Sooooo tax filing season is over if you didn’t go on extension, right? While this is true, don’t wait until the last minute to get ready for next year (it will be on you before you know it.) Planning for next year’s return now will make things a lot easier when your documents come and you are going crazy. See this tip from the IRS regarding planning for next year: http://content.govdelivery.com/accounts/USIRS/bulletins/b2bc55?reqfrom=share A very important part of this plan is to let your preparer know in advance of any changes in your life (marriage, a new kid, your parents moved in with you and you are supporting them) so any needed planning can be done before the end of the year, when changes can be made to save taxes. That is why I never charge for telephone calls or email – I want my clients to let me know about this stuff in this year, not in January when everything has been locked down and no planning can be done. For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Android and the IPhone: Has been Featured [...]
Tax Musings of a Burbank CPA: Tips for Taxpayers Who Missed the Tax Deadline
If you didn’t file by April 15, don’t panic! The IRS is not going to take you away to prison. Here are some tips from them about what to do if you didn’t file or get an extension to file: http://content.govdelivery.com/accounts/USIRS/bulletins/b16d5e?reqfrom=share If you are getting a refund, there will be no late filing penalty. If you owe, there may be penalties, so get it done and paid as soon as you can. The IRS has free options for filing a simple return with low income, or you can prepare with TurboTax or use a preparer to get things finished. For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa
Musings of a CPA in Burbank: Ten Facts about Amended Tax Returns
The IRS has put together a group of tips on filing amended income tax returns. You can see these at the following link: http://content.govdelivery.com/accounts/USIRS/bulletins/af2b51?reqfrom=share One of the most important items is the first item – you have to paper file amended tax returns (no efiling!), so it is going to take a while for these returns to be processed. You are going to need to be a little patient, so don’t check the IRS website every day to see how it is coming along. Give it some time. For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa