HMA

IRS Increases Health Savings Account Limits for 2018

The IRS has just announced that the amount Taxpayers will be able to contribute to their HSA accounts in 2018 will be increased.  The contribution limit for those with self-only coverage will increase from $3,400 to $3,450.  Taxpayers with family coverage will see their contribution limit increase from $6,750 to $6,900.+    

We are Growing!

Hawkinson, Muchnick & Associates is looking for a career oriented CPA with 3 to 5 years of public CPA firm experience to join our team. HMA is a CPA firm in Douglasville, GA providing advanced accounting and tax services to closely held businesses, individuals, estates and trusts. Qualified candidates must have extensive experience with a […]

REMINDER: FORM 1099 MAY NEED TO BE FILED FOR 2014

If you have a business or rental property, you might have to prepare 1099s to send to anyone you paid at least $600 for services in 2014.  You should have sent these 1099 forms by January 31.  You will then need to file a copy of the forms with the IRS by February 28.  You […]

REMINDER: FORM 1099 MAY NEED TO BE FILED FOR 2014

If you have a business or rental property, you might have to prepare 1099s to send to anyone you paid at least $600 for services in 2014.  You should have sent these 1099 forms by January 31.  You will then need to file a copy of the forms with the IRS by February 28.  You […]

Social Security Administration Announces the 2015 Wage Base

The Social Security Administration announced that the wage base for figuring the Social Security tax will rise from $117,000 in 2014 to $118,500 in 2015.  The tax rate itself will remain unchanged at 6.2% resulting in a tax increase of $93 each for both the employee and the employer when wages reach $118,500 or more […]

Important reminder for employers reimbursing health insurance premiums

A reminder to employers: As of January 1 of this year, you may no longer reimburse employees for their individual health insurance policies or pay the premiums directly to the insurance company on a pre-tax basis. Employers that continue to pay employee’s premiums or reimburse their payment must include these amounts in the employee’s taxable […]

IRS Reminds Taxpayers About Education Credits

With schools back in session, the IRS has issued a reminder to taxpayers not to overlook available tax credits for education expenses. Tax credits are applied directly against the income tax you owe. There are two available credits: the American Opportunity Tax Credit and the Lifetime Learning Credit. The American Opportunity Tax Credit can be up to […]

October 15 is the final filing deadline

If you requested a six-month extension to file your 2013 individual income tax return, you face a major deadline on October 15. That’s the final date for filing your 2013 return; the IRS does not give additional extensions except for in very limited cases. It is important to understand that you should file your tax […]

What’s Retirement Really Like?

What do you expect to do in retirement? A recent survey conducted by US News and World Report shared some of those findings and we thought you might be interested. The final word is this: You can only be confident about what you want out of retirement if you’d planned well and accordingly. It is […]

Douglasville Accountants Merge Practices

Paul A. Hawkinson, CPA, and Dan Muchnick, CPA, CFP Merge Practices Paul A. Hawkinson, CPA, and Dan Muchnick, CPA, CFP  — two of West Georgia’s most trusted financial professionals — announced they have merged their practices to form Hawkinson, Muchnick & Associates, PC. The merger will combine two industry leaders with over 50 years of […]