Accounting For You, LLC

07/28/2022

How well do you know your Accounting For You staff? Can you tell which brilliant mind painted which picture? Feel free to drop your best guesses in the comments. (Let's call them pictures 1-6 from the top row to the bottom).

09/29/2021

New Minimum Wage, effective January 1st, 2022.

In accordance with A.R.S. 23-363(B), Arizona's minimum wage will increase from $12.15 to $12.80 per hour.

The 65 cent increase in minimum wage is based on the increase in inflation between August 2020 and August 2021, as published in the U.S. Bureau of Labor Statistics' Consumer Price Index.

06/08/2021

IRS Just Announced / Things To Be Informed About

This is an Advance child tax credit which will change the normal child tax credits you may be used to for your 2021 tax return

You may Opt Out of the advance child tax credit payments and claim the amount on your 2021 tax returns

If dependent status changes from year to year, at this time, we advise you to Opt Out to prevent possible repercussions during processing your 2021 tax returns

For specific information see the links below:
https://www.irs.gov/newsroom/irs-sending-letters-to-more-than-36-million-families-who-may-qualify-for-monthly-child-tax-credits-payments-start-july-15

https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021

05/21/2021

This guy showed up a week late for Tax Season!!

04/12/2021

The Treasury Department and the Internal Revenue Service issued Notice 2021-25 providing guidance under the Taxpayer Certainty and Disaster Relief Act of 2020. The Act added a temporary exception to the 50% limit on the amount that businesses may deduct for food or beverages. The temporary exception allows a 100% deduction for food or beverages from restaurants.
If you have any questions, please contact your AFY Accountant or Tax Preparer by emailing them at [email protected].

04/06/2021

As we all know the IRS had previously decided to extended the 2020 tax deadline. AZ DOR has just decided to follow suit and extend the state tax deadline to match the IRS' date.

The new deadline for 2020's Tax Filing and Payments, including AZ Tax Credits, is now May 17, 2021.

02/18/2021

As of today, the IRS does NOT plan on extending the deadline to file 2020 taxes.

Bring in your 2020 tax documents today, or send an email to [email protected] to request to sign up for your FREE SECURE Tax Portal!

02/05/2021

To All AFY Tax Clients:

We are so excited to announce Your Tax Portal! Contact our office to receive an invite to your secure tax portal which assists you in receiving and sending documents pertaining to your tax years and for years to come!

Email us at: [email protected] or call us at: (928) 468-6107 to get started or for more information!!

01/29/2021

The Internal Revenue Service has set the start of the nation's tax season to February 12, 2021. That's the day the agency will begin accepting and processing the 2020 tax year returns.

But don't delay! Start collecting your documents and bring (or scan and email) them into AFY to hold your place in the lineup!! We have already started working on 2020 taxes.

01/14/2021

AFY wanted to make sure you have easy access
to check the status of both rounds of your EIP funds.

If you did not receive eligible EIP funds, we will be
able to address this issue when we file your 2020 tax return.

This IRS website also has additional information if you have
additional questions or simply wonder how the process is working.
https://www.irs.gov/coronavirus/get-my-payment

Looking forward to a fantastic 2021 year!

Use Get My Payment to get information about your payment status and payment type.

12/24/2020

Happy Holidays from your AFY Team!!🎄