2017 Tax Guide

It is in the mail to current clients.  Our updated list of overlooked tax deductions has grown to 72.  Our updated fee listing.  Answers to frequently asked questions. Tax information check list.



And you can have a copy by clicking on this link.

You know they are coming.

Dear Valued Client,

 

You know they're coming: A bunch of envelopes stamped with that uninspiring phrase, "IMPORTANT TAX DOCUMENT ENCLOSED" including one from your tax guys.

 

It is that time again.  Our annual accounting to Uncle Sam otherwise known as filing your tax return.  On Monday, January 23, 2017, IRS will begin accepting 2016 tax returns. That’s good news for taxpayers expecting a refund.There is even good news for those who owe money this year...an extended due date for taxes, read below.

 

We encourage you to file early. Please double check to make sure you have all your information before dropping it by our office.

 

Three things to remember why hiring a tax professional is a smart thing to do.

 

1. Peace of Mind

Even people with very straightforward taxes can benefit from using a tax preparer. Even if a mistake doesn’t trigger an audit from the IRS, inaccuracies in tax returns can cost money. A mistake could be a math error in favor of the IRS or failure to include a deduction. Tax experts such as enrolled agents with significant experience handling returns are less likely to make cost errors in returns. Another advantage of relying on professional tax preparation is that they are allowed by the IRS to represent a taxpayer in person in the event of an audit. Making sure that the expert who prepared your return will be by your side in the event of an audit is quite reassuring for many taxpayers.

 

2. Unconventional Income

The more complicated your taxes, the more appealing professional help may be. Freelancing, owning your own business, working side gigs or managing a rental property can make your taxes trickier than someone who simply receives a W-2 from his or her employer. An unexpected windfall can complicate things, too.

 

3. Major Life Events

Getting married (or divorced), having a baby, moving to a different state — these are all things that can significantly change the way you approach your taxes. Some people experience multiple life events in the same tax year, making a tax preparer's help potentially more valuable.

When it comes down to it, you need to weigh the cost of getting help versus the cost of making mistakes. There's also a time cost: Having someone else do the hard work might be worth the money if DIY tax prep would be too stressful or time consuming.

Adapted from credit.com January 8, 2016, “Should I pay for a tax preparer?”

Remember what  Dorothy Parker said,  "We hate doing our taxes, but we love having done our taxes."

Good news for taxpayers and tax preparers the 2017 filing deadline extended

You'll get a few extra days to file your 2016 income tax return.  April 15, 2017 is a Saturday this year. The District of Columbia will be observing Emancipation Day, a legal holiday in Washington D.C., on Monday, April 17, 2017. That moves the filing deadline for 2016 federal income tax returns to Tuesday, April 18.

 

We are here to help.  It has been said before but we really do make filing your taxes, dare I say it, less taxing. We solve the most complicated tax issues affordably.  

 

We are passionate about being your trusted adviser and consider it a privilege to work for you.  This year we have already upgraded our internal systems to help you with next year’s filing season.  We have invested in new tax preparation software, implemented a new pay when you receive your refund program,  and completed more than 24 hours of continuing education to keep up to date with the latest tax law changes.

2017 tax season is up and going.

2017 marks our 36th tax season.

Our longevity is primarily based on one thing...you, our client. Thanks again, especially for your referrals.

• If we prepared your tax return last year, we offer a personal tax organizer that allows you to enter information for this year, comparing the amount of the deductions and income from last year. Some clients love the organizer. Some don’t use it. We continue to offer the personal organizer to all clients at no charge, but ask that you call or email us to re- quest your copy. We will get one off to you right away.

• For various reasons the due date of your tax return this year has been extended until April 18, 2017. Good news for fellow procrastinators.

• It has been a relatively calm year in our imaginary income tax world.  Not many changes to pass on. Our "What's New" page in our 2017 Tax Guide is pretty slim.  Probably the most significant change is the delay in refunds for taxpayers who are eligible to receive refunds that include the earned income credit and/or the refundable child credit. This delay can be a hardship to some clients.  We are working with our bank partners to provide you with a loan of up to $1,200, which will be repaid once the IRS releases your refund. More information on our "What's New" page on our 2017 Tax Guide. 

•  Filing a tax return is one of the more complicated financial tasks you have to handle each year. And because of the complex codes, room for interpretation, and different rules for various situations, it can be a stressful and challenging process. We are here to help. We value your trust and consider it a privilege to work for you. This year we have already upgraded our internal systems to help you with this year’s filing season. We have invested in tax preparation software with increased security of your valued, offer a pay when you receive your refund program, and completed more than 22 hours of continuing education, including attending the IRS Nationwide Tax Forum in Chicago last year, to keep up to date with the latest tax law changes. 

Again we value your continued business and look forward to visiting with you again. 



Click here to read our online version of our 2017 Tax Guide.