Engelbert Tax Services

Have you wondered what your taxes would look like if you filed under next year's tax law changes? Ask your tax preparer/CPA/EA for a proposed tax return based on next year's tax law. All of the software companies have implemented a simple program to give you an idea so you can plan your taxes. This tax year of 85 clients, I have only one who would owe under the next tax law changes. 84 has seen an increase from $4.00 to $4,500.00. Make sure to ask.

Hi, It has been a while since I posted to Engelbert Tax Services and I need to get this out. Everyone has probably heard/read/listened to/inundated with the tax law changes coming down the pipeline. What this means to you:... 1. The Senate passed their bill on Saturday the 3rd of December. The House passed their bill previously. 2. The two bills are close, but in the tax world, close is not good enough (only in hand grenades and horseshoes). They will now have a Joint Committee on Taxation (the JCT) meeting and reconcile the two tax bills. 3. Please avoid listening to the media (both mainstream and alternative). Their is just too much misinformation out in the public, it does you nothing to listen to. 4. Stay tuned. If you really really need something to read please visit www.forbes.com and read anything from Kelly Erbs or twitter taxgirl. I hope this Holiday Season is finding everyone well and stay tuned to more tax information coming from Engelbert Tax Services.

With tax law changes hitting the new year, small business owners want to avoid getting caught in new regulations that will easily overwhelm them.

and it begins! First tax return for 2015 has been completed

Quick, name a form you work with that is one page long, but needs 11 pages of instructions to properly calculate or you will be subject to receiving a penalty that is equal to 1% of your Adjusted Gross Income? Have fun with those off the shelf tax preparation software. (FYI, the Form 8965 Health Coverage Exemption is the dastardly slayer of time management).

In the recently enacted "Tax Increase Prevention Act of 2014," Congress has once again extended a package of expired or expiring individual, business, and energy provisions known as "extenders." The extenders are a varied assortment of more than 50 individual and business tax deductions, tax credits, and other tax-saving laws which have been on the books for years but which technically are temporary because they have a specific end date. Congress has repeatedly temporarily ex...tended the tax breaks for short periods of time (e.g., one or two years), which is why they are referred to as "extenders." The new legislation generally extends the tax breaks retroactively, most of which expired at the end of 2013, for one year through 2014. If you would like more details about these changes or any other aspect of the new law, please do not hesitate to call.

FYI, please call if you are concerned about your Foreign Bank Account!

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