Akins & Amos Certified Public Accountants

Akins & Amos CPA is accepting new bookkeeping clients. When we do your books, your business tax return gets completed early in tax season because we keep the books up to date each month. Please give us a call so we can help you!

Hello clients and friends. We have a request. We want to chat with someone who has met the following criteria for their 2018 income tax filing: Used a do it yourself income tax software package Filed as Married Filing Jointly or Single Used the $24,000 standard deduction for MFJ or $12,000 for Single Their itemized deductions came within $21,000 to $24,000 for MFJ or $10,000 to $ 12,000 for Single... So you are aware, if you take the standard deduction on federal, you are required to take the standard deduction for state. You only get $6,000 for Married Filing Joint as a standard deduction for state. If you itemized on federal, you get deduct the same itemized amount on state. We just completed a tax return where the itemized deductions came to $22,433. If we would have chosen the standard deduction for the client, the client would have had a federal refund of $5,811 but owed the state $341 for a net refund of $5,470. However, we are electing to take the itemized amount. By doing so, the client will get a federal refund of $5,625 but get a state refund of $649 for a total refund of $6,274. That’s a $804 savings for our client! We want to know if do it yourself income tax software packages prompts you to look for this significant savings. So please share with the people you know that you think would fall into this category.

If you have not filed your business return, it is due on Sept. 15th and your personal return is due on October 15th.

We are open on Saturday's and some evenings during tax season. Please always make an appointment no matter what day of the week you want to meet. Look forward to seeing you soon!

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For Business owner’s

IRS Provides Tax Relief to Victims of Hurricanes Irma and Harvey Good news for those affected by the Hurricanes in Texas, Florida and U.S. territories in the Caribbean, the Internal Revenue Service has announced that taxpayers in areas heavily affected by the storms and whose tax returns are under extension will have until Jan. 31, 2018 to file. (The returns were previously due on Sept. 16, for businesses, and Oct. 16, for individuals). This tax relief also postpones various ...tax filing and payment deadlines that occurred starting on Sept. 4 in Florida and Sept. 5 in Puerto Rico and the U.S. Virgin Islands. Additionally, it pushes back the Sept. 15, 2017, and Jan. 16, 2018, due dates for quarterly estimated tax payments. This relief applies to any area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual assistance. Parts of Texas, Florida, Puerto Rico and the Virgin Islands are currently eligible, but more may be added as recovery efforts begin. To determine if you're in an eligible area, you can view the current list of FEMA-designated localities for Hurricane Harvey here and the list of localities for Hurricane Irma here. Our goal is still to complete tax returns for our clients on-time if possible. If you have any questions about the status of your return, please don't hesitate to reach out to us. 770-744-3880

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