Ashland Tax & Business Services, Inc. is a charter member of the Clay County Chamber of Commerce. Patricia volunteered her services in organizing the Chamber, and used the resources of her office to apply for and receive recognition of the Chamber for tax exempt status with the Internal Revenue Service.

They have been helping individuals and businesses in and around Clay County since 1986. They offer all types of Federal and State tax preparation, accounting, payroll and sales tax services. And if you are having computer problems, they can help with that too.

The staff includes two Enrolled Agents available year round, Patricia Mitchell and Tim Rude. An ‘enrolled agent’ is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service. Enrolled agents, like attorneys and certified public accountants (CPAs), are generally unrestricted as to which taxpayers they can represent, what types of tax matters they can handle, and which IRS offices they can practice before. In contrast, practice before the IRS is much more limited for other individuals.

Patricia and Tim have each demonstrated special competence in tax matters and have passed a background check with the Internal Revenue Service. Additionally, as EA’s they are required to maintain their skills by continuing education each year.

The firm’s mission is to help their clients achieve success by providing personalized attention and a commitment to service that addresses not only today’s needs but tomorrow’s plans. They provide excellent service, placing a premium on timeliness, thoroughness and accuracy.

This year there are many changes to be aware of before filing your tax returns.

• Making Work Pay Credit: Most people who have earned income from work are eligible for a tax credit this year of up to $400 ($800 for a married couple).
• American Opportunity Education Credit: Tax credits for college education have been expanded and increased. And now some of these credits can even generate a tax refund when in prior years they could not.
• Unemployment Compensation: The first $2,400 of unemployment compensation received for 2009 is tax free. Amounts over $2,400 are still taxable.
• New Vehicle Sales Tax Deduction: If you bought a brand new motor vehicle in 2009 after February 16, you may be able to deduct the sales tax even if you file the short form.
• New Rules for Parents who Divorce in 2009 or Later: In order for the non-custodial parent to claim a dependent exemption for a child, IRS form 8832 (a release signed by the custodial parent) must now be attached to the return. This is true even if the divorce decree states that the non-custodial parent is allowed to claim to the child as a dependent. A copy of the divorce decree is no longer sufficient.
• Home-Buyer Credits: First-time home-buyers (who did not own a home within the last three years) can receive a tax credit of up to $8,000 for a home purchase between 1/1/2009 and 4/30/2010. Long-time home-buyers (who have owned and lived in the same home for at least five consecutive years out of the last eight) who purchase a new home between 11/7/2009 and 4/30/2010 can receive a tax credit of up to $6,500. The credit for a home purchased in 2010 can even be claimed on the 2009 tax return, to speed up getting the refund.
• Tax Credits for Energy Saving Improvements: A number of energy saving items that homeowners purchase in 2009 are eligible for tax credits. There are specific requirements that have to be met in order to qualify.

This is just an brief overview of the tax changes for this year. For more information please stop by or call Ashland Tax & Business Services, Inc. From the square in Ashland go south on Hwy 9 about 2 blocks. The office is located on the corner of Hwy 9 and 3rd Ave S.

82948 Highway 9
Ashland, AL 36251
Phone: (256) 354-3166 / Fax: (256) 354-0066
Email: taxpros@ashlandtax.com
Website: www.ashlandtax.com