NORTHSIDE TAX SERVICE

Your Dedicated Expert in Tax preparation, Tax Resolution, Bookkeeping, Payroll Services, & Bill-Pay Financial Services

COVID -19 Home Testing Are Medical Expenses

Amounts paid for COVID-19 home testing are medical expenses, IRS says. Ditto for the cost of personal protective equipment, such as face mask, hand sanitizers and wipes. Itemizers can deduct medical expenses on Schedule A only to the extent total medical costs exceed...

Investing IRAs In Collectibles

IRAs can not invest in collectibles: Art, antiques, gems, stamps, coins, etc. However, they can hold high-grade bullion... gold, silver, platinum or palladium that meets quality standards set by regulators. The IRA trustee must hold the assets . IRAs can also own gold...

Business Vehicle Tax Breaks

There are a lot of tax breaks for buyers of business vehicles under the tax laws. The annual depreciation caps for passengers autos rise a bit 2021. If bonus depreciation is claimed, the first-year ceiling is $18,200 for new and used cars first put into service this...

2021 Form 1040

The 2021 form 1040 will look very much like the 2020 form. There are only minor changes to the two-page form, based on a draft of the form. Schedules 1,2 and 3 are much longer because they will list specifics for other types of income, adjustments, credits, etc. For...

Qualified Charitable Distributions (QCD)

I just made a qualified charitable distribution from my traditional IRA. Will the 2021 Form 1099-R reflect the QCD? NO. People age 70 1/2 and older can transfer up to $100,000 yearly from traditional IRAs directly to charity. These QCDs can count as part of the...

Inherited IRAs I inherited an IRA from my aunt last year. When must I take distributions? *You have 10 years to from the date of death to clean out the account. This does not mean that payouts must be distributed evenly over 10-years. You can wait until year 10 to...

RMDs are back!

RMDs are back after being halted last year. Individuals 72 and older MUST take annual RMDs from traditional IRAs or pay a 50% penalty. For 2021, you start with your IRA balances as of December 31,2020, and use the IRA Pub. 590-B to come up with the amount required to...

About Shawn Wesley

OWNER-OPERATOR

Shawn Wesley took over operations of Northside Tax Service in October of 2004.

Shawn helps clients with a wide variety of services. He offers income tax preparation and planning services. He also offers small business bookkeeping and payroll services. In addition to these, he also offers help with IRS audits and dispute resolution. He is an active member of American Society of Tax Problem Solvers (ASTPS).

Prior to taking over Northside Tax Service, Shawn worked several years in the manufacturing field. He did everything from production floor operations to project and manufacturing engineering. He also has an extensive background in real estate and finance.

Shawn Wesley is an Enrolled Agent, enrolled to represent taxpayers before the Internal Revenue Service. He is an active member of the Florida Society of Enrolled Agents. He also holds a series 2-15 insurance license in the State of Florida. He is licensed to help clients with their insurance and investment needs.

 

WORD OF MOUTH

Northside Tax Service, Inc. had our tax return done very quickly! Not only are they fast, but they are friendly! Excellent service!

Kendall Spear

Shawn is FANTASTIC! We have sought his services for the last few years and found a real PRO. He’s our tax service for life! Thank’s Shawn!

Don Cone

This is the most wonderful team ever! Easy to work with, super nice and just made our complicated situation so much more navigable! You won’t find a better service. A+++
Greylynne Gilbert