Accu-Rate Tax Services

Accu-Rate Tax Services Accu-Rate offers professional financial services such as tax preparation, payroll, and bookkeeping. We value honesty, integrity, and transparency.

The financial health of our clients is our top priority

We’re a phone call away!
01/12/2022

We’re a phone call away!

Wishing you joy at Christmas and prosperity in the coming year. Thank you for being such an important part of what we do
12/20/2021

Wishing you joy at Christmas and prosperity in the coming year. Thank you for being such an important part of what we do

Get your ITIN for $175 🤩✅Check your Individual Taxpayer Identification Number (ITIN)✅An ITIN only needs to be renewed if...
12/07/2021

Get your ITIN for $175 🤩

✅Check your Individual Taxpayer Identification Number (ITIN)

✅An ITIN only needs to be renewed if it has expired and is needed on a U.S. federal tax return.

✅If an ITIN was not included on a U.S. federal tax return at least once for tax years 2018, 2019 and 2020, the ITIN will expire on Dec. 31, 2021.

✅ITINs with middle digits 70 through 88 have expired.

✅ITINs with middle digits 90 through 99, if assigned before 2013, have expired.

✅Individuals who previously submitted a renewal application that was approved, do not need to renew again.

🥳Temporary Suspension of Limits on Charitable Contributions🥳Individuals may deduct qualified contributions of up to 💯 pe...
11/12/2021

🥳Temporary Suspension of Limits on Charitable Contributions🥳

Individuals may deduct qualified contributions of up to 💯 percent of their adjusted gross income (usually 60 percent)

To qualify, the contribution must be:
🥳a cash contribution;
🥳made to a qualifying organization;
🥳made during the calendar year 2020

Contributions of non-cash property do not qualify for this relief. 😔

Taxpayers may still claim non-cash contributions as a deduction, subject to the normal limits.

Accounting furnishes all information about past events, current activities and future possibilities of a business. This ...
10/06/2021

Accounting furnishes all information about past events, current activities and future possibilities of a business. This information is communicated to external users 1️⃣➗2️⃣✖️3️⃣➕4️⃣➖5️⃣

Accounting is also the language of headache, stress, sleepless nights, and the like 😖😫😩

My fellow CPA exam candidates are very fluent in this language 📚📚

Let’s talk!

Tax planning is the analysis and arrangement of a person's financial situation in order to maximize tax breaks and minim...
10/01/2021

Tax planning is the analysis and arrangement of a person's financial situation in order to maximize tax breaks and minimize tax liabilities.

Sounds crooked, right?

Nope, it’s legal! 🧑🏾‍⚖️✅

The U.S. tax system is progressive. This means that taxpayers with higher taxable income (income after deductions) are subject to higher tax rates (tax brackets)

Five ways to plan effectively:
🧑🏾‍⚖️ Deducting - Create opportunities for deductions and credits. Maximize and time your deductions and credits

🧑🏾‍⚖️ Deferring - By deferring (postponing) income to a later year, you may be able to minimize your current income tax liability

🧑🏾‍⚖️ Dividing - Shift some income to family members who are in lower tax brackets

🧑🏾‍⚖️Disguising - Convert one type of income to another that is subject to a lower tax rate

🧑🏾‍⚖️ Dodging - Structure your affairs so that some of the taxable amounts currently showing up on your tax return might not have to be reported on your tax return going forward

Don’t forget the rules!

This is where it gets interesting with the IRS because this is not a general practice 🤔 Amidst the intrusive calls from ...
09/28/2021

This is where it gets interesting with the IRS because this is not a general practice 🤔

Amidst the intrusive calls from imposters and scammers posing as IRS reps, taxpayers [with outstanding tax debt] now have to pay special attention to calls from these 3 agencies😔😔

What to expect as a taxpayer:

1️⃣First, the IRS will send a letter to the taxpayer informing them that their account was assigned to a private collection agency (PCA)giving the name and contact information for the PCA.

2️⃣Following IRS notification, the PCA will send its own letter to the taxpayer confirming the account transfer.

3️⃣The private collectors will identify themselves as contractors collecting taxes on behalf of the IRS

✅ BE INFORMED
✅ STAY ALERT
✅ DO NOT IGNORE YOUR TAX DEBT (It will save you stress and money)

Need I say more?
09/23/2021

Need I say more?

⚠️Beware, Beware, Beware!⚠️To check the legitimacy of charities, The IRS Nonprofit Charities Database has a tool called ...
09/22/2021

⚠️Beware, Beware, Beware!⚠️

To check the legitimacy of charities, The IRS Nonprofit Charities Database has a tool called "The Exempt Organizations Select Check Tool". CHECK. IT. OUT.

The IRS does not call taxpayers. Moreover, they do not send verbal threats. Instead, they mail their threats 😄

If you are a victim of unemployment identity theft, see the U.S. Department of Labor’s DOL.gov/fraud page.

Please follow Department of Labor guidance on reporting fraud and protecting yourself from additional scams.

That’s it for my Dirty Dozen series! 👏🏾👏🏾

Recap:
1. Phishing
2. Phone Scams
3. Identity Theft
4. Return Preparer Fraud
5. Inflated Claim Refunds
6. Falsifying Income to Claim Credits
7. Impersonator Phone Calls / Vishing
8. Social Media Scams
9. Ransomeware
10. Fake Charities
11. Immigrant/Senior Fraud
12. Unemployment Insurance Fraud

✅ BE INFORMED
✅ STAY ALERT
✅ DRIVE SAFELY??? 😄😄

Accounts receivable (A/R) is the largest or second largest account on most companies' balance sheets. Reasons to monitor...
09/21/2021

Accounts receivable (A/R) is the largest or second largest account on most companies' balance sheets.

Reasons to monitor A/R:

🧐Improves cash flow
—-> A/R converts accounting money into real cash 💰. Failure to monitor will lead to less available cash for the business.

🧐 Improves Cash Management
—-> Lack of cash will affect a company’s ability to manage operations. Convert sales to cash to increase your cash ratio.

🧐Deters Bad Debt
—-> The longer receivables are outstanding, the less likely they will be able to be collected. Make payments easy 😌

🐢Slow collections can paralyze a company and slow growth tremendously

Statistics show:
😳 26% of invoices that get to 3 months old are uncollectible
😳 70% that are 6 months old will never get paid

BE BOLD IN YOUR COLLECTION PROCESS💪🏾

Did you know that the definition of success is personal❓❓💪🏾Your Obstacles💪🏾Your Success💪🏾Your Story ✅Celebrate small vic...
09/16/2021

Did you know that the definition of success is personal❓❓

💪🏾Your Obstacles
💪🏾Your Success
💪🏾Your Story

✅Celebrate small victories 💃🏾🕺🏽
✅Do not give up. If at first you don’t succeed…. Try again!

Reflect on the obstacles you have overcome, and celebrate your success! 🍾🎈🥳

Cheers!🥂🍻

Address

117-06 200 Street
St. Albans, NY
11412

Opening Hours

Monday 9am - 8pm
Tuesday 9am - 7pm
Wednesday 9am - 7pm
Thursday 9am - 7pm
Friday 9am - 7pm
Saturday 9am - 6pm

Telephone

+13474851967

Website

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