Was Your Income Tax Return Selected for an Audit?

Did you know that income tax audits can be completed through the mail or in person? 

The IRS determines how to complete your audit based on certain factors, like how complex the return is. In general:

• Correspondence audits (via mail) are used for simple, individual returns (Form 1040) 
• Face-to-face audits (“office audits”) are held in IRS offices for more complex issues
• Very complex income tax returns are audited at the taxpayer’s place of business

If your return is selected for audit, you can make the process easier on yourself following these tips:

• Always maintain accurate, well organized records
• Respond to all requests for information promptly
• Only provide the requested info
• Be calm and polite

Call us for help on your income tax in the Ann Arbor area. 

Learn more on our website!

Are You Prepared for Year-End Bookkeeping?

For a small business, year-end bookkeeping is a way to wrap up the past year, calculate your tax obligation, and reflect on your business needs moving forward. It’s also one of the most notoriously complex and disliked parts of owning a business. Its complexity is compounded by complicated laws that can change from year to year. Failing to keep up with the laws or with the bookkeeping can leave you in debt or in trouble with the IRS. 

Many business owners just starting out plan to do their own bookkeeping to save money, but often find that bookkeeping involves more than they expected. Year-end bookkeeping isn’t as simple as reconciling a checkbook. It is a multi-faceted process that requires a basic understanding of laws that affect your business. 

Before you begin to wrap up this year, it’s important to take an honest look at your bookkeeping habits, needs, and level of comfort with the tasks you’re about to tackle. Ask yourself:

• Am I organizing my paperwork and accounts efficiently every month?
• Am I confident that I understand the tax laws that apply to my business and how to complete the appropriate bookkeeping?
• Do I have time to do this myself, or would it be more beneficial for me to focus on my business and hire a bookkeeper? 

If you’re not sure, visit Amador Accounting or call Lisa Amador at 734-330-0907.

When to Report Your Tax Specialist to the IRS

Are you worried you didn’t go through a legitimate tax preparation office to file your taxes?

Do you think your information may have been compromised?

Do you suspect your tax preparer of wrongdoing?

If you suspect any misconduct by your tax preparer, you should report them to the IRS immediately. For example, you can report a tax return preparer for:

• Embezzling your refund.
• Altering your tax return documents.
• Filing a return without your consent.

For more tips, continue reading here.

Looking for More Information?

Contact Amador Accounting today! Lisa Amador is the best tax specialist in Belleville, Ann Arbor, Ypsilanti, Saline, Canton and the surrounding areas. If you have a problem and need a solution, Lisa Amador can help you get organized and provide immense value to your business. (734) 330- 0907

How to Find a Good Tax Specialist in Belleville

Having a hard time finding a good tax specialist in Belleville, Michigan?

Are you worried about compromising your personal information?

What are traits you should be looking for in a good tax professional?

According to the Internal Revenue Service (IRS), you should do the following to ensure you’re working with a professional tax preparer.

1. Check the preparer’s qualifications using the IRS directory.
2. Check the preparer’s history.
3. Ask about service fees.
4. Ask to E-file.

For more tips, continue reading here.

Looking for More Information?

Contact Amador Accounting today! Lisa Amador is the best tax specialist in Belleville, Ann Arbor, Ypsilanti, Saline, Canton and the surrounding areas. If you have a problem and need a solution, Lisa Amador can help you get organized and provide immense value to your business. (734) 330- 0907

How Will President Trump’s New Tax Reform Affect You?

Your tax bracket could change! See the tax brackets here for single filers verses married taxpayers filing jointly. 

According to MSN Money, “In 2017, the standard deduction for a single taxpayer was $6,350, plus one personal exemption of $4,050.

The House plan would combine those into one larger standard deduction for 2018: $12,200 for single filers and $24,400 for joint filers. Under the Senate proposal, these would be slightly lower, at $12,000 for single filers and $24,000 for joint filers.”

Taxpayers will have to pay more, eliminating most itemized deductions like school loans, moving expenses, theft loss of valuables, and electric vehicles. Learn more!

Looking for More Information on Income Tax Filing in Belleville?

Schedule a free consultation with Lisa Amador, Enrolled Agent! She’ll walk you through the entire income tax filing process and will be able to customize a plan that fits your needs. Do you need help with tax preparation? She can help you organize your files and help prepare you for tax season. Call today! (734) 330-0907

What You Need to Know About Filing Your Taxes in 2018

Do you need to file?

It depends! In 2017, if you’re under age 65 and single, you must file a tax return if you earned $10,400 or more, which is the sum of the 2017 standard deduction for a single taxpayer plus one exemption. Do you meet these requirements? If so, you must file your income taxes.

Looking for More Information?

Schedule a free consultation with Lisa Amador, Enrolled Agent! She’ll walk you through the entire process and will be able to customize a plan that fits your needs. Do you need help with tax preparation? She can help you organize your files and help prepare you for tax season.

Income Tax Filing in Belleville and the Surrounding Areas.

