THE TAX SHACK LLC

 

2007 has been a fabulous year! I want to give a big THANK YOU to all of our loyal clients. You guys are wonderful and we wouldn’t be here without you! Here are some exciting things happening at the Shack.

The bookkeeping and payroll side of the business is growing! Thank you to everybody who has brought their small business stuff to me and thank you for all of your referrals! Also, the Tax Shack finally has its own web site! You can view it at http://www.taxshackllc.com. You can use it to get copies of our checklists, view our updated price list, see special offers, find out the latest IRS news, and more! We are also now Authorized QuickBooks, Quicken and Turbo Tax Affiliates, which means you can use our web site to compare, purchase, and use different software packages!

Some information that will/may affect your tax return:
- Increased Standard Deduction
- Personal exemption increased to $3400
- Income limits for Earned Income Credit increased
- Standard Mileage rates went up:
         business miles 48.5 cents per mile
         charitable miles 14 cents a mile
         medical miles 20 cents a mile

The IRS has changed the record keeping requirements for cash contributions to charities and now requires a written record of all donations regardless of the amount!

You will also see the return of two credits for 2007, however this is the LAST year for both of them! The first being the sales tax credit! And the second is the energy credit to homeowners who make energy conserving home improvements to their houses. Remember! The credit is only for materials and appliances purchased and not for the labor to install. Here’s a recap of the eligible items:
- insulation systems that reduce heat loss/gain
- exterior windows (including skylights)
- exterior doors
- metal roofs (meeting applicable Energy Star requirements)
- advanced main air circulating fan
- qualified natural gas, propane, or oil furnace/hot water boiler
- qualified energy efficient property
- solar panels

Our office hours beginning January 2nd will be Monday-Friday 9:00am to 6:00pm and Saturday 10:00am to 4:00pm. We look forward to seeing you again and thank you for the opportunity to serve your tax preparation needs.

Tara, John, and Kathy

The Tax Shack, LLC Privacy Policy:
We do not disclose any non-public information about our customers or former customers to anyone, except as instructed to do so by such customers or as required by law. We restrict access to non-public, personal information to those professionals necessary to complete your tax return or resolve your tax problems. We maintain physical, electronic, and procedural safeguards to guard your non-public, personal information.

Every year the Tax Shack LLC sends a newsletter to its loyal clients.  This letter contains the latest changes that could affect your taxes, as well as gives an update on how the business is doing.  If you would like a newsletter sent to you and you are not a client, then just send us an email with your name and address.  Contact Us   Thank you!