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)

  Cost Reporting

Are you a care provider who needs to prepare report costs? Don’t sweat it, we’ll help you prepare your cost reports! (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

Email: enquiries@kftaxandfinancials.com
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Blog

Key Facts when Tax Payers File Late and Pay Late Penalties

Posted by kftaxaccounting2014 on April 20, 2017 in Uncategorized | 0 comment

The deadline for people to file their taxes and pay any tax they owe was on the 18th Of April this year. If taxpayers are due a refund, there is no penalty if they file a late tax return. Taxpayers … Read More

Taxes are Due April 18th…Need More Time to File? File Form 4868.

Posted by kftaxaccounting2014 on April 18, 2017 in Uncategorized | 0 comment

Taxpayers who are not ready to file by the deadline should request an extension of time to file. An extension gives the taxpayer until Oct. 16 to file but does not extend the time to pay. Penalties and interest will be charged … Read More

Five Tax Tips on Making Estimated Tax Payments

Posted by kftaxaccounting2014 on April 8, 2017 in Uncategorized | 0 comment

  Taxpayers usually will have taxes withheld from their pay if they are an employee. However, if a person doesn’t have taxes withheld, or they don’t have enough tax withheld, they may need to make estimated tax payments. Taxpayers that … Read More

Fast Answers as April 18 Deadline Nears

Posted by kftaxaccounting2014 on April 8, 2017 in Uncategorized | 0 comment

With the tax deadline fast approaching, the Internal Revenue Service today reminded taxpayers that they can use IRS.gov to find fast answers to tax questions, use free online tools and find key tax forms and publications.   With millions of … Read More

Use the “Where’s My Refund?” Tool

Posted by kftaxaccounting2014 on February 22, 2017 in Uncategorized | 0 comment

Taxpayers who have not yet received their income tax refunds can use “Where’s My Refund?” app to check the status. Find it on IRS.gov or the free IRS mobile app IRS2Go. Here are five tips to know about “Where’s My Refund?”: … Read More

Five Things to Know About the Child Tax Credit

Posted by kftaxaccounting2014 on February 8, 2017 in Uncategorized | 0 comment

The Child Tax Credit is a tax credit that may save taxpayers up to $1,000 for each eligible qualifying child. Taxpayers should make sure they qualify before they claim it. Here are five facts from the IRS on the Child … Read More

Tips to remember when choosing the right tax preparer

Posted by kftaxaccounting2014 on February 1, 2017 in Uncategorized | 0 comment

As a tax payer, choosing the right tax preparer is pretty vital. Remember that the tax payer is legally responsible for the details on the tax form, so if you are not the one preparing it, here are a few … Read More

Top 5 Reasons to E-file

Posted by kftaxaccounting2014 on January 22, 2017 in Uncategorized | 0 comment

Tax season is here again and electronic–filing makes filing easy and simple. As if filing is not tedious enough, going the old fashioned way makes it even harder and frustrating.Having to mail paper form to the IRS, having doubt about … Read More

Job search expenses may be deductible

Posted by kftaxaccounting2014 on September 21, 2015 in Uncategorized | 0 comment

Even though the last job report shows the economy is getting better and unemployment rate is dropping, there are still some individuals out of jobs. Are you searching for a job and incurring some expenses?you may be able to deduct … Read More

Tax effects on divorce or separation

Posted by kftaxaccounting2014 on August 26, 2015 in Divorce or separation and health care | 0 comment

Even though income tax may be the last thing on your mind during or after divorce or separation, you should be aware of its effects on your taxes. The first thing you should know is about child support, either you … Read More

Maximizing tax refund from you or your child’s cost of schooling

Posted by kftaxaccounting2014 on August 11, 2015 in Uncategorized | 0 comment

As we prepare for the Fall semester, with  students returning back to school, you should know that some of the cost you spend on school fees and some other educational activities could be claimed as tax credits during tax season! … Read More

