Another year has gone by and tax season has come around once again. As most of you already know, I moved my residence to Vermont. I still maintain my NJ CPA license and spend at least a few days in NJ every month on business. Since most of you utilize my services on a remote basis, through email or mail, there will be no difference. However, I am available for personal (COVID-19 safe) meetings for those that need to see me in person.
The tax filing deadline for individuals is Thursday, April 15, 2021. The deadlines for business filers are March 15, 2021 for partnerships and S-Corporations, and April 15, 2021 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 the new 1099-NEC forms to any individual, subcontractor, contractor, vendor, supplier, or landlord that was paid $600.00 (total) or more in 2020. The deadline for filing these forms was February 1, 2021. Copies and a summary form must also be filed with the IRS. Contact me if you need help or have questions.
2020 was an unusual year with a number of COVID-19 related programs and revision that may or may not affect your tax filing. 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 over 30 years’ experience at a reasonable rate. Discount tax services and self-preparation 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 charge 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 make life less taxing”
I help clients reduce taxes, increase profitability, meet reporting requirements and save valuable time. Contact me to find out how!