Cindy Hockenberry
Cindy Hockenberry
abreast accurate affect assist average aware bills changes claiming constantly credits filing last laws likely major passed position returns six stays tax taxpayers
Tax laws are constantly changing. There have been six major tax bills passed in the last two years alone. Average taxpayers are not likely to be aware of all the changes that may affect their tax return. A tax professional stays abreast of these changes, and, as a result, is in a better position to assist taxpayers with filing accurate returns and claiming all the deductions and credits to which they are entitled.
affected bet entities gets line messed might people qualify willing
I'd be willing to bet this is going to be the No. 1 line on the whole 1040 that gets messed up. There are a lot of partnerships and pass-through entities that qualify ... there are more people affected by this line than you might think.
calculated divide equal five form money parts pay received reduced tax taxes
Because of the way this form used to work, it calculated the tax as if you had received the money over a five-year period. You would divide it into five equal parts and pay taxes on each of those parts which significantly reduced your tax bill.
appears fall irs letter minimum nice people says subject tax trap until
More and more people are going to fall into the alternative minimum tax trap unbeknownst to them until they get the nice letter from the IRS that says it appears you are subject to AMT.
good
When you really think about it, when you give up your U.S. citizenship, you give up a lot. It's not as good as it sounds.
defined definitive guidelines irs trader whether
It all comes down to whether you're defined as a trader or an investor. There's so much misinformation out there on the distinction, because the IRS hasn't really issued definitive guidelines on it.
early employees last minute people plan realize reason start until wait
People often wait until the last minute to get this done and realize they can't do it this year. Another reason they should plan early is so they can notify their employees so they can start deferring their money.
giving money sam sweet throughout uncle year
That's the sweet spot. Then you know you had your money all throughout the year and weren't giving Uncle Sam an interest-free loan.
catch good harder june later review sit tax time until wait
June is a good time to sit down with your tax practitioner and review things to date. If you wait until later it is going to be harder to catch up.
dangerous money spend time
I think it's dangerous any time you spend money before it's in your hand. You never know what's going to happen.
anyone needs worry year
For this year there's not a lot than anyone needs to worry about.
area asking background behind open people stand start suggest
I would suggest people start out by asking how long they've been in business, what their background is, and do they have a degree, which isn't required. Have they been in the area for a long time? Are they open all year? Do they stand behind their work?
asking competent guy next start until
You don't know who's more competent than the next guy until you start asking questions.
almost assumes irs miss reason
The IRS typically assumes you didn't itemize for one reason or another. They almost never notify you if you miss deductions but they will tell you if you miss income.