2302 East Oakland Avenue, Suite 6
Bloomington, IL 61701
WE ARE AMERICAN TAX & ACCOUNTING INC.
PROVIDING A FULL RANGE OF ACCOUNTING SERVICES
SMALL BUSINESS ACCOUNTING, TAX RETURN PREPARATION
AND FILING AND PAYROLL SERVICES,
WE HELP SIMPLIFY ACCOUNTING AND BOOKKEEPING PROCESSES.
- Small to medium business accounting
- Preparation of financial statements
- Preparation of sales, payroll, and income tax forms
- Reducing your taxes
- Protecting your assets, and improving your bottom line.
- We can also help businesses identify all of the components necessary to get started.
Our customers include a wide range of businesses including retail, service industries, and professionals of all types.
Our mission at American Tax & Accounting Inc. is to provide each client with exemplary service that is unmatched by any other. We value helping our clients understand how the actions they take during the year could affect their tax result, whether that is a refund or a payment. Recognizing the importance of the bottom line-as an individual or as a business-we at American Tax & Accounting Inc. want to help our clients abide by established statutes and maximize their profit.
To foster an environment of understanding the benefit of long-term planning, we dedicate time and attention to each client, allocating the proper resources to complete each task in a timely and cost effective manner.
American Tax & Accounting Inc. goes above and beyond to satisfy client expectations. Our office is not seasonal, offering services and appointments year round to help beyond the process of filing tax returns. As a comprehensive accounting firm, we understand that our clients' needs are ongoing. We maintain a current understanding of new tax laws and make recommendations for our partners based on individual and business goals.
With school out and the summer jobs starting be sure that you fill out your W-4's for Federal and State as well as the I-9. If you are not provided these forms, ask for them.
If you are working a job that the taxes are not being taken out, you may be considered self-employed. Types of jobs for self-employment can be baby-sitting, mowing lawns, delivering newspapers, ect. Such earnings if over $400.00 will be liable for self-employment tax as well as Federal and State taxes.
Also, tips you receive must be reported to your employer if over $20.00 a month. Tips are considered taxable income and must be reported on your tax return. In some cases, tips will be reported on your W-2 at the end of the year.
The American Opportunity Tax Credit, which offsets higher education expenses, is set to expire after 2012. It may be beneficial to pay 2013 tuition in 2012 to take full advantage of this tax credit, up to $2,500, before it expires.
Business mileage rate as of 01/01/2012 .555 per mile
Moving mileage rate os of 01/01/2012 .23 per mile
Medical mileage as of 01/01/2012 .23 per mile
Charitable mileage os of 01/01/2012 .14 per mile