Abacus Tax & Books LLC

02/02/2024

The IRS opened to E-File on Monday January 29th! Do you have all your tax documents together and ready for your preparer? Don't forget your:
W2's
Home interest statements
Student loan interest statements
Child Care Statements or College Tuition statements
Giving Statements
Brokerage Statements
Healthcare.gov forms

Call us for a detailed list and schedule your consultation today! 803.548.1099

01/24/2024

It can be hard to find someone you can trust to do your taxes. The most important thing to look at are the preparer’s credentials. Credentialialed professionals include CPAs, attorneys, Enrolled Agent, and registered preparers participating in the IRS’s AFSP (Annual Filing Season Program). AFSP Participants must be registered with the IRS and participate in continuing education programs to ensure they have the knowledge necessary to handle your tax return.

To see if your preparer is credentialed, or to find a credentialed preparer, use the IRS look up tool at https://irs.treasury.gov/rpo/rpo.jsf

Here at Abacus Tax & Books LLC we participate in the AFSP program. Our dedication to continuing education ensures that we obtain the best results for our clients possible. To set up an appointment today please call us at 803.548.1099.

01/16/2024

As tax time approaches, it’s important to know some key facts that will affect your filing. In addition to an increase in standard deduction amounts (see below), the tax brackets themselves widened; essentially allowing more to be earned within each bracket before qualifying for the next. The tax rates themselves did not change.

Standard Deductions:
Single: $13,850 up from $12,950 in 2022
Married filing Jointly: $27,700 up from $25,900 in 2022
Head of Household: $20,800 up from $19,400 in 2022

For more information about how 2023 tax changes will affect you reach out to our office for an appointment today! 803.548.1099

Sources:
https://www.cnbc.com/2023/12/24/must-know-changes-for-your-2023-taxes.html

https://www.schwab.com/learn/story/taxes-things-to-know-now #:~:text=After%20an%20inflation%20adjustment%2C%20the,standard%20deduction%20rises%20to%20%2427%2C700.

It's important to know 2023 tax changes that could affect your liability this filing season. Here's what taxpayers need to know.