Another year has gone by and tax season has come around once again.
The tax filing deadline for individuals is Wednesday, April 15, 2020. The deadlines for business filers are March 16, 2020 for partnerships and S-Corporations, and April 15, 2020 for C-Corporations. Get your information in early!
As always, proper and complete documentation is vital to accurate tax return preparation. The IRS employs document matching to make sure taxpayer filings are complete and is increasing overall scrutiny of taxpayer-maintained records.
Business taxpayers, including landlords, subcontractors, and self-employed individuals, must issue 1099-MISC forms to any individual or company that were paid $600.00 or more (in total) in 2019. The deadline for filing these forms is January 31, 2020. Copies and a summary form must also be filed with the IRS. Contact me if you need help or have questions.
The new tax reform bill should make this an interesting season. Some will benefit, some will not. Every situation is unique so let me help you figure out where you stand and what to expect moving forward.
I am proud to offer the services of a full-time tax professional with 30-plus years of experience at a reasonable rate. Discount tax services and home-use software can mean missed deductions or penalty assessments that can cost you many times the amount saved on preparation. Many larger CPA firms give you assembly-line service or outrageous fees. My clients get top-tier, personal service at a reasonable rate.
I look forward to serving you again this year. Thank you.
Leigh J Kremer, CPA
I help clients reduce taxes, increase profitability, meet reporting requirements and save valuable time. Contact me to find out how!