Midwest Bookkeeping & Tax Service

12/07/2022

Tax Season is closer than you think. These tips will keep you safe and stress-free.

03/03/2022

Alert! Many of you will be getting a duplicate copy of the letter showing EIP3 payments. Please keep this for your tax records.

02/04/2022

Attn Crypto tax clients- crypto gain/losses are a taxable event and all transactions need to be reported to the IRS.

How is a gain/loss created? by selling or "exchanging/trading" one coin for another (ex converting BTC to ETH)

Please let us know if you need help in finding the info from your crypto account dashboard.

02/02/2022

Snow day for Midwest Bookkeeping!

Today might be the perfect day to gather most of your tax documents and upload them to the client portal.

We will have limited access to phones. But text and email are still available.

01/20/2022

For all of our Schedule C tax clients- If you were unable to perform services due to Covid-related care, you may be eligible for a tax credit. Please note this on your tax organizer/datasheet.

Self-employed. Have COVID early last year? Then you might have a credit coming if you know enough to file the form on your tax return.

12/28/2021

Look out for these letters from the IRS- they are NOT JUNK- we will need them to process your tax return this year.

The correspondence will include important information for completing their 2021 tax returns.

12/22/2021

The IRS says it plans to issue another batch of special unemployment benefit exclusion tax refunds before the end of the year—but some taxpayers will have to wait until 2022.

12/21/2021

To all clients and friends- check your mail beginning in January- the IRS will be sending letters showing stimulus amounts paid AND advance child tax payments (letter 6419).

These letters will be required to complete your tax return this year.
If you have not already claimed your new id.me account- do so now!

Get instructions on your online account. Review the amount you owe, balance for each tax year and payment history.

08/31/2021

Advance Child Tax Credit - Direct Deposit Update
https://missouri-accountants.com/advance-child-tax-credit-direct-deposit-update/

08/30/2021

Attention Teachers!

Educators can now deduct out-of-pocket expenses for COVID-19 protective items
https://missouri-accountants.com/educators-can-now-deduct-out-of-pocket-expenses-for-covid-19-protective-items/

08/05/2021

Find out what an IRS-issued Identity Protection PIN is and how to get one if you are eligible.