We're here to serve you!
Serving New York Mills, Perham, Wadena, Deer Creek, Henning, Wadena, Parkers Prairie, Butler, Sebeka, and more!
- Tax preparation for:
- Sole proprietors
- Estates, trusts, gift
- Nonprofit tax returns
- Tax planning and tax problems:
- Non-filed returns
- Back taxes owed
- Payroll tax problems
- We help you communicate with the IRS over any problems that arise.
- Accounting and bookkeeping services for small business:
- QuickBooks setup and consulting
- Manual bookkeeping assistance (hand out materials and spreadsheets)
- Sales tax reporting
- Business consulting:
- New business formation
- Expansion planning
- Cash flow management
- Succession planning
- Internal controls
- Payroll services:
- Process payroll
- Federal and State tax reporting quarterly, monthly and yearly.
- Year end reporting W-2s
- Independent contractors (1099-Misc Forms)
- Personal financial planning and estate planning.
- Sorry but we do not do any auditing.
Overview for 2015 Taxes
On December 18, 2015 the President signed into law the PATH Act of 2015 and made the provisions retroactive to the beginning of the year and it made some provisions permanent. Most of the laws that had expired at the end of 2014 have been renewed for 2015. Capital gain rates remain at 15% and 0% and for those in the new top bracket of 39.6% the rate is 20% (over $400,000 taxable income). There are two new surtaxes in effect .9%on earned income and 3.8% on unearned income for single folks above $200,000 and $250,000 for married filing jointly.
Effective for 2016 partnership returns will need to be filed March 15th like S corporations this will happen in 2017. C corporations will have a due date of April 15th like the form 1040s.
Employees who claim unreimbursed job expenses mileage, meals, tools, etc. should have a letter from your employer documenting that the employer does not reimburse these expenses or your deduction can be disallowed per the IRS.→ Read more about what's new in 2015
Mark McFarlane, CPA is a small accounting firm located just south of Highway 10 in New York Mills Minnesota. The firm primarily serves clients in Minnesota but have many clients scattered across the United States.
Mark McFarlane is a CPA licensed in Minnesota and North Dakota. He started his accounting career in 1993 as a financial manager for a large business in Fargo and purchased his firm in 2005. He was raised in West Central Minnesota working in the family grocery store and owned his own grocery store for nine years. As a result he has a very good understanding of retail business.
Judy McFarlane, office manager, and her husband, Mark, enjoy fishing and camping and spending time with their children and grandchildren.→ Learn more about us