R MICHAEL KNIGHTEN
Trustworthy. Professional. Responsive. Personal
Just Better
Income tax preparers are all different. Some emphasize their firm size and history, some talk about their credentials and experience and yet others promise you the lowest price for tax preparation. How does one choose the best tax preparer for their individual, business, nonprofit, or trust return?We think you should consider the following when you are trying to find a tax return preparer:
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Qualifications are important. Tax regulations change all the time, and it takes resources to keep up with it all. I am a certified public accountant who is required to take at least 40 hours of continuing professional education every year. I spend a lot more time than that on CPE and daily reading to ensure I am on top of regulatory changes and tax court rulings.
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Mutual respect is essential. You should feel comfortable asking your tax return preparer questions about how they prepare your tax return without feeling intimidated. I enjoy answering your questions and educating you on your tax situation, and I equip you with steps you can take to lower your taxes next year.
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Price is a key factor but make sure you know how comprehensive the tax preparation service is. Many tax professionals are missing in action between April 15 your engagement letter. Can you count on their help? Will they charge you to correct errors they made? If you call with a question, will you receive a bill for it? If you are looking for an income tax preparer who you can trust to file your taxes correctly and efficiently, and stand by you if the IRS comes knocking, you have come to the right place. I would love to meet you, answer your questions, and provide a quote. Just give me a call!
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Update On Proposed Tax Law Changes In The House And Senate
Matthew E. Erskine, JD, Contributor for Forbes
As Congress advances into the 2025 legislative session, tax reform has emerged as a central focus for both the House and Senate. The Republican-led initiatives aim to extend and expand upon the 2017 Tax Cuts and Jobs Act (TCJA), while also introducing new measures that could significantly reshape the U.S. tax landscape. This article provides an overview of the latest tax proposals, highlighting key provisions and their potential implications.
House Republicans' Tax Proposal: Extending and Expanding the TCJA
On May 9, 2025, House Republicans unveiled a comprehensive tax package designed to make permanent many provisions of the TCJA, which are set to expire at the end of 2025. Key elements of the proposal include:
Permanent Extension of Individual Tax Rates: The bill seeks to solidify the individual income tax rates established under the TCJA.
Increase in Qualified Business Income Deduction: The deduction for pass-through entities would rise to 22%, benefiting small businesses and sole proprietors.
Estate Tax Exemption Enhancement: The estate tax exemption would increase to $15 million, effectively reducing the number of estates subject to the tax.
Standard Deduction and Child Tax Credit Adjustments: The standard deduction would see a temporary increase, and the child tax credit would rise to $2,500 through 2028.
Notably, the proposal omits adjustments to the state and local tax (SALT) deduction cap, a point of contention among lawmakers from high-tax states.
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R Michael Knighten​
Certified Public Accounant
9073 Helena Drive
Pike Road, AL 36064