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Monday 9am - 5pm Tuesday 9am - 5pm Wednesday 9am - 5pm Thursday 9am - 5:15pm Friday 9am - 5pm

Willing Accounting

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United States
Hannibal, MO
Willing Accounting

Friendly accurate accounting services done by a CPA. We specialize in bookkeeping, payroll and taxes for individuals and businesses.

08/29/2025

Not everyone is legally required to file a tax return, so it may be tempting to skip it. But if you had federal income tax withheld, made estimated payments or qualify for a refundable tax credit, you could be missing out. The Child Tax Credit is for those with qualifying children under age 17. The Credit for Other Dependents is for those who support certain others, including their parents or children 18 and older. Both of these credits begin to phase out at income limits that are fairly generous. If you paid higher education costs for yourself or an eligible student, you may qualify for an education credit. Contact us at (573) 221-4234 or learn more from the IRS: https://bit.ly/3RNQJeB

08/27/2025

Knocked unsteady by recent stock market wobbles? If you’re in your 20s or 30s, your stock-heavy 401(k) plan portfolio likely has time to recover and grow, thanks to the power of compounding. If, on the other hand, you’re less than 10 years from retirement, consider allocating more to bonds and other less-volatile securities. We can help you build a resilient and effective portfolio that reflects your risk tolerance, investment goals and retirement plans. Contact us at (573) 221-4234.

08/26/2025

Static budgets can quickly fall out of sync with reality in today’s volatile markets. Rolling forecasts offer a smarter, more flexible approach, updating your projections throughout the year to reflect real-time changes in your business, industry and market. They complement your annual budget and help you make better decisions, faster. Want to improve your forecasting and budgeting? Let’s talk. Call us at (573) 221-4234.

08/25/2025

Proper payroll recordkeeping is critical for every business to ensure tax compliance and guard against litigation. Most companies must keep information regarding federal income, Social Security and Medicare taxes for at least four years after the due date of an employee’s personal income tax return for the year in which the payment was made. This is known as the “records-in-general” rule, and various data and documents fall under it. Contact us at (573) 221-4234 to schedule a review of your payroll recordkeeping processes today!

08/22/2025

If you’ve recently sold your home and realized a capital gain, you may be able to exclude some or all of the gain from the sale. To claim the exclusion, you must pass IRS ownership and use tests. During a five-year period ending on the date of sale, you must have owned the home and lived in it for at least two years. If qualified, you may be able to exclude a capital gain of up to $250,000 from your income ($500,000 for married joint filers). Be aware that the exclusion is available only for your main home (not a second home). If you realized a loss on the sale, it’s not deductible. For more information from the IRS: https://bit.ly/3GCMQqz or contact us at (573) 221-4234 with questions.

08/20/2025

If you're self-employed and use part of your home exclusively and regularly for business, you may qualify for home office tax deductions. You can deduct a portion of your rent, mortgage, utilities and more. There’s even a simplified option if you don’t want to keep track of all the costs. Don’t wait until tax time: Start tracking your expenses now. Questions? Contact us at (573) 221-4234 to see if you qualify. We’re here to help!

08/19/2025

Having the right estate planning documents in place gives you peace of mind and provides clarity for your loved ones during difficult times. That should start with a will, which designates who receives your assets and who becomes guardian of your minor children. Without it, state law decides. Also, consider a financial power of attorney and a medical power of attorney. They authorize someone to handle financial matters on your behalf if you’re unable to do so and make medical decisions for you if you’re incapacitated. Contact us at (573) 221-4234 with questions.

08/18/2025

Have you changed your business’s name, address or “responsible party” recently? Then it’s time to file IRS Form 8822-B. This form ensures the IRS has your business’s up-to-date information and helps you avoid missed notices or tax issues. You must file it within 60 days of any changes to stay compliant. Failing to do so could result in penalties or delays in processing important documents. The responsible party is defined as the person who owns, controls or exercises effective control over a business and directly or indirectly manages the entity’s funds and assets. Questions? Contact us at (573) 221-4234.

08/15/2025

Determining the correct tax filing status isn’t always straightforward. That’s especially true if the parents of a young child live together and aren’t married. Can both parents claim the more favorable head of household (HOH) status? According to the IRS, the answer is no. Only one parent can claim HOH status for a qualifying child. To be eligible, a parent must furnish more than half the cost of maintaining a home for themselves and a child. If both parents contribute equally, the IRS applies a tiebreaker rule to determine who can file with HOH status. Learn more by visiting the IRS at bit.ly/3T5JUp5, or contact us at (573) 221-4234 with questions.

08/13/2025

Did you know the IRS can hold you PERSONALLY liable for the unpaid payroll taxes of your business? The Trust Fund Recovery Penalty (TFRP) targets business owners and responsible parties who willfully fail to remit payroll taxes withheld from employees. Even if the business is struggling, the IRS doesn’t take missed payments lightly. The financial consequences can be severe. If you've received a TFRP notice or are concerned about payroll tax compliance, don’t wait. We help you understand your rights and build a strong defense. Act now before penalties escalate. Contact us at (573) 221-4234.

08/12/2025

Tax law changes make it even more important to have a knowledgeable tax professional on your side. We can help you stay on top of changes, make informed decisions year-round, and avoid costly surprises. And when the 2025 tax filing deadline approaches next April, we can save you time, headaches and taxes by preparing your return. If you want clarity and confidence around your taxes, we’re here to help. Call us at (573) 221-4234.

08/11/2025

Each year, some taxpayers file their tax returns and eagerly await a refund. But then they find out it’s been reduced or withheld. If a taxpayer has unpaid federal or state tax debt, including child support, the IRS can offset the debt by applying a refund toward it. For some taxpayers, a refund is essential for covering necessary expenses. Losing it can create a hardship. The National Taxpayer Advocate advises eligible taxpayers to document any economic hardship and seek an “offset bypass refund.” Note: this must be done before the IRS offsets the refund, so don’t wait. Contact us with questions: (573) 221-4234

Address

2929 Palmyra Road
Hannibal, MO
63401

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5:15pm
Friday	9am - 5pm

Telephone

+15732214234

Website

http://willingaccounting.com/

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