Razorback Financial & Income Tax Services, Inc.

Razorback Financial & Income Tax Services, Inc.

Razorback Financial...getting your refund on time, again and again since 1977. Razorback Financial & Tax Services Company is a Fort Smith based tax and bookkeeping services firm.

We off our clients comprehensive bookkeeping, tax planning, payroll and retirement planning services. With over 30 years of tax and accounting experience, you can trust our friendly professionals with your business and personal financial needs.

Operating as usual

[04/21/20]   Stimulus Paper checks
Being mailed this week

[04/21/20]   Stimulus checks
Disability and social security recipients
Deposits should be to your account by
April 30th.

[04/21/20]   401K
Hardship rules for 401K expanded under Covid19. Loan access and repayment extended also.

[04/19/20]   Health Care
36 states have expanded Medicaid coverage guidelines up to 138% of the poverty level to qualify. Unemployment counts as income.

[04/19/20]   Health Care Alert
Loss of job is a qualifying life event that allows you to enroll in marketplace insurance outside of the normal enrollment period. You have 60 days from loss of employer provided insurance to do this.

[04/19/20]   HEALTH CARE ALERT
LOSS OF JOB IS A QUALIFYING EVENT THAT ALLOWS YOU TO GET COVERAGE VIA MARKETPLACE OUTSIDE OF THE NORMAL ENROLLMENT PERIOD. However you must apply within 60 days of losing your employer based insurance.

[04/15/20]   Donna, Diane, Mathew, Susie, Liz, Megan and Claire. Thank you for everything you do and did this year to make a normal tax season out of a National Disaster. You were the soldiers out front. You made each and every customer feel cared about and special. Once again, because of your loyalty and your hard work we did the amazing amid chaos. You are a team of dedicated people and our clients remind me of that continually. You make Razorback Financial not just a business or a job, but a service to others. You treat them like you want to be treated...with caring and kindnesses. You each are amazing. Love, Lynda

[04/12/20]   To grandpas and grandmas, nanas, Mimi, gram, papa,pops...hang in there. You will see your grand children before you know it. It is difficult not having family time but it will make the next gathering even more special. It’s about love not dates anyhow.
Happy Easter. He is risen.

[03/31/20]   We will be working this week on the SBA economic disaster loan applications. Please let us know if you need our help.

nytimes.com 03/26/2020

F.A.Q. on Stimulus Checks, Unemployment and the Coronavirus Bill

Below are two links that have up to date information related to relief for those impacted by the coronavirus. We are here to help! Let us know what questions you have, and if you would like assistance in applying for a small business loan. Keep an eye on our website for other important updates in the coming weeks. We will be working hard to support your financial needs through this time, and into the future.

https://www.nytimes.com/article/coronavirus-stimulus-package-questions-answers.html

https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

nytimes.com The Senate relief bill would send money to Americans and greatly expand unemployment coverage.

[03/23/20]   Covid -19 Response for our clients:

We understand that this is a frightening time for you. Family and health concerns as well as worries about carrying on your business and or your family finances are real. We are here for you.

At Razorback Financial we began implementing changes in early March and paving the way for remote office work where necessary. We are prepared to navigate our way through this storm. All of our staff will be available to you through this crisis. They can be reached on their texting phones or normal office phone extension.

In compliance with CDC and Presidential and local government advisers we are doing curbside or drop off appointments only for the short term, or until things level off. We will up our game to be in close telephone or video conversations with you. We are still working daily although our offices are not open for public access.

To our tax clients we will steadily work and complete your tax returns as promised.

All appointment times remain the same unless you contact us.

We have already reached out to several of our business accounts to help them secure financing for extra expenses or loss of income during this crisis.

In regard to the economic stimulus checks please be aware there are scams already working. Do not give out information by phone or by letter without contacting us first.

The stimulus checks are based on 2018 filing so if 2019 is your first year to file or if you did not do a 2018 we need to get 2019 filed immediately.

As always we are here for you so do not hesitate to call us. We have weathered storms before and we will again.

Stay safe and stay well,
Lynda Startzman

[03/23/20]   We are committed to getting your taxes done as promised. Please see our web page or FB page tomorrow for more information. Stay well and God bless you.