Contact Amador Accounting today! Lisa Amador is an expert in income tax filing in Belleville, Ann Arbor, Ypsilanti, Saline, Canton and the surrounding areas. If you have a problem and need a solution, she can help you get organized and provide immense value to your business. (734) 330-0907

Red Flags for the IRS that May Trigger an Audit!

Even if there’s no funny business going on, the IRS may still run an audit on your business. Its best to be prepared as possible, and know what they are looking for, including:

• Making a lot of money
• Failing to report all taxable income received 
• Taking higher than average deductions
• Deducting large charitable donations
• Deducting business meals, travel and entertainment expenses 
• Not reporting a foreign bank account 
• Claiming 100% business use of a vehicle 
• Failing to report large gains from gambling or claiming big losses in gambling
• Claiming the home office deduction 
• Claiming the foreign earned income exclusion 

Nobody wants to be audited! Even if you’ve done everything right, you can still miss important aspects that might lead to an audit. Taxes are confusing! Don’t miss out on the chance to keep your money, get more of it back, and achieve that feeling of safety. When you hire Lisa Amador to do your taxes, she won’t miss a thing. 

Tax specialist in Belleville and the surrounding areas

Contact Amador Accounting today! Lisa Amador is the best tax specialist in Belleville, Ann Arbor, Ypsilanti, Saline, Canton and the surrounding areas. If you have a problem and need a solution, Lisa Amador can help you get organized and provide immense value to your business. (734) 330- 0907 

What has changed since last year?

Taxes are ever changing, and often it’s hard to keep up with what’s new and what no longer applies. 

Here are some changes to look out for:

• Late refunds- An act passed in 2015 says that the IRS cannot send out refunds until February 15^th when the Earned Income Tax Credit or the additional child tax credit is claimed on the return. 
• Deductions for Senior Medical Expenses- to claim a deduction for medical expenses, the expenses must be greater than 10% of your adjusted gross income. 
• Threshold adjustments - phase out for Traditional and Roth IRA’s will both rise $1000 in 2017 for single tax payers ($2000 for couples filing jointly). 
• Exemption amounts for the Alternative Minimum Tax rise to $54,300 for individual filers and $84,500 for married couples filing jointly who claim three or more qualifying children.

Tax specialist in Belleville and the surrounding areas

Contact Amador Accounting today! Lisa Amador is the best  tax specialist in Belleville, Ann Arbor, Ypsilanti, Saline, Canton and the surrounding areas. If you have a problem and need a solution, Lisa Amador can help you get organized and provide immense value to your business. (734) 330- 0907 

What Business Expenses Should I Be Keeping Track of To Write Them Off?

Want to save money on your taxes?

Have you been spending a lot of money on business improvements?

What business expenses should you track to be able to write off at the end of the year?

We’ll tell you everything you need to know to prepare yourself for next year’s tax filing! At Amador Accounting, we want you to save money at the end of the year. Avoid stressing out later and prepare your records now! 

Here’s a partial list of expenses you should be keeping track of, including:

1. Mileage – This is important if you provide services elsewhere, rather than in an office setting.
2. Travel expenses – If you travel a lot for business you’ll want to keep track of gas and oil, repairs, rental fees, tolls, parking fees, insurance premiums, etc.
3. Self-improvement expenses – You may be able to deduct the cost of any kind of training program such as seminars, manuals, books, classes, etc. 
4. Home office deductions – If you work out of a home office you may qualify for a home office deduction including writing off the cost of maintaining your work space.
5. New office equipment – Equipment that is used to solely run your business can be deducted.
6. Startup costs – If this is the first year of your business, you can deduct up to $5,000 in expenses, an additional $5,000 of legal, filing, and accounting fees may be deducted if your business is structured as a partnership or corporation. amounts over $5,000/$10,000 can be amortized.
7.  Health insurance – If you’re self-employed, you may be able to deduct your insurance premiums.

Looking for More Information?

Schedule a free consultation with Lisa Amador, Tax Consultant! She’ll walk you through the entire process and will be able to customize a plan that fits your needs. Do you need help with tax preparation? She can help you organize your files and help prepare you for tax season.

Tax Consultant in Belleville and the Surrounding Areas.

Contact Amador Accounting today! Lisa’s a tax consultant specializing in small business bookkeeping in Belleville, Ann Arbor, Ypsilanti, Saline, Canton and the surrounding areas. If you have a problem and need a solution, Lisa can help you get organized and provide immense value to your business. (734) 330-0907

IRS Notices: What to Watch Out For!

Do you receive robo calls for offers that sound too good to be true?

Have you or someone you know received a phone call regarding fictitious tax bills and demands to pay by purchasing a gift card?

Are you receiving phone calls from someone telling you they’re with the IRS?

