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.