Couple of changes in the tax laws. In 2021 the child credit was increased to accommodate the advanced payment. In 2022, the amount has gone back to where it was before. So if you claim children, the credit will be a little less this year. The energy credit is back. This year we just need the amount. Next tax year, you will need the manufactures number to get the credit. Standard deduction has increased, however, this year you are not able to take the additional contribution credit.
January 23rd is when the IRS will begin accepting returns. We will open our office January 17th. We will once again be doing drop offs, mail in, or portal. If that presents a problem, give us a call. Please make sure to tell us of any life changing events. For example, death, new birth, new address, marital status. All of these will impact taxes. Starting this year, we will no longer be doing corporate taxes. We sent letters out this summer to give you time to make other arrangements. We will be concentrating on personal, sole proprietor, partnership and fiduciary returns. Our house call dates are March 10th and March 31st. Our prices remain the same as last year.
As our business continues to grow, we have added two new family members to help out. Tara Welnick and Lizzy McMillian. Tara, my daughter, has gone to school for taxes and will be working part time. Lizzy, Erin’s daughter, goes to school and will be helping out in the office. We welcome both of them to the team.
We hope everyone had a good year and we look forward to seeing you soon.