03/23/2020
images.search.yahoo.com 03/23/2020

praying hands | LOVE HANDS | Pinterest

Please pray daily and individually for your family members, your friends, those that are fighting for their lives w the virus, our healthcare workers and our government.

images.search.yahoo.com

[03/21/20]   Economic Stimulus Check Scams
Already in progress so be aware:
This from Forbes:

Once the stimulus checks start going out, the scams will really start to ramp up so remain vigilant. Also make a point to tell your friends, relatives, and anyone else you think would be susceptible to fraud.

As many of us are relying on the internet more than ever to connect with the world, also watch out for fraudulent internet links. If you’re going to request your stimulus check, make sure you only visit websites with a “.gov” domain.

[03/19/20]   Texting Phone for your convenience
479-462-4948
Thank you, Lynda

uamshealth.com 03/16/2020

HealthNow | UAMS Health

For online testing of Novel Coronavirus in AR: https://uamshealth.com/healthnow/

uamshealth.com By answering a series of questions about your symptoms, age, overall health and travel, this screening will provide you with ways to access more information if needed.

[03/15/20]   We have a large lock box on our back porch if you would like to drop any tax information off. Just email us when you do this. Thank you, Lynda Startzman

[03/14/20]   This is how we are keeping our staff safer and our clients more secure when being in our work place:

Office policy update
March 7, 2020

SUBJECT: Health Care initiative

Introduction: with the Flu epidemic still in full swing and with the recent test results testing positive for Covid-19 virus rising within the United States , I am taking extra precautions to keep our work environment safer.

We handle papers, money, identification cards, and many papers within a day originating from several states and foreign countries.

Up until now, we have been aggressively using Lysol and hand sanitizer as well as washing down surfaces within the office, and running air humidifiers.

We will continue these preventative measures, along with new temporary initiatives as follows:

Effective immediately we will be wearing throw away rubber gloves. We will change to a clean pair several times a day.

We will supply face mask for the clients in the lobby if they are coughing or just want the protection.

Please empty your own trash into the bin outside daily. Keep your work area wiped off with Lysol or other wipes at least twice per week.

If you have someone in your household with fever and coughing, please do not come into work until you are out of a contagious environment. Also. Any worker that comes into the office sick will be sent home.

If you should contact the COVID-19 virus we will pay your normal pay check for two weeks.

There will be no food cooked at home or in restaurants and served during tax season or until this dies down some. There are snacks and soup furnished in our kitchen.

Summary: with the Covid- 19 virus spreading to states surrounding AR it is just a matter of time and cases will be positive with our state. While the symptoms begin as “flu like”, the flu shot does not affect the new virus. I urge you to avoid large gatherings if at all possible and wash your hands with soap more than you normally do. Avoid touching gas pump handles and other objects without protection or sanitization.

The virus causes severe respiratory symptoms. If you are elderly and have not had a vaccine for phenomena the CDC is saying to do this.

The CDC requested our president yesterday to issue a warning that elderly people do not travel aboard airlines.

While we want to lead ordinary lives and not want fear to take over, I have to do ALL that I can do to protect people under my employment within their work setting.

I am in the process of arranging work equipment if the need arises to work from your home. If you do not have a computer at home, I need to know. The telephone extensions and the fax can be forwarded to cell phones or texting phones. We can relay tax preparer documents from clients, and also finished returns by email with password protection.

Also, please encourage clients to “text” additional information and not to drop it off at our office.

There may be an update to this as things progress with these epidemics.

I appreciate your understanding as I know that this is an inconvenience. I welcome any additional ideas.

Lynda Startzman
Razorback Financial and Income Tax Services

03/13/2020

http://www.healtharkansas.gov/

Talking with a client today that is a Health Department Supervisor for our State, I learned that the largest problem has been that the “test kits” had to be made. The second problem for our state is that we have only one “confirmation testing site” and it is in Little Rock. All test have to be sent there. The website is HealthArkansas.gov

healtharkansas.gov

[03/12/20]   I have never felt disappointed in my country until now. In regard to our leadership response to a health emergency like the Novel Coronavirus or Covid-19.
Colorado’s governor announced today pretty much the same concerns as I am hearing from other citizens. “Why are there not more testing kits available, why is the confirmation time 2 weeks or longer on the test that we have performed? Why are there not better guidelines for businesses and families in regard to this health emergency? Why are not more labs prepared, other than Quest Diagnostics and P lab?” Certainly they could have enlisted more labs for faster results by now.
We have known about the outbreak in China since early January so this makes no sense.
Please call your attorney general’s office and make these needs known. I never complain about this sort of thing, but this is escalating rapidly and will affect every family before it lets up. We are just seeing the beginning of it. We need our state governments to speak up for us.

