Smooth Tax Preparation

 The 2013 tax season is almost here and we want you to give you a few tips to making the process as smooth as possible:

  • Designate a separate filing area for all of your tax documents. This can be an expandable folder that you add to as they documents come in or even better an electronic file that all your documents are scanned to for easy and secure delivery to us.
  • Start tracking down your deductions. We hope you have been keeping track all year, but ensure that you have receipts for charitable contributions (cash and noncash) as well as real and personal property tax bills that you have paid throughout the year. Deductions for mortgage interest and investment management fees will be located on tax forms so do not worry about those.
  • Watch the mail for W-2s and 1099s that will start arriving after year end. Employers and investment companies have until January 31st for these to be filed. Keep in mind that in order to claim the child care credit for paying an individual you must file 1099-MISC forms for any person you pay over $600.  There forms are due January 31st.
  • Review last year’s tax return to make sure you have all your documents and track down those that are missing. Note that companies you work for and investment management firms will not release tax documents to your CPA unless you have given specific consent that they are allowed to do so. Asking for them in advance saves times in the tax preparation process.
  • Contact us earlier rather than later to reserve your appointment to ensure your taxes are completed efficiently and on time. Come to your tax meeting prepared with your information and questions.

We look forward to seeing everyone after the Holidays!