AGM Financial Services, LLC

This will be the first year to address Affordable Care Act issues on your income tax returns. If you purchased Health Insurance through the Exchange, please watch for Form 1095A in the mail. It will be needed to prepare your return. If you have no health care insurance because you meet one of the exceptions, you will need to apply for that exception and will need proof that you meet the exception. For more information, call our office: 770-303-0600.

Our clients or anyone interested in becoming a client can now contact Jan for an appointment or to have an organizer sent by US mail. We will be sending current clients an email soon telling them how to pick-up and print their organizer via a secure portal or to contact Jan for a mailed copy. Our telephone number is: 770-303-0600 extension 1 to reach Jan.

If the company you work for offers a Health Savings Account as a method of obtaining health insurance, look into switching. As a general rule if you are very healthy or have a lot of medical expenses, an HSA may be for you

If you are planning to convert Traditional IRA's to Roth IRA's consider establishing several smaller Roth's instead of one large Roth. If some investments increase in value, keep the Roth. If one or more lose value, take advantage of the recharacterization opportunity to unravel the losing Roth(s).

Take pictures of items you donate to charity to help verify their value. The IRS is emphasizing substantiation information items for charitable contributions.

If you are planning to make a sizeable charitable contribution, consider doing it with stock or mutual funds that have gained value in your hands. If it is publicly traded, you can take a deduction for the full value of the stock or mutual fund. This also might help when you have stock or mutual funds and no idea of their cost. Doesn't matter if you donate it. Covers your donation and avoids the headache of trying to come up with a cost.

Here's a tax thought--If your child has earned income, contribute the maximum allowable amount to their Roth IRA. They can take a distribution to pay college expenses up to the amount of the contribution without tax or penalty and earnings can remain in the account for the child's retirement.

It's about time to start preparing 2012 Income Tax returns! Our current or new clients can now contact Jan to schedule appointments or for any other needs at 770-303-0600.

DO YOU WORK FOR AN AIRLINE THAT'S BEEN THROUGH BANKRUPTCY RECENTLY? Most airline employees probably do. The FAA Reauthorization Act of 2012 presents you with a new tax friendly option for your bankruptcy settlement. If you haven't heard about this, give our office a call. John, Bob, or Ron can fill you in.

Our office is open Monday through Friday 9-5 EST. Our secretary can be reached at extension 1 for information or to schedule an appointment. Any of the three of us would be pleased to talk to you as well. We have been providing income tax preparation services for 28 years.

Flight Crew Members--If Flight Line Data Services provides per diem reports for your airline, we can purchase them for you at a discount. We find that our clients often save more than $1,000 using amounts from the reports. If you're not taking advantage of these potential tax savings, you should!! Give our office a call for more information and to schedule an appointment for the preparation of your income tax return(s).

Flight Line is still telling us that per diem reports will start arriving in "mid-February."

Welcome to our facebook page. We invite all of our friends to visit our internet site, www.agmtax.com, for the latest information on federal and state income taxes and related financial information. We can also be reached at (770)303-0600 or toll free (877)720-3676. You don't have to live in Atlanta, GA to work with us - we work with clients world wide in Abu Daubi, Viet Nam, Japan, Guam, Korea, France, England and all over the fifty United States (including Hawaii and Alaska)