Earning income from hobbies

Posted by kftaxaccounting2014 on July 25, 2015 in Uncategorized | 0 comment

Do you know there are some hobbies that could earn you income? A lot of us participate in different hobbies for fun, it could be coin collection, horse breeding, stamping to name a few, but what we do not know … Read More

Children and dependent care tax credit not to overlook this summer

Posted by kftaxaccounting2014 on June 23, 2015 in Uncategorized | 4 comments

A lot of activities are common during the summer months, Are you a parent or someone that takes care of a dependent or you know someone that is? This will help you to know there are some tax credit you … Read More

Knowing when to report cash transactions in businesses to the IRS

Posted by kftaxaccounting2014 on May 28, 2015 in Uncategorized | 4 comments

Are you a business owner that receives $10,000 or more on cash transactions?If you answer yes or you know someone that does, then this is for you. The IRS has made it compulsory for United State Territory business owner that … Read More

Affordable Care Act shared responsibility provisions

Posted by kftaxaccounting2014 on May 18, 2015 in Uncategorized | 0 comment

Are you an employer with fewer than 50  full-time employees or full-time equivalent employees?Then you will need to find out how the Affordable Care Act affects(ACA) you! The first step is to know how to calculate your work force; If you … Read More

Federal Tax Help for Business Owners

Posted by kftaxaccounting2014 on May 11, 2015 in Uncategorized | 5 comments

Are you a business owner that needs federal tax help? If you are a small business owner,you should know the IRS always have you in mind,IRS wants you to thrive and excel.There are some programs and awareness set aside for … Read More

Plan ahead for next year’s taxes!

Posted by kftaxaccounting2014 on April 24, 2015 in Uncategorized | 5 comments

Are you one of those that feels once the tax season is over no more discussion about taxes? We all want to avoid tax surprises and this can only be achieved if we start planning our next year tax return now.To … Read More

Do you know there is still time to contribute to the Individual retirement arrangement(IRA) for 2014

Posted by kftaxaccounting2014 on April 23, 2015 in Uncategorized | 1 comment

Is saving for retirement so hard that you feel it cannot be achieved?The individual retirement arrangement(IRA) is designed by the IRS to enable self employed people and employee save for retirement. There are two types of IRA which is the … Read More

Things to know if you need to file a tax extension

Posted by kftaxaccounting2014 on April 13, 2015 in Uncategorized | 16 comments

Do you need more time to file your tax return?The IRS has made some provision for you,Here are things you need to know about the tax filing extension. You have to apply for an extension by using Form 4868 (Application … Read More

Do you know you could qualify for the adoption tax benefit for year 2014?

Posted by kftaxaccounting2014 on April 2, 2015 in Reducing Taxes | 2 comments

Did you adopt or tried to adopt in year 2014? If so, you may qualify for tax credits. Depending on how you funded the adoption process, either through your employer or other sources, some of your income can be excluded … Read More

We care and appreciate the military and their family

Posted by kftaxaccounting2014 on March 19, 2015 in Uncategorized | 5 comments

Do you know that there are provisions for military and their family members on filing their tax return? the IRS offers free tax help  for them. Either you are on base or off base the Volunteer Income Tax Assistance program(VITA) … Read More

Capital gains and losses

Posted by kftaxaccounting2014 on March 10, 2015 in Reducing Taxes | 5 comments

Every individual that own properties either for personal use or as an investment is subjected to capital loss or gain. Having this at the back of your mind is really important because it helps you deal with the tax consequences … Read More

Choosing the right filing status

Posted by kftaxaccounting2014 on March 5, 2015 in Uncategorized | 3 comments

There are lots of factors that determine your status when it comes to filing your tax return.Are you single or married?or are you married  and filing separately or jointly?so many questions that needs to be answered……being single not only means … Read More

Tax scams to avoid for the 2016 filing season

Posted by kftaxaccounting2014 on February 23, 2015 in Uncategorized | 3 comments

Could it be desperation that makes people go into fraudulent acts when it comes to filing of taxes and a lot more?The IRS is really big on this issues,identity theft, phishing……and all forms of scam.The IRS are aggressively pursuing individuals … Read More

