2019 Tax Season

2019 TAX SEASON IS HERE!  Tax time may not be fun, but it is very important.  Here are a few tips to help you get started!

For Individual

• Start collecting your Tax Documents. W-2's, 1099's, K-1's are among the most common.

• Prepare any expenditures for a deduction. Medical, Property, and sales tax, etc.

• TCJA got rid of many of the itemized deductions people used to receive.

• There is no more Health Insurance penalty however it will need to be reported.

For Businesses:

• Speak to your accountant or bookkeeper on what you need for the end of the year.

• Get your December Bank, Credit Card, and Loan statements together.

• Get your quarterly estimated tax payments together. As well as your sales tax payment together if applicable.

• Make sure all payroll and contractor forms have been filled out and filed.

• File a personal property rendition report if necessary.

• Have statements on any big purchases such as vehicles, equipment, and buildings.

• Know your due date! Depending on the type of entity you may owe taxes sooner than the standard 4/15 due date!

If you have any questions or need a CPA to help you prepare for this tax season contact me above! I have monthly and one-time service packages that you can choose from. I look forward to hearing from you!