Advantage Tax Services

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Advantage Tax Services
Advantage Tax Services is listed in the Tax Return Preparation & Filing category in Spartanburg, South Carolina. Displayed below is the only current social network for Advantage Tax Services which at this time includes a Facebook page. The activity and popularity of Advantage Tax Services on this social network gives it a ZapScore of 60.

Contact information for Advantage Tax Services is:
575 W Main St
Spartanburg, SC 29301
(864) 585-7052

"Advantage Tax Services" - Social Networks

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Advantage Tax Services has an overall ZapScore of 60. This means that Advantage Tax Services has a higher ZapScore than 60% of all businesses on Zappenin. For reference, the median ZapScore for a business in Spartanburg, South Carolina is 37 and in the Tax Return Preparation & Filing category is 38. Learn more about ZapScore.

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Advantage Tax Services Contact Information:

Social Posts for Advantage Tax Services

New Tax Bill Standard Deductions - Did You Know? For those that opt to take the standard deduction on their taxes rather than itemized deductions, the Tax Cuts and Jobs Act (H.R 1) increases the amount you can deduct until 2025, when the provision is set to expire. The amount goes from $6,350 to $12,000 for single filers and from $12,700 to $24,000 for those filing jointly.

2018 New Tax Laws - Tax Rates The Tax Cuts and Jobs Act (H.R 1) was approved by Congress and signed into law on December 22, 2017. This legislation does not apply to your 2017 taxes. In the months to come, more information and tips about the new tax laws will be posted to this page. Be sure to Like and Follow this page so you don't miss any opportunities to save! The number of brackets for 2018 going forward remain at 7, but rates overall have been lowered. Individual Returns: 10% ($0-$9,525) 12% ($9,525-$38,700) 22% ($38,700-$82,500) 24% ($82,500-$157,500) 32% ($157,500-$200,000) 35% ($200,000-$500,000) 37% (over $500,000) Joint Returns: 10% ($0-$19,050) 12% ($19,050-$77,400) 22% ($77,400-$165,000) 24% ($165,000-$315,000) 32% ($315,000-$400,000) 35% ($400,000-$600,000) 37% (over $600,000)

2018 Filing Season The IRS has announced that the 2018 filing season starts on January 29th, 2018 with the deadline being April 17, 2018. The IRS has also issued a reminder that refunds for returns claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) will be delayed. Refunds involving those credits are expected to be available starting February 27, 2018.

Prepaid Property Taxes - Did You Know? Prepaying 2018 state and local real property taxes in 2017 may be tax deductible only under certain circumstances. Yesterday (12/27/2017), the IRS issued the following advisory: "In general, whether a taxpayer is allowed a deduction for the prepayment of state or local real property taxes in 2017 depends on whether the taxpayer makes the payment in 2017 and the real property taxes are assessed prior to 2018. A prepayment of anticipated real property taxes that have not been assessed prior to 2018 are not deductible in 2017. State or local law determines whether and when a property tax is assessed, which is generally when the taxpayer becomes liable for the property tax imposed." You can find the full IRS advisory (including two example scenarios) at https://www.irs.gov/newsroom/irs-advisory-prepaid-real-property-taxes-may-be-deductible-in-2017-if-assessed-and-paid-in-2017

New W-2, W-3 and 1099-MISC Forms Deadline - Did You Know? The Protecting Americans from Tax Hikes (PATH) Act, enacted last December, sets a new date of January 31st as the filing deadline for employers for the W-2, W-3 and certain 1099-MISC forms. The extension procedure for Form W-2 has also changed in that only one 30-day extension is possible and this extension is not automatic. The IRS will only grant extensions for very specific reasons.