Accounting Group LLC
March 2005 Newsletter

It's that time of year to be organizing your 2004 income tax return information to prepare yourself or have a professional tax preparer help you! Accounting Group is now proud to offer individual and small business (Schedule C-sole proprietorship, single LLC member) tax return preparation services.

By using a tax professional to prepare your tax return, you will be able to take the most tax advantages for your return. Did you know that there are several changes in the IRS tax codes that may qualify you for additional credits toward your tax liability?

• Did you know that for 2004 you can contribute more than you could in 2003 to your 401(k)?
• Did you know that the deduction for qualified college expenses is bigger for 2004?
• Don’t forget the new Sales Tax deduction for 2004. Do you know what your state and local tax rate is?
• Did you know that the auto mileage rates increased in 2004 and again in 2005?
• Did you know that the Deductible IRA limits increased in 2004 and again in 2005?
• Thank goodness for the new tax rates on capital gains and dividends. Do you know what they are?
• Do you know the Five Ways to Beat the AMT (Alternative Minimum Tax which was created to make sure that the taxpayer didn’t have so many deductions and credits that he doesn’t pay some tax)?

If you would like for Accounting Group to prepare your personal and/or small business tax return please contact me today. I have over 25 years in the accounting profession and my rates are 20% - 30% lower then H&R Block. Actual fees are dependent on the number of forms required and complexity.

Sincerely,

Michelle J. Franz, Owner
Accounting Group LLC
http://acctgrp.com