Welcome Rebekah Littleton, MAcc


I began my working career in retail and eventually found myself as a cake decorator for roughly 5 years. Finally, with the support of a very close friend, I decided to go to college. This helped fulfill a dream I never thought was possible. I graduated from the University of Washington with a Bachelors in Business Administration with an emphasis in accounting in 2018. Shortly after, in 2020, I graduated with a Masters of Accountancy.   I have worked in public accounting since 2019, during which I worked with a variety of business owners; doctors, contractors, retailers, manufacturers, veterinarians, and real [...]

Welcome Rebekah Littleton, MAcc2022-08-02T13:02:10+00:00

IRS has updated the business mileage deduction for 2022


In recognition of recent gasoline price increases, the IRS made a special declaration (IRS Announcement 2022-13):  For the final 6 months of 2022, the standard mileage rate for business travel will be 62.5 cents per mile, up 4 cents from the rate at the beginning of the year. For business vehicles, using mileage at the IRS rate is an option in lieu of tracking actual costs like payments, gasoline, depreciation, and maintenance.  Killingsworth Spencer’s CPAs work these numbers with each client each year and generally see mileage as the better and easier-to-track deduction, but we may see a swing to actual [...]

IRS has updated the business mileage deduction for 20222022-07-11T15:22:31+00:00

Roswell Arts Fund


I want to put a big SHOUT OUT to the Roswell Arts Fund. Killingsworth Spencer CPAs is now a sponsor, and we want to get the word out about the Beaucoup Jazz & Blues Festival on Saturday, July 31st. For more information, click the link to the festival page - Festival - Roswell Arts Fund. We hope to see you enjoying Roswell this Summer! Make it a Great Week

Roswell Arts Fund2021-07-06T14:26:24+00:00

Important Tax Reminder


You have likely heard by now that the IRS has moved the 2020 individual tax filing deadline from April 15th, 2021, to Monday May 17th, 2021. The state of Georgia has yet to announce if it will conform to the new federal tax filing deadline; however, we expect that announcement at any time. If you pay quarterly estimates, the 1st quarterly installment for 2021 is still due on April 15th, 2021. There remains the possibility that the IRS may also extend this filing deadline to May 17th, but for now, plan to pay that 1st estimate by April 15th.   Stay [...]

Important Tax Reminder2021-03-18T19:20:14+00:00

Are you planning to purchase a new vehicle soon?


A frequent mistake made by many business owners is with their auto expenses and tax deductions. The most common deduction method is the Mileage Method, and the deduction for 2020 is 57.5 cents per business-use mile. This deduction INCLUDES the costs for fuel and oil, maintenance, tires, car washes, and insurance. It is still a good idea to keep an eye on these expenses, but your tax preparer will not need them to calculate your tax deduction. You should keep accurate records as to how you use your vehicle in your business. Often times, we see where a taxpayer will “double [...]

Are you planning to purchase a new vehicle soon?2020-12-21T16:59:46+00:00

“Helping Clients Understand the Choices that Matter” new trademark


Hello again, Lynn Spencer here. I am taking this opportunity to announce that Killingsworth Spencer in Roswell has a new registered trademark with the United States Patent & Trademark Office that ties nicely to what we do, “Helping Clients Understand the Choices that Matter.” ™  This is the cornerstone of what we do each and every day at Killingsworth Spencer, and we are proud that we can forever tie this phrase to our firm. Of course, we prepare tax returns while also providing tax planning, bookkeeping, payroll, and business consulting. We also go to bat for our clients with the IRS [...]

“Helping Clients Understand the Choices that Matter” new trademark2020-10-22T20:47:12+00:00

Automatic Extension to FILE taxes


Hello everyone. Last year I did a podcast about using an automatic extension if you are not ready to file your returns by the April 15th deadline. Because of the Covid pandemic, this year's due date is July 15th. Other than substituting July 15th for April 15th for 2020, the balance of the information remains relevant. Lynn Spencer Watch it here https://www.youtube.com/watch?v=JpuVqjZx850&list=PLZHe19A1Qzz8eKpNivxgcoHt7UsaL1KuS&index=4&t=1s HAVE A GREAT WEEK

Automatic Extension to FILE taxes2020-07-13T01:58:11+00:00

How GA Film Tax Credits Work


Hello there, Andrea Altman with Killingsworth Spencer here. Today I want to let you all know about how the Georgia Film Tax Credits work, and how they can save many GA residents on their state income taxes. Many people are unaware of just how big a deal the GA film industry is and how it benefits every citizen. GA currently ranks 3rd behind California and New York in the total number of film and television projects produced. Over 92,000 Georgians are employed by the film industry with over $4.6B in direct wages, and an estimated economic impact of $9.5B (these are [...]

How GA Film Tax Credits Work2020-07-10T23:31:53+00:00

GA Film Tax Credits available for 2019 tax year


Hello everyone, We wanted to pass along some important information to you if still owe GA income taxes for 2019. Two updates as we approach July 15th:   We currently have over 60 mil Georgia film credits that can be used for 2019 returns and extensions. We can close on credit transactions as long as a wire is received on or before Tuesday, July 14th.   2. Disney has asked us to place these remaining credits, so they are very competitively priced:   20th Century Fox Productions 2017 tax year credits 190,000 available (prefer to place with 1 or 2 buyers, [...]

GA Film Tax Credits available for 2019 tax year2020-07-10T22:51:06+00:00
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