How to Know It’s Really the IRS Calling

According to the IRS, “they will initiate most contacts through regular mail delivered by the United States Postal Service. However, there are special circumstances in which the IRS will call or come to a home or business, such as:

• when a taxpayer has an overdue tax bill,
• to secure a delinquent tax return or a delinquent employment tax payment, or,
• to tour a business as part of an audit or during criminal investigations.”

Imagine your personal information getting into the wrong hands. At the least, you may spend a lot of time making frustrating calls to your bank or credit reporting bureau to make sure your information wasn’t compromised. At worst, your bank accounts could be cleaned out!

Lisa can help you get your finances under control! You need to be keenly aware of your financial situation to avoid being duped. She can help you manage and organize your records so you can make better decisions now and in the future. 

What are you waiting for? Get started today!

Tax Consultant in Belleville and the Surrounding Areas.

Contact Amador Accounting today! Lisa Amador is a tax consultant in Belleville, Ann Arbor, Ypsilanti, Saline, Canton and the surrounding areas. If you have a problem and need a solution, she can help you get organized and provide immense value to your business. (734) 330-0907

How to Make Tax Time a Breeze with Quickbooks

Does tax time stress you out?

Are you looking for ways to make tax season easier?

Do you have a process in place that will help things go smoothly?

Have you considered hiring an enrolled agent to help you out?

At Amador Accounting, we get things done on time and on budget. If you’re worried about tax preparations … we’ve been there. Lisa Amador, who is an enrolled agent, will help you manage and organize your records so you can be on track for the end of the year. She can even help you file your taxes on your behalf.

According to Intuit Quickbooks, you can make tax time a breeze by: 

1. Knowing your W2 deadlines
2. Verifying information now to avoid headaches later
3. Checking taxes and wages before filling out forms
4. Simplifying your 1099s with the Quickbooks Wizard to help you save time and 
5. easily file your 1099-MISC forms
6. Checking your inventory to get an accurate total of cost of goods sold
7. Writing down all your possible deductions
8. Fixing any mistakes before you start tax preparation
9. Reconciling bank accounts and credit card statements 

For your business to prosper you need to be keenly aware of your financial activities. With Lisa’s help, you’ll be able to understand and project earnings faster and with ease. What are you waiting for? Get started today!

Accounting Services in Belleville and the Surrounding Areas.

Contact Amador Accounting today! We’re the experts when it comes to accounting services in Belleville, Ann Arbor, Ypsilanti, Saline, Canton and the surrounding areas. If you have a problem and need a solution, Lisa Amador can help you get organized and provide immense value to your business. (734) 330-0907

Reasons to Outsource All Your Bookkeeping Processes!

Do you want more time to focus on growing your business?

Are you debating with yourself about outsourcing your bookkeeping processes?

Are you having trouble finding a reputable service for small business bookkeeping in Belleville or areas nearby?

Lisa Amador is the expert when it comes to small business bookkeeping! She can help make your internal processes more efficient, help you track your expenses, manage invoicing better, and even help you make your business decisions easier.

Need more reasons to outsource your bookkeeping?

1. More free time to grow your business!
2. Gain confidence and peace of mind!
3. Improve company operations!
4. Protect your company from fraud before it happens!

Not Ready to Outsource Everything Just Yet?

Take baby steps. Schedule a free consultation with Lisa Amador, Enrolled Agent! She’ll walk you through the entire process and will be able to customize a plan that fits your needs. Do you want to try it for a few months? She can do that too! Lisa can customize any plan and process and hand it off to you when you’re ready to take over. 

Small Business Bookkeeping in Belleville and the Surrounding Areas.

Contact Amador Accounting today! Lisa’s the expert when it comes to small business bookkeeping in Belleville, Ann Arbor, Ypsilanti, Saline, Canton and the surrounding areas. If you have a problem and need a solution, Lisa can help you get organized and provide immense value to your business. (734) 330-0907

How We Stay Relevant For Our Clients All Year!

Do you have your day-to-day transactions under control?

Are you aware of all of your business expenses?

Do you need accounting services all year around?

Imagine how relieved you’ll feel at the end of the year when you don’t have to scramble to find your financial statements. Stacks of disorganized paperwork can be overwhelming. Lisa Amador, Enrolled Agent, can help your business get on the right track!

We can stay relevant for you all year long, offering an array of useful services including:

• Entering data
• Managing day-to-day transactions
• Customer invoicing and collections
• Credit card management
• Tracking sales tax and payroll tasks
• Providing up-to-date information to help you make decisions about hiring
• Deciding which marketing strategies are working and how profitable a project or job was or could be
• Helping make year-end and tax season easier by having all your information ready

If you need help setting short term and long term strategies to improve your business operations, you need an enrolled agent on staff. Expert guidance when it comes to all things accounting is our specialty!  

Accounting Services in Belleville and the Surrounding Areas.

Contact Amador Accounting today! We’re the experts when it comes to accounting services in Belleville, Ann Arbor, Ypsilanti, Saline, Canton and the surrounding areas. If you have a problem and need a solution, Lisa Amador can help you get organized and provide immense value to your business. (734) 330-0907