It’s time for another busy tax season!

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Ledgers we prepare business and individual tax returns, provide tax planning and consulting and we can represent taxpayers before the IRS. We also provide accounting and financial statements for small businesses.

This year there are a few changes to know about:

• The child tax credit has rolled back to a limit of $2,000.00 per child.

• The deduction for out-of-pocket classroom supplies for teachers has increased to $300.

• Qualified business meals are 100% deductible for 2022, normally meals are only 50% deductible.

• The Charitable Contribution deduction is no longer available to those who don’t itemize. But still include your donations because they may be deductible on your state return.

• Taxpayers claiming the Earned Income Tax Credit or Additional Child Tax Credit will have delayed refunds. The IRS holds the refunds until mid-February to protect against identity theft & refund fraud.

• The due date this year is Tuesday April 18th, 2023.

Using licensed and experienced tax return preparers and accountants is always recommended to ensure accurate returns and to take advantage of all tax breaks. We’re here to make filing taxes easier and to maximize the money in your pocket!

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