Advanced Accounting & Tax Service

09/17/2022

Kelsi Walker no longer works at or is associated with Advanced Accounting & Tax Service.

01/11/2022

01/11/2022

Beware of fake charities! Protects sensitive personal and financial information that scammers can use to try filing tax returns and steal refunds. Check some tips from the at https://go.usa.gov/xemGv

01/11/2022

The January 24 start date for individual tax return filers allows the IRS time to perform programming and testing that is critical to ensuring IRS systems run smoothly. Updated programming helps ensure that eligible people can claim the proper amount of the Child Tax Credit after comparing their 2021 advance credits and claim any remaining stimulus money as a Recovery Rebate Credit when they file their 2021 tax Read the full release:https://www.naea.org/wp-content/uploads/2022/01/IR-22-08.pdf

01/11/2022

IRS Letters 6419 and 6475
The Internal Revenue Service announced on 12/22/2021 that it will issue information letters to Advance Child Tax Credit recipients starting in December (Letter 6419) and to recipients of the third round of the Economic Impact Payments at the end of January (Letter 6475). Using this information when preparing a tax return can reduce errors and delays in processing.

01/07/2021

Great news for 2021 and 2022 only. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 allows businesses to deduct 100%, instead of just 50%, of business meal expenses meeting certain requirements.

If you recall, the Tax Cuts and Jobs Act (TCJA), effective beginning in 2018, eliminated the business-related deduction for entertainment, amusement or recreation expenses. However, it did retain a deduction for business meals when the expense is ordinary and necessary for carrying on the trade or b...

01/07/2021

Are you planning to buy your first home, upgrade from your existing one, or refinance your mortgage? Let's take a look at some tax advantages and drawbacks of homeownership.

01/06/2021

Get inspired. Some Wednesday Wisdom from Rhinelander based Advanced Accounting & Tax Service

01/05/2021

The Internal Revenue Service recently issued the 2021 optional standard cents-per-mile rates for business, medical and moving purposes. However, you may find it in your best interest to keep track of actual expenses for 2021.

The Internal Revenue Service (IRS), each year, computes standard mileage rates for the use of a vehicle for business, medical and moving purposes based on a number of factors, to determine the standard mileage rates for the following year.

01/04/2021

Looking for a sign? Here's your Monday Motivation from Rhinelander based Advanced Accounting & Tax Service

12/30/2020

A little inspiration from Advanced Accounting & Tax Service. Wednesday Wisdom