2017 Tax Planning

//2017 Tax Planning

2017 Tax Planning

Dear Clients:

Once again the tax-filing season has arrived. The following steps (and our tax organizer) will ensure that your returns will be completed in an accurate and efficient manner.

  • SAVE ALL YEAR END TAX INFORMATION STATEMENTS that are pertinent to completing your return (i.e. interest, real estate taxes, brokerage statements, etc.) Provide us with original W-2s and 1099 Forms so that we can verify the income and withholding amounts and make appropriate attachments to your tax returns.
  • VERIFY THE ACCURACY OF W-2s AND 1099 FORMS sent by payers. Verify the accuracy of your name, wage and withholding amounts, and social security number. If there are any discrepancies, notify the payer immediately and request a corrected copy.
  • TAX PREPARATION FEE. We will require that your fee for our services be paid upon completion and discussion of your taxes with you. We will require payment before your return is delivered or before your return is e-filed and upon the execution of the signed e-file authorization form. Payment by credit card is recommended to expedite this process.
  • AFFORDABLE CARE ACT. If you have health insurance through the Marketplace, we may require additional information concerning coverage including policy number, time period covered, and individuals covered. You may receive Form 1095-A from the Marketplace. Also, Forms 1095-B and 1095-C will be provided by employers or insurers providing coverage for you and your family. Please be aware of these changes so that this information is available to us.
  • UPLOAD INFORMATION. Beginning this year we are using an application to facilitate uploading tax documents. You are not required to use the upload portal but we have found it makes the process more efficient and you save on postage. If you would like an invite to be able to take a photo and upload your files please email us at tstevens@bac-cpa.com
  • Please note you can upload, mail in or drop off your documentation to us, instead of meeting personally. We suggest using either Certified Return Receipt Mail or a guaranteed service such as FedEx, or UPS. Please ensure you use our address, 39 State Route 12, 3rd Floor, Flemington, NJ 08822. For your protection, please retain a copy of your documentation. We will then contact you upon the completion of a draft return or to resolve any issues via telephone and if necessary, set up an appointment at that time. Your final return will be provided to you by email.

As always, income tax returns will be prepared on a first come, first served basis. We suggest that you supply us with your information as soon as possible. We must receive your information before March 23, 2018, in order to complete your tax return by April 17th. Due to continued cost increases and required compliance regulations, we anticipate there will be fee increases this year.

You can visit our website at www.bac-cpa.com for more information and directions to our office. We are an authorized e-file provider with the IRS and regional states. We are required to e-file your return by federal and state regulations. Charges for this service are included with our tax preparation fee.

All property tax reimbursement returns are mailed to you separately and it is your responsibility to complete these forms on a timely basis. Please let us know if you have any questions concerning the type and qualifications for property tax programs available from the State of New Jersey.

We greatly appreciate your cooperation and we are looking forward to servicing your personal income tax needs in the years ahead. If you have any questions, please feel free to contact us at your convenience.

Best Wishes for the New Year.

FREE DOWNLOAD

Get our 2017 Tax Organizer, a great tool to aid you in getting your tax information organized.

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By |2018-02-02T15:49:57+00:00February 2nd, 2018|blog|0 Comments

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