Exterior of Steve Oldfield and Associates CPA

Welcome to Steve Oldfield & Associates

Accounting Services in Farmington, NM

For more than 40 years, Steve Oldfield & Associates have provided financial and accounting services in Farmington, NM. We are proud to work with individuals and businesses across the Four Corners Area, assisting them with a variety of needs including:

  • Accounting services
  • Financial consultations
  • Business planning
  • Payroll
  • Tax preparation
  • and more

Our accountants and support staff have the skills and experience to help you understand and take charge of your financial future.

As a small, locally owned company, we are dedicated to providing each of our clients with personal, quality tax and financial services at reasonable prices.

FAQs

What's the status of my federal tax refund?

The Internal Revenue Services provides this tool to show the status of your federal refund at this IRS website https://www.irs.gov/wheres-my-refund

What's the status of my state refund?

You can check the status of your New Mexico state tax refund by visiting https://tap.state.nm.us/tap/
Scroll down to the Personal Income and click Where’s my Refund?

When I owe taxes will an extension prolong the due date for my payment of the taxes due?

No, any taxpayer paying 2023 income taxes owed after April 15, 2024 will be charged interest at the rate of 6% per annum and incur a failure to pay penalty of .5 percent for each month to a maximum of 25%.

Where do I report beneficial ownership information?

Small business LLC and corporate owners with business income under $5 million per year, are required to file their beneficial ownership information with the financial crimes enforcement office. This office has the authority to issue fines of $5,000. You can find details and the link to file the information online at their website https//fiportal.fincen.gov

If I sell land will I qualify for a like kind exchange?

A like kind exchange is closely scrutinized by the IRS. You will need to follow the basic rules closely. First you will need to have a third party escrow agent that will hold the sales proceeds. You have forty five days to notify the escrow agent of your plans. You have 180 days to close on a new property. Any original sales proceeds that you keep will create taxable income. If you are planning this transaction we would encourage you to contact us for further information.
For more information about our accounting firm, tax services, or for general questions, please contact us today at 505-327-5001.
Professional financial services

About Steve Oldfield & Associates

Our team of certified public accountants, accountants, and support staff are dedicated to helping you understand your financial situation and create a secure financial future for you, your family or business.

Person circling numbers on a spreadsheet

Tax & Accounting Service

For over 40 years, the team at Steve Oldfield & Associates have provided clients with up to date, personal and affordable financial & tax services including: bookkeeping, financial planning, business consulting, tax returns & more.

Tax professional during a meeting

Schedule an Appointment Today!

We are committed to providing you with personal, individualized tax & financial services. We encourage you to schedule a consultation with one of our experienced financial professionals for personal or business tax services.

Business Hours
Monday - Thursday: 8:00 AM - 5:00 PM
Friday: 8:00 AM - 4:00 PM