KS! You can visit them at their new office in Cimarron located at 119 N. Main Street.

We are excited to have AgriTax Solutions, Inc. as a new member of the Cimarron Chamber of Commerce and wish them much success!

10/21/2020

Today I wanted to expand on yesterdays post.

This year with the COVID pandemic and the possibility of a democratic party sweep in the elections planning is even more important than usual. There are also additional planning opportunities for both businesses and individuals that we typically do not have.

Individuals need to make sure to take advantage of the $300 charitable deduction. There are options to borrow from your IRA and your employer can reimburse all kinds of expenses under the disaster regulations. This is not taxable to you and may offset some or all of the nondeductible expenses if they used COVID relief.

If the democrats win the election you can expect taxes to increase and the estate tax exemption to be cut in half, the democrats have told us this is their plan, this is not speculation. Planning now must be done by the end of the year to preserve the full estate tax exemption. If legislation is passed next year it can be made retroactive to January 1st of 2021.

Estate planning will likely involve both your tax advisor and your attorney and will take time to make sure it is done correctly.

10/20/2020

Year end is fast approaching and I would like to encourage everyone to consider discussing tax planning with their tax advisor.

This is especially important for anyone who used some of the different COVID relief options available. Do not request forgiveness on these loans without discussing with your tax advisor. You may need to discuss strategies to offset expenses that are no longer deductible after loan forgiveness.

For individuals this is the time of year to consider retirement planning and education planning strategies to possibly offset federal and/or state income tax liabilities.

This year may be a good time to consider rolling to a Roth IRA. It is quite possible income tax rates are going up after this year and even possible the Roth may not be an option in future years.

Happy Tuesday!

10/14/2020

I had a question recently on the due date for the PPP loan forgiveness application. The person believed the application was due October 31st, this month, because of a date on some of the SBA application forms. This is not correct and the SBA posted a response because of the confusion.

A few things:
1) The date on the SBA form is not related to the loan date and has to do with the Paperwork Reduction Act.

2) You can apply for forgiveness at any point during the loan period.

3) If you want to have the entire loan forgiven you must apply before the loan repayment begins.

4) Loan payments begin 10 months after the last day of your loan forgiveness covered period.

a. So if your covered period ends October 30, 2020 you would have until August 30, 2021 to apply for forgiveness prior to making any loan payments

5) I recommend waiting to see what happens with legislation and not get in a hurry to file for forgiveness.

I know item 5 may get into what do you do for your 2020 taxes. The simple answer is I do not know. There are several ways to approach it and hopefully we have additional guidance before the March filing deadline. Otherwise we will have to discuss the options and the possibility of amending returns if things turn out differently than anticipated.

To summarize this post:

Good news the due date for the PPP loan forgiveness is still a long way off.

Bad news the tax filing deadlines are approaching fast and there is little guidance and lots of confusion.

Bad news good luck on planning! Might have to get out the crystal ball.

Good news it is Wednesday and the week is half over.

If you have questions, please feel free to contact me and we can discuss the best options for your situation.