Don’t worry. Let’s sit down and talk about it. I have several clients that come to me at various times of the year who have fallen behind on their tax filing. They are anxious, worried, and frustrated. The reason for late filing varies with each individual. The reason could be a divorce, health, financial, or […]
Don’t worry! Most documents have been received by clients. Except for the possible outstanding K-1s from partnerships and Sub S Corporation clients have received W-2s, 1099s, etc… Now is the time to commit and not procrastinate and contact your CPA to set up that all important meeting. I enjoying spending time with my clients going […]
Several clients ask me how they can reduce their taxable income towards the end of the year. I usually encourage them to go thru the items in their homes and find certain household goods that are in good or excellent shape and make a contribution to various charitable organizations. On several occasions the client will […]
If you have been procrastinating in making your estimated payments for 2014 fear not it is not too late. The final estimated payment for 2014 is not due until January 15, 2015. But don’t wait to get ahold of your CPA at the last minute. Take the time this month to meet with your CPA […]
Here are just a couple of tips for tax savings as we come to the end of 2014: 1. Inventory items at home that are in good condition and donate to your local charity. Several nonprofit organizations can then in turn sell those items to individuals who are interested and donate the funds to the […]
Truckers, tax payers and tax filers… IRS has announced that tax-filing extension runs out on Oct.15 2013 and advised to e-file their return on time. Well, coming back to extension, it is a way to ask IRS for more time to file your tax return. This year (2013) many tax payers have requested for an […]
When it comes to tax season, every year is a little different. Laws change, some benefits kick in while others end, and natural disasters can have an impact on your tax return. The deadline for filing your taxes is April 15, 2013. While this is the normal deadline, there are some important new things you […]
The following is a compilation of various deadlines for filing returns with the IRS and making various payments. January 15, 2013 Deadline to pay your fourth quarter estimated tax payment for the year 2012. However, you can skip this estimated payment without penalty if you file your return and pay your balance in full by January 31, […]
When all is said and done, what are the actual tax brackets and rates this year? The fiscal cliff compromise bill that passed Congress preserves Bush-era rates for taxpayers making under $400K (single filers)/$450K (joint filers) in taxable income. Last year, we predicted 2013 tax brackets under various scenarios using the IRS’s method of adjusting tax brackets […]
Everyone makes mistakes now and then. (Don’t tell the hubby that I admitted that!) When it comes to mistakes on tax returns, the Internal Revenue Service gives us a second chance, up to a point. As this week’s Weekly Tax Tip notes, sending in a corrected tax return via Form 1040X is not that difficult. The IS wants to […]
Our philosophy is to provide our clients with both personal and professional service. We offer business accounting services, tax preparation & planning, comprehensive Financial Statements, electronic filing, individual accounting services. tax planning, and individual-Corporate-Partnership Tax Compliance.
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