Taxes

Extended Tax Return Reminders

If the filing of your business or personal tax return was extended for 2013 and we have not yet received your information, please provide it to us as soon as possible so we can prepare and file the returns on time. The following are the upcoming due dates for extended returns:


  • Form 1065 (Partnership): Due 9/15
  • Form 1120 (Corporation): Due 9/15
  • Form 1120S (S-Corporation): Due 9/15
  • Form 1040 (Personal): Due  10/15

Tax Planning

We are now into the second half of the year, and while it is still summer, the weeks are getting ever closer to the next tax season. August and September are great months to start thinking about planning for filing your 2014 tax returns.

 If we have not done so already, our firm can look at your year-to-date business activity, personal income, and withholdings and prepare a tax projection to determine what, if any, taxes you may owe and provide strategies to minimize your tax liability.

Below are some potential tax planning strategies which you may want to consider while there is still plenty of time left in the year.  Call your CPA to determine the advantage of these and other strategies before making any decisions.

  • Possibly converting your traditional IRA to a Roth
  • Enrolling in or increasing the amount contributed to your retirement account
  • Donating to your favorite charity or non-profit
  • Making business purchases that would reduce your tax burden

 

What To Do If You Get a Tax Notice

Now that the bulk of all tax returns have been filed and processed, federal and state tax departments are issuing notices on returns for which information is missing or amounts are calculated incorrectly. 

If you get a notice from any federal or state agency,  do not ignore it.—it’s important that you reply by the date specified. We can help you respond to most notices quickly and easily. Just call our office or email us for assistance.