AMI Business Services

More pictures from our dinner night Peaks Restaurant, San Jacinto Mountain, CA

Our office decompression dinner up above the Palm Springs Aerial Tram at Peaks Restaurant.

Today's the big day, everyone. The IRS begins accepting your 2018 returns today. Here's what you need to know for this year's filing...

While it is good news that tax refunds will go out despite the government shutdown, the bad news is that taxpayer support from the IRS will be next to nothing. For self-filers facing an entirely new tax code, this is not the year to go it alone. This year it will be vital to consult a tax professional to ensure your taxes are filed properly with all of the new credits and deductions you are eligible to receive.

The time has come to file your 2018 taxes (well, Monday is the official day). If you aren't sure if you need to file this year -- find out. You will pay the price for unfiled returns eventually. This is what you'll need to gather for your tax appointment. Certain deductions went away this year, and some that you might be used to as well. This list has changed a little from past years, and we've notated additional changes coming down the pike.

Put stamps on your shopping list this week. Stamp prices go up to 55 cents (currently 50 cents) on January 27th!

Tax season opens in a matter of days. We know many out there who want to close their eyes tightly over the next few months and hope it all miraculously pans out in their favor. While that usually does not happen by miracle, it can happen by advocacy. We are your financial advocates.

Amidst the frigidity of today's cultural and political climate, acting on this decades-old advice may be the key to welcoming in the first warm breeze of change. "We must develop and maintain the capacity to forgive. He who is devoid of the power to forgive is devoid of the power to love. There is some good in the worst of us and some evil in the best of us. When we discover this, we are less prone to hate our enemies." - Martin Luther King, Jr.

Because of the new Tax Cuts and Jobs Act, the IRS announced this week that they are making broader allowances this year for those who under-withheld their 2018 taxes. Normally the underpayment penalty is waived for those who paid at least 90% of their tax obligation during the year, but this year that threshold has been lowered to 85%. For those who make estimated tax payments (like the self-employed) and those facing an unexpectedly large tax bill, this is very good news. Read more here: http://bit.ly/2DhyhWt

LLCs and S-Corps: Circle March 15th on your calendar again. This is your business return deadline.

When faced with a massive tax bill that you can't pay, consider this: It might not be accurate. Some tax professionals don't always catch everything. Often, we can find missing deductions, credits, or other filing options that reduce the liability for taxpayers by reviewing past returns. Taking a good look at past tax returns may reveal that you owe a lot less than you thought.... In this case, it's probably better to simply contest the taxes owed. This is where we come in.

Mark your calendars with these important dates for the upcoming tax filing season. *April 17th is the tax deadline for residents of Maine and Massachusetts.

When you get ready to file your 2018 taxes (personal AND business), you will find out (if you haven’t already) that a lot has changed for this season’s filing. Stay tuned into our page here in the coming weeks for what you need to know.