Adams Bookkeeping Service

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Adams Bookkeeping Service
Adams Bookkeeping Service is listed in the Accountants Certified Public category in Lorain, Ohio. Displayed below is the only current social network for Adams Bookkeeping Service which at this time includes a Facebook page. The activity and popularity of Adams Bookkeeping Service on this social network gives it a ZapScore of 60.

Contact information for Adams Bookkeeping Service is:
5050 Elyria Ave
Lorain, OH 44055
(440) 233-5843

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Adams Bookkeeping Service has an overall ZapScore of 60. This means that Adams Bookkeeping Service has a higher ZapScore than 60% of all businesses on Zappenin. For reference, the median ZapScore for a business in Lorain, Ohio is 36 and in the Accountants Certified Public category is 15. Learn more about ZapScore.

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Questions and Answers about Health Care Information Forms for Individuals (Forms 1095-A, 1095-B, and 1095-C) Because of the health care law, you might receive some forms early in the year providing information about the health coverage you had or were offered in the previous year. The information below is intended to help individuals understand these forms, including who should expect to receive them and what to do with them. The Basics 1. Will I receive any health care tax forms in 2017 to help me complete my tax return? In early 2017, you may receive one or more forms providing information about the health care coverage that you had or were offered during the previous year. Much like Form W-2 and Form 1099, which include information about the income you received, these health care forms provide information that you may need when you file your individual income tax return. Also like Forms W-2 and 1099, these forms will be provided to the IRS by the entity that provides the form to you. The forms are: Form 1095-A, Health Insurance Marketplace Statement. The Health Insurance Marketplace (Marketplace) sends this form to individuals who enrolled in coverage there, with information about the coverage, who was covered, and when. Form 1095-B, Health Coverage. Health insurance providers (for example, health insurance companies) send this form to individuals they cover, with information about who was covered and when. Form 1095-C, Employer-Provided Health Insurance Offer and Coverage. Certain employers send this form to certain employees, with information about what coverage the employer offered. Employers that offer health coverage referred to as “self-insured coverage” send this form to individuals they cover, with information about who was covered and when. 2. When will I receive these health care tax forms? For tax year 2016, the deadline for the Marketplace to provide Form 1095-A is January 31, 2017. The deadline for insurers, other coverage providers and certain employers to provide Forms 1095-B and 1095-C has been extended to March 2, 2017. 3. Must I wait to file until I receive these forms? If you are expecting to receive a Form 1095-A, you should wait to file your 2016 income tax return until you receive that form. However, it is not necessary to wait for Forms 1095-B or 1095-C in order to file. Some taxpayers may not receive a Form 1095-B or Form 1095-C by the time they are ready to file their 2016 tax return. While the information on these forms may assist in preparing a return, they are not required. Individual taxpayers should not wait for these forms and file their returns as they normally would. Like last year, taxpayers can prepare and file their returns using other information about their health insurance. You should not attach any of these forms to your tax return.

Adams Bookkeeping Service shared Fox 8 News's post.
The delays will affect families claiming the earned income tax credit and the additional child tax credit.
WASHINGTON, DC — The IRS is delaying tax refunds for more than 40 million low-income families as the agency steps up efforts to fight identity theft and fraud. The delays will affect families claiming the earned income tax credit and the additional child tax credit. The tax breaks are geared to bene...

moneytips.com 2:49 PM, Jan 9, 2017 3:19 PM, Jan 9, 2017 Copyright 2017 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Show Caption Change is the word for 2017 in many respects. While the incoming Trump administration promises many changes related to taxes, there are already changes written into law that will affect your returns for the 2017 tax year (returns that you file in April 2018), and a few others affecting your 2016 taxes that take effect in 2017. Here are several of the changes to consider: Tax Credit Timing – The Protecting Americans from Tax Hikes (PATH) Act of 2015 established that the IRS cannot send out credits or refunds for overpayments until February 15 whenever the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC) is claimed on the return. This provision takes effect on January 1, 2017. It doesn't affect your 2016 return amount, but it could negatively affect your cash flow if you were counting on a relatively early return to pay bills. Healthcare Coverage – Limits are increasing for tax-deferred Medical Savings Accounts (MSAs) for the self-employed. The maximum deductible amount for out-of-pocket expenses for self-only coverage ($4,500), the deductible limit on a plan with family coverage ($6,750), and the minimum deductible amount for annual family coverage ($4,500) have all increased by $50. The limit on out-of-pocket medical expenses under family coverage ($8,250) increases by $100. What about the Affordable Care Act (aka Obamacare)? The President-Elect has vowed to repeal it and he may have sufficient support in Congress to do so, but for now, the ACA remains the law. People who avoided signing up for health insurance in anticipation of changes are still subject to the lack-of-coverage penalty. The penalty for the 2016 tax year increased to either 2.5% of household AGI or a maximum of $2,085 ($695 per adult, $347.50 per child). For the 2017 tax year, the percentage stays the same, but the per-person fee will be inflation-adjusted. Deductions for Senior Medical Expenses – One potential tax advantage in medical expenses for seniors is going away in 2017. In order to claim a deduction for medical expenses when itemizing, your qualified medical expenses must be greater than 10% of your adjusted gross income (AGI). An exception to this rule allowed seniors to deduct medical expenses over 7.5% of income, but that exception ends after the 2016 tax year. Threshold Adjustments – Thanks to relatively low inflation, the 2017 tax bracket adjustments are minimal. Adjustments range from a $50 income increase for single filers in the lowest tax bracket to a $3,550 increase to reach the 39.6% bracket filing as the Head of a Household. Standard deductions raise $50 for single filers or $100 for married couples filing jointly. The full 2017 tax brackets for use in 2018 filing may be found here. Among the other 2017 adjustments: The phase-out for traditional and Roth IRAs will both rise by $1,000 in 2017 for single taxpayers ($2,000 for married couples filing jointly). Exemption amounts for the Alternative Minimum Tax rise to $54,300 for individual filers and $84,500 for married couples filing jointly. The maximum EITC is now $6,318 for taxpayers filing jointly who claim three or more qualifying children. For more information on adjustments, see the summary page on the IRS website. We suggest keeping up with the headlines throughout the year to find out how much of Trump's proposed tax plans are enacted into law, and the date on which they take effect. Pay close attention to the effective date of changes — changes can be made through legislation that apply to the existing tax year even though the year is nearly complete. Consult the IRS website periodically for any further changes, and be prepared to make any quick alterations to your withholding, investments, or other financial factors. The winds of change will be blowing in very soon. This article was provided by our partners at moneytips.com.

The Internal Revenue Service announced today that the nation’s tax season will begin Monday, Jan. 23, 2017, and reminded taxpayers claiming certain tax credits to expect a longer wait for refunds. Good news for most people but there will a lot of delays this year. The IRS reminds taxpayers that a new law requires the IRS to hold refunds claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) until Feb. 15. In addition, the IRS wants taxpayers to be aware it will take several days for these refunds to be released and processed through financial institutions. Factoring in weekends and the President’s Day holiday, the IRS cautions that many affected taxpayers may not have actual access to their refunds until the week of Feb. 27. Don't shoot the tax preparer. We have no control over when the IRS will release your funds. The IRS is trying to prevent fraud so you will have to be patient if you are expecting a refund this year.

Well it is the first of the year. This means people will be getting their w-2's and other tax papers soon. Just a small suggestion, take all the papers and put them in a large brown envelope as they come in. This will result with all your tax papers in one place when it comes time to file your taxes for 2016.