After much deliberation, Congress passed the Protecting Americans from Tax Hikes (PATH) Act on December 18, 2015, which includes many permanent extensions taxpayers are very happy about. Sandy Furuya, Senior Accounting Manager at [Wamhoff Accounting Services], reviews the highlights. Child tax credit The child tax credit of $1000 was made permanent. This was previously set […]
It’s never too early to start thinking about ways to reduce your 2016 tax liability. Planning early in the year is a must! Contribute to your retirement plan until it hurts! Depending upon what type of employer sponsored plan you have you can you have the opportunity to contribute a large amount to the plan: […]
Announced late Tuesday night (December 15), congressional leaders unveiled a widespread deal on tax extenders, making some tax law provisions permanent and temporarily extending others. After a congressional vote, the new law has been enacted. Titled “The Protecting Americans from Tax Hikes Act of 2015” (aka PATH), the Act renews and makes permanent dozen of […]
For six straight years, [Wamhoff Accounting Services] has been named one of the Best Accounting Firms in the St. Louis Area by St. Louis Small Business Monthly (SBM). Each month, SBM polls CEOs, entrepreneurs and business leaders to identify the best companies across multiple industries. With over 200 companies nominated in the category, Wamhoff was, […]
We’re about halfway through the Missouri Tax Amnesty Program, an initiative to help taxpayers who have fallen behind on their State taxes to settle their accounts free of interest and penalty. Sandy Furuya, Senior Accounting Manager with [Wamhoff Accounting Services], explains the program and what you need to do if you think you may owe […]
Each year the IRS mails millions of notices and letters to taxpayers. If you receive a notice from the IRS this is what you should do. Don’t ignore it! You can respond to most IRS notices quickly and easily. It is important that you reply right away! More often than not the IRS expects correspondence […]