Williams Tax & Accounting, LLC

Tax firms generally have a stigma of being old and stodgy and often times the #website reflects that. Take a look at the website that we designed and developed ...for Williams Tax & Accounting, LLC. It's definitely not old or stodgy! Read more about our process and how we helped Williams Tax & Accounting become one of the fastest-growing CPA firms in the Kansas City metro area. Read More https://cstu.io/7d2e1d

We've been getting lots of questions about the stimulus checks recently, here is the best source for staying up to date on the latest information, straight from the IRS. https://www.irs.gov//economic-impact-payments-what-you-nee

Tax Season is in full swing and we are in need of some help... We are currently interviewing for an Office Assitant position to start at the beginning of March. If you're interested or know someone who is, apply now! https://www.indeedjobs.com/williams-tax--accounting-l//en

What an honor to be mentioned in articles like this. Glad to be serving the Kansas City area. Get ready folks, tax season is nearly here!

Looking for some help!

As you file your 2016 return and plan your 2017 charitable giving, keep in mind the available deduction, which will vary based on not only the amount you give, but also factors such as what you give (for example, cash, long-term appreciated stock or tangible personal property), whether your total donations for the year exceed certain income-based limits, whether you receive a benefit from the charity, and even how the charity uses the gift. Other rules and limits also apply. If you have questions about how much you can deduct on your 2016 return, let us know. http://bit.ly/2lMmqDT

If last year your business made repairs to tangible property, such as buildings, equipment or vehicles, you may be eligible for a valuable deduction on your 2016 income tax return. But make sure they were truly repairs, and not actually improvements, which must be depreciated over a period of years. Some IRS safe harbors can help: 1) the routine maintenance safe harbor, 2) the small business safe harbor, or 3) the de minimis safe harbor. Contact us for details on these safe harbors and other ways to maximize your tangible property deductions. http://bit.ly/2mcp4pY

You probably know that miles driven for business can be deductible. But did you know you may be able to deduct miles driven for other purposes? Rather than keeping track of the actual cost of operating a vehicle, you can use a standard mileage rate when you use your vehicle for the following purposes: Business: 54 cents (2016), 53.5 cents (2017). Medical: 19 cents (2016), 17 cents (2017). Moving: 19 cents (2016), 17 cents (2017). Charitable: 14 cents (2016 and 2017). But the rules surrounding the various mileage deductions are complex, so contact us for details. http://bit.ly/2lMqjIQbut-not-more

The Work Opportunity tax credit (WOTC) can save tax when you hire from target groups. If you made qualifying hires in 2016 and obtained proper certification, you can claim the WOTC on your 2016 return. Also, keep the WOTC in mind in your 2017 hiring. Examples of target groups include the long-term unemployed, qualified veterans and certain government assistance recipients. The credit amount depends on the target group, wages paid and hours worked. It’s generally $2,400 per hire but can be as high as $9,600 for certain veterans. READ MORE: http://bit.ly/2n40Tr7

Do you need to file a 2016 gift tax return by April 18? Generally, you’ll need to file one if you made gifts that exceeded the $14,000-per-recipient gift tax annual exclusion (unless to your U.S. citizen spouse) and in certain other situations. If you transferred hard-to-value property, such as artwork or interests in a family business, consider filing a gift tax return even if not required. Doing so can trigger the statute of limitations, generally preventing the IRS from challenging your valuation more than three years after you file. Have questions? Contact us or read More...http://bit.ly/2lSO7Lv