Arlene L Shults, CPA
Cherry Hill, NJ
tel. 856-874-1890
fax. 856-874-1899
Due Diligence and links for IRS credits
Current Pricing:
*Copies of Returns are available. The fee is $50. Contact: Gary@shultsaccounting.com
Non-Cash Donation Value Guide; use this information carefully. The lower numbers are typically what to use. Higher values within the range would only be applicable to new or like-new items purchased from high-end retailers. If any category of donation equals or exceeds $500, additional information is needed (date of purchase, original cost and date of purchase, in addition to the usual requirement of date/recipient's information/value of donation).
New 2021 - CHILD TAX CREDIT - The Child tax credit has enjoyed many changes for 2021, including pre-payments of 1/2 of the anticipated credit! You can elect out (link to the right) and get the full credit at tax time. The IRS has said that they will mail a notice "by Jan 31st" to be used when reconciling the credit - send this to us with your tax docs!
NEW 2018 20% deduction for pass-through income. The new 199A Qualified Business Income Deduction may apply to you if you have "pass through" income: (Landlords and many Small Business Owners, and many K-1 recipients). This is a potentially HUGE impact, and carries with it an enormous amount of paperwork, multiple calculations, and lengthy discussion! If you are a landlord, a business owner, or K-1 recipient - call us right away!
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