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2024 Tax Changes

  At a glance: The standard deduction has increased, as have contribution limits for retirement accounts. Reporting thresholds for Form 1099-K have dropped, meaning more people should receive this form this year. Some tax credits also saw changes, including the EITC and Adoption Credit. Federal tax bracket changes for 2024 The Internal Revenue Service (IRS) tweaks the tax brackets with yearly inflation adjustments. This means you could find yourself in a lower tax bracket, even if your income hasn’t changed much. 2024 tax rate updates There are still seven individual income tax rates ranging from 10% to 37%, depending on the following income thresholds for each tax filing status: Tax rate Single filer Married filing jointly Married filing separately Head of household 10% $0 to $11,600 $0 to $23,200 $0 to $11,600 $0 to $16,550 12% $11,601 to $47,150 $23,201 to $94,300 $11,601 to $47,150 $16,551 to $63,100 22% $47,151 to $100,525 $94,301 to $201,050 $47,151 to $100,525 $63,101 to $10...
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W4 Tutorial (Withholdings) & Calculator

 W4 Tutorial The W4 is the form you fill out for your employer to ensure you have adequate withholdings throughout the year, based upon your unique tax situation. You will receive a refund of any excess withholdings that you have when you file at tax time. If you have multiple jobs or your spouse is also employed, you need to account for that other income or it will not figure your withholdings accurately. Your HR department may have W4 assisted forms / calculators within your payroll login area to assist you with filling this form out. 2018 tax legislation created a lot of changes, which eliminated exemptions & changed how the W4 is calculated. Watch the following video which explains how to fill out the W4 for the most current tax year (2023). Here is a link for the IRS W4 calculator tool that will generate a pdf of the most accurate W4 for you based upon the information that you enter. This will also be explained within the video. You will need your most current paycheck st...
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Creating IRS login, view transcripts, online payments & refund status

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 Instructional video for creating an IRS.gov account to view your account balances, download transcripts, make online payments, track refunds etc. At the time of posting, the IRS has partnered with ID Me to verify identities as a part of creating an account on IRS.gov . Please follow the on-screen prompts & have all of the information requested handy in order to complete this process. (Video via Tax Tutor) Where's My Refund? (Fed & State) You can now check on the latest 3 years of Fed filings for " Where's my Refund " tool. IRS-2-Go App will allow you to check refund status as well. IRS: Arkansas: For the state of Arkansas you can go to atap.arkansas.gov Enter primary taxpayer SSN & expected refund amount. Missouri: To check on the refund status for the state of Missouri, you would go to Missouri Return Tracker website & enter your details.
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Instructions for Taxes-To-Go App

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Free App Download Here!  (Android / Apple) Instructional video. Notice: App appearance will change over time. If you download from our links to our branded app, your information should automatically be imported into our software. If you have accessed the generic app from the app store, then you will be given a code after submitting your information that you will need to forward to our office. In that case, send the code & email address used to sign up with, to (870) 208-4089 & you will be manually imported into the software. Any questions that you may have you can contact us using the same number.
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2023 Tax Changes

Comprehensive Tax Changes for Tax Year 2023 Income Tax Brackets 2023  Although the tax rates didn't change, the income tax brackets for 2023 are much wider than for 2022. The difference is due to the rising inflation during the 12-month period from September 2021 through August 2022, which is used to calculate the adjustments.  2022 Tax Brackets for Single/Married Filing Jointly/Head of Household Tax Rate Taxable Incme (Single) Taxable Income (Married Filing Jointly) Taxable Income (Head of Household) 10% Up to $11,000 Up to $22,000 Up to $15,700 12% $11,001 to $44,725 $22,001 to $89,450 $15,701 to $59,850 22% $44,726 to $95,375 $89,451 to $190,750 $59,851 to $95,350 24% $95,376 to $182,100 $190,751 to $364,200 $95,351 to $182,100 32% $182,101 to $231,250 $364,201 to $462,500 $182,101 to $231,250 35% $231,251 to $578,125 $462,501 to $693,750 $231,251 to $578,100 37% Over $578,125 Over $693,750 Over $578,100 Long-Term Capital Gains Tax Rates Tax rates on long-term capital gains...
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