How to lower your taxable income

Posted by kftaxaccounting2014 on February 16, 2015 in Reducing Taxes | 0 comment

Ever wondered how your exemptions and dependents affect your tax return each year? If it has ever crossed your mind then this is for you;Your exemption determines how much tax you owe each year and since its almost everyone that … Read More

The effects of the affordable care act on your tax return

Posted by kftaxaccounting2014 on February 9, 2015 in Uncategorized | 0 comment

Yes! the affordable care act  popularly known as Obama care  is going to affect your tax return for year 2014.Either you purchased your coverage through the market place or with IRS,Obama care is causing some changes to your tax return. … Read More

How to choose the right tax preparer

Posted by kftaxaccounting2014 on February 2, 2015 in Uncategorized | 14 comments

What happens if you get stuck with a tax preparer that is incompetent and not qualified according to the IRS standards?Remember you are legally responsible for all the details on your tax return even if you are not the one … Read More

Tax Planning Tips for 2015: How to Maximize Your Retirement Savings

Posted by kftaxaccounting2014 on December 19, 2014 in Uncategorized | 4 comments

Nothing says Happy New Year like trying to make sense of upcoming tax law changes, right? Still, the start of every new year is a great time to take a look at your financial situation and make sure you’re progressing … Read More

5 Little Known Factors that Could Affect Your 2015 Income Tax Bill

Posted by kftaxaccounting2014 on December 1, 2014 in Uncategorized | 0 comment

It’s hard to believe, but 2015 is rapidly coming to a close! Besides holiday parties and lots of good food, it also means that tax time is right around the corner. Are you going to end up with a nasty … Read More

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 … Read More

The Surprisingly Easy Way to Reduce Your Income Tax (Hint – it’s not what you think!)

Posted by kftaxaccounting2014 on November 18, 2014 in Health Care, Reducing Taxes | 0 comment

When it comes to paying income taxes, less is more, right? You want to pay your fair share, but you often wonder if you’ve overlooked credits or deductions that you’re entitled to take. One you’ll want to consider if you … Read More

Medical Expenses Aren’t Covered by Your Health Insurance?

Posted by kftaxaccounting2014 on November 11, 2014 in Health Care | 0 comment

What happens when you have medical expenses that aren’t covered by your health insurance? If they reach 10% or more of your adjusted gross income (AGI), you can claim deductions for them! This change took effect in 2013 (which you … Read More

Who Else Needs Help Paying for Health Insurance Premiums?

Posted by kftaxaccounting2014 on November 4, 2014 in Uncategorized | 0 comment

This year certainly brought much change to the issues of income tax and health insurance, but it also brought something else that tax payers need to understand clearly. Tax credits. Specifically, if you get your health insurance through the Marketplace, … Read More

Obamacare and Your Income Tax: How the Affordable Care Act Impacts You

Posted by kftaxaccounting2014 on October 17, 2014 in Uncategorized | 1 comment

It’s been a contentious subject for sure, but the health care law commonly referred to as Obamacare includes provisions you need to know and understand, especially as 2014 draws to a close and next year’s tax filing season is on … Read More

Requested a Tax Extension? October 15 Is Your Deadline to File!

Posted by kftaxaccounting2014 on October 8, 2014 in Uncategorized | 0 comment

Warning: If You Requested a Filing Extension, It’s Time to File Your Tax Return! Were you one of the people who requested a 6 month extension to file your taxes this year? If so, your time is nearly up! It’s … Read More

IRS Tax Tips

Posted by kftaxaccounting2014 on February 12, 2014 in Uncategorized | 0 comment

IRS Tax Tips Useful Links: IRS.gov Home 1040 Central Help For Hurricane Victims Issue Number: IRS Tax Tip 2014-10 Inside This Issue News Essentials What’s Hot News Releases IRS – The Basics IRS Guidance Media Contacts Facts & Figures Problem … Read More

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