INNOVATIVE ACCOUNTING SOLUTIONS, LLC

The government has reopened for the time being. Don’t risk waiting for your refund. The sooner you file the sooner you will get your refund. Happy Monday!

Tax season 2019 is officially open. Let the games begin!

IMPORTANT!!! We're still learning how the tax law is playing out and what it all means. It is the biggest overhaul of the federal code in 30 years!!!! The tax law is over 1,000 pages long. IRS still hasn't finalized regulations based on the statutes received from Congress. There are MANY regulations to come even throughout tax season. Plus, IRS is still faced with the shutdown. 1. This ambiguity will make this tax season MORE GRUELING than ever. ... 2. Tax return preparation WILL TAKE LONGER, as our work needs to be double and triple checked manually, since all tax softwares are lacking functions and final regulations. 3. Tax returns WILL BE MORE EXPENSIVE as they will require more analysis and manual work. 4. Make sure GET US ALL THE DOCUMENTS as early as possible so that we can start reviewing HOW THE NEW TAX LAWS IMPACT YOUR SITUATION. If you have questions, please email me at [email protected]. Stay tuned.........

To our clients in the pharmacy business... While no formal guidance has been issued by the IRS at this time, it is our professional opinion that Retail Pharmacies (even though they fall under the definition of "healthcare") will qualify for the deduction under section 199A.

As per NYC Consumer Affairs Department, the word "accountant" cannot be used unless a CPA is present and controls the preparation of all tax returns. Tax preparers MUST disclose if they are NOT an attorney or CPA. Happy 2019 Tax Filing Season!