2019 Tax Provisions:

Posted by on Dec 2, 2019 in Uncategorized | Comments Off on 2019 Tax Provisions:

INDIVIDUAL TAXPAYERS: RECAP FOR 2019 As we close out another year and get ready for tax season, here’s what individuals and families need to know about tax provisions for tax year 2019. Personal ExemptionsPersonal exemptions are eliminated for tax years 2018 through 2025. Standard DeductionsThe standard deduction for married couples filing a joint return in 2019 is $24,400. For singles and married individuals filing separately, it is $12,200, and for heads of household, the deduction is $18,350. The additional standard deduction for blind people and senior citizens in 2019 is $1,300...

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Year End Tax Planning Strategies

Posted by on Nov 5, 2016 in Uncategorized | 1 comment

Tax planning strategies for individuals this year include postponing income and accelerating deductions, as well as careful consideration of timing related investments, charitable gifts, and retirement planning. General tax planning strategies that taxpayers might consider include the following: Sell any investments on which you have a gain or loss this year. For more on this, see Investment Gains and Losses, below. If you anticipate an increase in taxable income in 2016 and are expecting a bonus at year-end, try to get it before December 31. Keep in mind, however, that contractual bonuses...

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2014 Income Tax Changes

Posted by on Dec 30, 2014 in Uncategorized | Comments Off on 2014 Income Tax Changes

As tax laws change every year, America’s Tax & Accounting Service has identified the most significant changes for the tax year of 2014 that might affect our clients: 1)   The Patient Protection and Affordable Care Act could well be the biggest change to taxes in 2014. Employers with more than 50 full-time equivalent employees will be facing a tax penalty if they fail to provide affordable essential health coverage to their employees. Individuals who fail to purchase coverage might also be subject to a penalty. Adults could be facing a fine of $95, while the penalty for uninsured...

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New Lakeland Office

Posted by on Jan 4, 2014 in Uncategorized | Comments Off on New Lakeland Office

America’s Tax & Accounting Service is proud to announce our new office, located at 5410 South Florida Avenue, Suite 13, Lakeland, FL 33813. We will be open from January 15 – April 15, 9am – ? pm, and Saturdays from 10 am – 2 pm.  If you would like to schedule an appointment outside of normal business hours, please call us at:  863.644.9756 and we will be happy to make an appointment with you. We would like to welcome all of Pat’s Tax & Accounting clients and we will strive to ensure that you experience the same great service that you have received from...

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