M & D Accounting

01/23/2020

If you would of told me 12 years ago that I would start a tax service business and to this day, enjoy helping those in need of tax advice and business services, I would of told you you were crazy. What is best is that I still enjoy what I’m doing and have met great people, have seen business grow tenfold, seen others unfortunately close, but along the way we have always embraced the problem solving of the clients needs.

I’m excited to announce that I will be joining the ATAX franchise network. The evolution from M&D accounting will provide me with better tools to embrace today’s business environment.

We are now ATAX Highlands, CO and here to continue serving those who know me and those future clients in need of Tax and Advisory Services. ATAX is known for providing Tax Accounting and advisory services with over Thirty years of experience.

I thank my Better half Vanessa, my boys Landon and Tristan for their patience when dealing with my craziness. I love you.

I thank my family for always having my back: Emanuel, Maria, Tony, Hector, Salvador and Graciela.

And for Hugo, Arthur, Rafael, John for seeing the potential in me to make this partnership work.
I would like to invite you all this Sunday for our Grand Opening celebration from 12pm-4pm. Tacos and taxes stop by say hello and schedule a time to come in. Hope to see you there.

01/14/2020

Congress let many tax provisions expire on December 31, 2017, making them dead for your already- filed 2018 tax returns.

In what has become much too common practice, Congress resurrected the dead provisions retroactively to January 1, 2018. That’s good news. The bad news is that we have to amend your tax returns to make this work for you.

And you can relax when filing your 2019 and 2020 tax returns, because lawmakers extended the “extender” tax laws for both years. Thus, no worries until 2021—and even longer for a few extenders that received special treatment.

Back from the Dead

The big five tax breaks that most likely impact your Form 1040 are as follows:

Exclusion from income for cancellation of acquisition debt on your principal residence (up to $2 million)
Deduction for mortgage insurance premiums as residence interest
7.5 percent floor to deduct medical expenses (instead of 10 percent)
Above-the-line tuition and fees deduction
Nonbusiness energy property credit for energy-efficient improvements to your residence

Congress extended these five tax breaks retroactively to January 1, 2018. They now expire on December 31, 2020, so you’re good for both 2019 and 2020.

Other Provisions Revived

Congress also extended the following tax breaks retroactively to January 1, 2018, and they now expire on December 31, 2020 (unless otherwise noted):

Black lung disability trust fund tax
Indian employment credit
Railroad track maintenance credit (December 31, 2022)
Mine rescue team training credit
Certain racehorses as three-year depreciable property
Seven-year recovery period for motorsports entertainment complexes
Accelerated depreciation for business property on Indian reservations
Expensing rules for certain film, television, and theater productions
Empowerment zone tax incentives
American Samoa economic development credit
Biodiesel and renewable diesel credit (December 31, 2022)
Second-generation biofuel producer credit
Qualified fuel-cell motor vehicles
Alternative fuel-refueling property credit
Two-wheeled plug-in electric vehicle credit (December 31, 2021)
Credit for electricity produced from specific renewable resources
Production credit for Indian coal facilities
Energy-efficient homes credit
Special depreciation allowance for second-generation biofuel plant property
Energy-efficient commercial buildings deduction

Temporary Provisions Extended

Congress originally scheduled these provisions to end in 2019 and now extended them through 2020:

New markets tax credit
Paid family and medical leave credit
Work opportunity credit
Beer, wine, and distilled spirits reductions in certain excise taxes
Look-through rule for certain controlled foreign corporations
Health insurance coverage credit

If you have questions about the extenders, please call me on my direct line at 720-381-1306.


Enrique Medina CPA
M & D Accounting Services Inc.
2930 W 38th Avenue
Denver, CO 80211
720-381-1306
fax 720-362-5036

12/26/2019

The deadline to send forms 1099-MISC for payments made in 2019 is JANUARY 31, 2020.

The penalty for not filling on time is $270 per 1099 form.

If you need assistance or would simply like to discuss 1099s please give us a call at
☎️ (720) 381-1306.

12/18/2019

Best wishes for the holiday season and many, many thanks for a wonderful year! From us at M & D Accounting.
Felices Fiestas! 🎁🎄

09/19/2019

08/27/2019

Hi everyone, as a friendly reminder all ITINs with middle digits of, 83, 84, 85, 86, or 87 (Example: ###-84-###X) will expire at the end of this year (2019). If you need to renew please contact us and we can assist you. Renewing your ITIN now will help you file your taxes on time next year. To make an appointment please call: (720) 381-1306.

Hola a todos, como un recordatorio los ITIN con dígitos medios de 83, 84, 85, 86 y 87 (Ejemplo: ###-84-###X) caducarán a fines de este año (2019). Si necesita renovar, contáctenos y podemos ayudarlo. Renovar su ITIN ahora lo ayudará a presentar sus impuestos a tiempo el próximo año. Para hacer una cita, llame al: (720) 381-1306

08/01/2019

Did you know there are about 1.2 million tax preparers in the nation but only 750k have PTINs. Let that sink in.

Last day of 2019 Tax Fest! It’s been a great experience. 👏👏👏

07/31/2019

Vegas heat is something else!
Getting our second day started at the 2019 Tax Fest.

Here’s a photo of the M&D team yesterday meeting Vendors to ensure we have the best software for our clients.

07/30/2019

01/15/2019

Due to the government shutdown IRS has acknowledged that refunds won’t be sent until after Feb 15th. Ask how you can get a fast cash advance today and have it paid when you refund comes in.
720-381-1306

01/15/2019

Official start date for IRS accepting returns is January 28th. M&D Accounting Can begin filing your return today.
Options available:
Pay nothing in office have your fees deducted from refund.
730-381-1306