Accounting Personalized Inc

07/31/2025

Thank you to all that have supported us and have honored us with our fifth win in a row of Our Town Favorites!

05/22/2025

As the new tax regulations head from the floor of the house to the senate. Accounting Personalized is here to assist you in the meaning behind the new codes being passed. One of which is the qualified production property deduction. With this new proposal, taxpayers can deduct 100% of “qualified production property” at the point that it is put into service. This would be limited to certain newly constructed or acquired nonresidential real property located in the United States. The bill expresses that these properties must be in connection with the manufacturing, agricultural and chemical production, or refining of a qualified product. Whereas under the former code, many of these properties would have to be depreciated over 39 years.

05/21/2025

New Regulations Passed the Senate for Tipped Employees!

Highlights:
-100% deduction on declared tips of up to $25,000
-Only applies to occupations that traditionally received tips (on or before December 31,2023)
-Deduction only applies to individuals who earn under $160k per year
-The treasury would have 90 days to produce a list of occupations that fit that description

The Senate on Tuesday passed a bill that would eliminate federal taxes on tips, advancing with the help of Democrats a top campaign promise of President Trump. Sen. Jacky Rosen (D-Nev.) brought the bill to the floor with the expectation that it would be blocked, but Sen. Ted Cruz (R-Texas) declined....

01/14/2025

01/08/2025

We are very excited about our guest next week on the Meldon Law & Friends Podcast! 🎙️

We will be joined by Michael Solomon, Owner and Lead Accountant for Accounting Personalized Inc.

Tune in Tuesday, January 14th at 5 p.m. for a great show!

10/23/2024

Interested in joining our firm? We have a new position available! Apply at the link below:

Accounting Personalized

07/18/2024

Thank you to all that voted for us. It is an honor to take the award for Our Town Favorites - Favorite Local Tax Preparer for the fourth year in a row!

06/05/2024

Meet JC. Jan Carlos (JC) joined the team in the fall of 2023. JC describes himself as being highly competitive, a compassionate father, and a loyal husband. Originally from Puerto Rico, JC prides himself on taking on client challenges and developing skills to effectively overcome obstacles posed from accounting issues.

03/01/2024

New Filing Requirement for Business Owners – BOI Filing

Access to the new FinCin reporting portal for the Beneficial Owners Information became available on January 1st, 2024. This is a new requirement for businesses to stay in compliance with the US government as an active business entity. If you are an existing business entity (prior to January 1st, 2024) you have until the end of the year to complete this filing. If you are a new entity, you must complete this filing within 90 days of formation.

Penalty for failing to complete this filing is as follows:

As specified in the Corporate Transparency Act, a person who willfully violates the BOI reporting requirements may be subject to civil penalties of up to $500 for each day that the violation continues. That person may also be subject to criminal penalties of up to two years imprisonment and a fine of up to $10,000. Potential violations include willfully failing to file a beneficial ownership information report, willfully filing false beneficial ownership information, or willfully failing to correct or update previously reported beneficial ownership information.

This is a free reporting to complete via:

Many companies are required to report information to FinCEN about the individuals who ultimately own or control them. FinCEN began accepting reports on January 1, 2024. Learn more about reporting deadlines.

02/23/2024

Dealing with the IRS may get better.

If you have ever dealt with the IRS, you may know that it historically has not been the best experience. There is a change that has been set forth by congress called the Taxpayer First Act. This act requires the IRS to develop a thorough strategy for customer service. The pillars that the IRS is set to propose changes to are:

1. Expanded Digital Services
2. Seamless Experience (Solution and Situation Results)
3. Proactive Outreach and Education
4. Community of Partners
5. Focused Strategies for Reaching Underserved Communities
6. Enterprise Data Management and Advanced Analytics

02/16/2024

Current IRS Scams

Per the IRS, the following are the top scams effecting the taxpayer:
• New scam mailing related to unclaimed refunds: This is a scam claiming you are due a refund, when you are not, including promising a refund without any prior knowledge of your situation.
• Employee Retention Credit scams: This is a scam from aggressive advertising on who qualifies to receive the credit.
• Filing season scams involving fake Form W-2 wages: This is a scam where you are encouraged to use wage information to file a false return to get a bigger refund.
• Pandemic-related email scams: These are phishing scams attempting to get information from you in exchange for a credit or refund.
• Charity fraud awareness; This is a scam of “criminals soliciting donations and falsely posing as legitimate charities”
• Beware of OIC mills – avoid costly promoters advertising settlement with the IRS for “pennies-on-the-dollar”
• Scam targets educational institutions, including students and staff: This is an IRS impersonation scam to get information from educational institutions, including students and staff who have ".edu" email address.
• Identity theft and unemployment benefits: This scam is criminals seeking to steal taxpayer identities to file fraudulent claims for unemployment compensation.
• IRS: Don’t be victim to a "ghost" tax return preparer: A ghost preparer is someone who doesn't sign tax returns they prepare.
• IRS impersonation telephone scams