OXFORD – Following over 30 years in the business of tax preparation, Oxford Tax Service’s Joseph Halsteter is set to retire once the upcoming tax season comes to a close. However, long-time Chenango County resident and current owner Theresa Lindstrand – who purchased the business in February of 2009 – is set to officially take over following this, her fifth tax season with Halsteter.
Located at 14 Lafayette Park since 2003, Oxford Tax Service offers income tax return preparation for local residents and small businesses, as well as sales tax, bookkeeping and payroll services, stated Lindstrand, a 2002 graduate of Norwich High School.
“Nothing major has changed with me taking over the business, but we are making small changes for the added convenience of our clients,” said Lindstrand. “For the new year we will be offering the option of taking our service fees directly out of client refunds for a small fee, in addition to offering the choice of direct deposit of federal refunds to a VISA or Mastercard debit card as opposed to a bank account or paper check.”
According to Lindstrand, local taxpayers should be aware that, for the upcoming tax season, certain filers will be unable to file returns before mid-to-late February, due to last-minute Congressional action to extend certain deductions which were set to expire.
“Anyone who itemizes deductions by filing a Schedule A with their 1040, as well as those claiming the Educator Expense deduction and the Higher Education Tuition and Fees Deduction in place of the Lifetime Learning Credit or American Opportunity Credit will have to wait until these forms are finalized and IRS systems are up to date,” stated Lindstrand. “The IRS is urging any affected taxpayers to e-file so as to be sure they are using the most up-to-date forms.”
In addition, taxpayers may see a potential increase in their paychecks due to a 2 percent cut in the employee share of Social Security taxes for 2011, added Lindstrand, who admitted this may be offset somewhat by the disappearance of the Making Work Pay tax credit, which was issued to taxpayers in the form of lowered withholdings for the years 2009 and 2010.
A graduate of Skidmore College in Saratoga Springs, Lindstrand majored in business management with a minor in economics and a heavy concentration in accounting-related courses.
“I realized I wanted to get into accounting and possibly tax preparation about halfway through my sophomore year,” said Lindstrand. “It was pretty late to transfer to another school with a more intensified accounting program, so I utilized a free exchange program with Siena College to take a few more advanced accounting courses that Skidmore didn’t offer at the time.”
Oxford Tax Service will be open Monday through Friday from 9 a.m. to 5 p.m. throughout the month of January. Hours will expand slightly and include Saturdays as the current tax season progresses. For more information call 843-5444.