Webco Accountbooks, LLC A Professional Tax and Accounting Service.

BOI (beneficial Ownership Information) is back on with a due date of January 13, 2025. There are steep penalties for not filing. If you formed a company (LLC or otherwise) you should check the website to see if you need to file.

Check https://fincen.gov/boi for more info.
Use https://boiefiling.fincen.gov/boir/html to file electronically.

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Confirmed. Tax season officially starts Jan 28th 2019 and they plan on issuing refunds on time.

IRS Confirms Tax Filing Season to Begin January 28 | Internal Revenue Service IR-2019-01, January 7, 2019 ― Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled.

Just in case you didn’t get your stuff together, you have one more day.

IRS provides additional day to file and pay for taxpayers through Wednesday, April 18; IRS processing systems back online | Internal Revenue Service IR-2018-100, April 17, 2018 — The Internal Revenue Service announced today that it is providing taxpayers an additional day to file and pay their taxes following system issues that surfaced early on the April 17 tax deadline.

Important tax update...

On 12/22/2017, president Trump signed the tax reform bill into law. One of the effects of the bill is a reduction to the itemized deductions for state and local taxes. States with a higher income tax rate and/or high property taxes will be affected negatively. If you normally itemize deductions (see your past tax returns and look for schedule A) your deductions for state and local taxes (SALT) will be capped at $10,000. The governor of NY signed an executive order allowing New York residents to prepay 2018 property taxes. Since we are near the end of the year, Time is of the essence. Payments are accepted in person but 12/29 (the last business day of the year) or online and postmarked by 12/31.

Governor Cuomo Takes Emergency Executive Action to Deliver Property Tax Deductibility For New Yorkers Governor Cuomo issues an emergency Executive Order to help protect property owners in New York from the devastating impact of the GOP tax bill.

Attention Atlanta!!!

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New tax law in effect to help you get back more money and some of it you may even be able to get immediately. Click below for more details.

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Tax season is well under way. I hope everyone is/has gotten their taxes done accurately. If anyone would like a second look at their taxes or are unsure of some items on your tax return, call or email me. I will take a free look at your return even if you've filed for 2013 already.

From our family to yours, wishing everyone a happy and safe holiday season!

Here are the official tax brackets for taxes owed in 2013 (2012 income) and 2014 (2013 income).



I’ve received questions from people on how this works. Here’s a high level view of what this chart means. Let’s say you made $60,000 for the year. All income is from a job. Let’s say after all of your adjustments, credits and deductions your taxable income comes out to be $40,000. This puts you in the 25% tax bracket if you’re filing single, 15% married filing joint, 25% married filing separately and 15% for head of household. Let’s take the single case in 2013.

10% = $ 892.50
20% (36,250 – 8,925) = $27,325 = $ 4,098.75
25%(40,000 – 36,250) = $3,750 = $ 937.25

Total Tax = $5928.50



This is a simplified example. Some people believe if you are in a 25% bracket, all of your income is taxed at that rate. Each level is calculated separately until all of the income is taxed at some rate. Hope this helps.

Happy tax day!!! I hope everyone got all the money they were supposed to get. Remember tax planning is year round. Now is the time to make changes and maneuver through the year to make next tax season work for you. Remember you can always adjust your w-4 for your specific tax situation.

One of the features of my tax preparation business is a free review of any transaction that could cause a tax consequence during the year. Many times if I know about a transaction during the year, there may be some ways we can help offset the tax liability. Once the year is over, there is nothing we can do about the past. It perplexes me when people don't use this valuable resource.

This week the IRS will be accepting returns with education credits and depreciation.

In wake of blizzard like conditions, Webco Accountbooks wants to remind everyone to stay inside and stay warm.