[02/26/20]   Bogus calls from Social Security Admin.
Do NOT talk with these people. These are scammers trying to get your tax and income information. Hang up quickly and call the scam hotline and report the phone call.

[02/15/20]   TRUCK DRIVERS: please see us for meal deduction on your tax return.

[02/13/20]   More tax news that might affect you this tax season:
1. Kiddie Tax back to same rate of tax on parents’ return when unearned income exceeds $1,100.00.
2. No age limit to IRA contribution as long as you have earned income. You can also do a “catch up” contribution.
3. Required minimum distribution of retirement account, effective 12-31-19: Do not have to begin RMD until April 1st after age 72 years of age.
There are more tax changes, so please call or email with any questions!

[02/07/20]   More tax news that might affect you this tax season:
1. Electric vehicle: up to $7,500 energy credit.
2. 529 Educational Savings Plan: $10,000 can be withdrawn from each plan to be used to repay student loan debt on each student loan or student loan interest. This is a “one time” allowance.
3. 529 Educational Savings Plan: withdrawals can be used for “trade schools” such as plumbing, electric, or welding school, or any certified apprenticeship program.
4. Qualified Business Deduction: “Self-Rental” is a trade or business except with a C Corporation or a specified service business. (A real estate professional qualifies already as a trade or business.) Triple Net lease property does qualify for the QBI adjustment. (You must have regular activity with the property.)
There are more tax changes, so please call or email with any questions!

[02/04/20]   “NO CLICK POLICY”: we have adopted this policy in our office. We keep a lot of sensitive information for our clients, and work hard to protect you. When you send documents to us we can no longer open an attachment. Please text the document to one of our texting lines or fax the document, or send it “snail mail”. We have our computers monitored daily for any cyber threat, but cannot be responsible for outside devices. Our new policy is to protect our clients.
Also, should you receive an email from IRS or any government agency delete it immediately and do NOT open it. Same with medical records or banks. Cyber attacks are rampant. If you have questions we will be happy to help you. Thank you, the staff at Razorback Financial.

[02/01/20]   New tax information that might affect you this tax season:
1. Exclusion of (per residence) debt cancellation up to $2M – on acquisition debt – (do not have to be insolvent or bankrupt).
2. PMI – mortgage insurance premiums paid for acquisition are deductible again.
3. Energy credit for residential still in for solar, wind, and thermal.
4. Can contribute to HSA for tax year 2019 until 04/15/2020.
There are more tax changes, so please call or email with any questions!

[01/03/20]   Abbreviation of the year 2020.
We are cautioned not to abbreviate the year when typing or signing contracts or legal documents. If you look at this closely, it would be easily altered by adding 2 numbers after the 20. I.e. 2018, 2019, 2021 etc. in short, do not use abbreviations when entering 2020 on any document. Thanks, Lynda Startzman

11/11/2019

Party with the techs. Lots of fun, food and sharing.

[06/14/19]   Happy
Father’s
Day

06/14/2019

Welcome Auto, Inc.

05/12/2019
04/15/2019

Photos from Razorback Financial & Income Tax Services, Inc.'s post

04/15/2019

Photos from Razorback Financial & Income Tax Services, Inc.'s post

Telephone

Address


1611 S Greenwood Ave
Fort Smith, AR
72901

General information

Razorback Financial was founded in 1977 by Lynda Startzman. Under her leadership and vision coupled with an elite staff dedicated to the highest quality of financial service has enabled Razorback Financial to become the premier financial services and tax-planning firm in the River Valley and Northwest Arkansas serving clients nationwide. During thirty nine years of meeting the financial and tax needs of over 600 clients, Razorback Financial has always endeavored to adhere to the values of the Golden Rule.

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 6pm
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