Ways to Reduce Your 2016 Taxes

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: […]

Congressional Leaders Announce A Widespread Deal on Tax Extenders

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 […]

St. Louis Small Business Monthly names Wamhoff as one of the Top Three Accounting Firms for 2015

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, […]

Missouri Tax Amnesty Program Now in Progress

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 […]

IRS Tax Notices

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 […]

Reporting Gambling Income and Losses on your tax return

If you play the ponies, play cards or like to play the slots, your gambling winnings are taxable.  You must report them on your tax return.  Here are some tips that can help you at tax time next year. Income from gambling includes winnings from the lottery, horse racing and casino’s. It also includes cash […]