Services We Offer
  Tax Preparation and Filing

Whether you’re a self employed individual or filing as a corporation, get peace of mind with taxes done correctly and efficiently. (Get More Info)

  IRS Tax Problems Resolution

Whether you’re facing tax levies, liens, or garnishments, don’t face the IRS alone. We may even be able to arrange a reduced payment. (Get More Info)

  Business Registration

Need help registering your new business as an LLC, corporation, or partnership registration? Keep it simple – let us help! (Get More Info)

  ITIN Application

Do you need an Individual Tax Identification Number(ITIN)? We are authorized by the IRS to assist you in obtaining one. We can help! (Get More Info)

  Accounting and Bookkeeping

If you’re not a bookkeeper or accountant, spending time on this task is decreasing your profits! Our services can help your business grow! (Get More Info)

  Payroll Processing

Payroll is a hassle and a huge time drain for small businesses. Let us help with all aspects of your payroll processing (Get More Info)

  Notary Services

When you need notary services, we’re your trusted partner. We provide fast service for your notary needs. (Get More Info)

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Streamline your filing process and avoid the risk of process glitches. We can help you.

Contact Information
KF Tax & Accounting, P.C.

1970 Rawhide Drive, Suite 204
Round Rock, Texas 78681

Tel:  512-244-1516
Fax: 512-244-1567

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How Reporting Tax Credit Changes Now Could Save You Big in April

Posted by kftaxaccounting2014 on November 24, 2014 in Uncategorized | 0 comment

If your household has gone through changes over the past year, you may be in for a surprise when tax time comes.

Did you purchase healthcare through the Marketplace and receive advance payment of a tax credit to pay your premiums? Then I’m talking to you!

When you received your tax credit to pay your premiums, it was based on the information you provided about your family and living situation. If those circumstances have changed, you could either be receiving too much of a credit in advance – meaning you’ll have to pay it back (or receive a smaller refund) when you file your taxes. On the other hand, if your circumstances have changed such that you are eligible for a larger tax credit up front, you can only receive it if you report the qualifying life event changes.

Some of the changes that need to be reported to the Marketplace include things like a change in your income, a change in your tax filing status prompted by marriage or divorce, change in your household size such as the birth or adoption of a child, whether or not you got a new job with health insurance, losing eligibility for healthcare coverage provided elsewhere, and so forth.

The above list isn’t a total list of qualifying changes, so if you even suspect your situation has changed, you’ll want to check out this link for more information.

Of course you can also contact your friendly local tax prep professionals. We’d be more than happy to help you review your situation and see if you need to report changes to the Marketplace.

For answers to this and other tax related questions, let us answer your questions and put your mind at ease.

Director, Tax and Accounting
Tax Accountant specialized in Tax Accounting, IRS Representation & Resolution of Complex Tax Matters, Individual and Corporate Tax planning, and Tax Advisory Services.

Specialties: Tax Resolution, Tax Planning, Financial Planning and Analysis, Budget Management, Payroll Management, Cost Management and Optimization, SAP, Oracle, Hyperion, PeopleSoft

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