Now that your W-2’s and 1099’s have all been sent if you are a business or if you are an individual you have received your W-2 and 1099’s, please make an appointment to see your tax accountant. I know that the actual filing of your tax return isn’t for another couple of months, but only so many returns can be prepared the week before April 15th so beat the rush.! If you are a business take time now to reconcile your Balance Sheet accounts, backup your accounting software , and gather the list of information your accountant needs. If you are an individual take time this weekend to locate the organizer sent to you by your accountant and the file you have kept all year marked “Tax Info” . Then when your appointment rolls around you are all ready.
You might be pleasantly surprised and get a refund. If you e-file and have your refund automatically deposited into your checking account you will have the money in approximately 10 days. If instead of a refund you end up owing, you have 2 months to figure out how you are going to pay the tax liability. You can still e-file a return with a balance due and have the IRS debit your checking account on April 15th and avoid the stress of trying to find a Post Office open late on April 15th.
Don’t have a tax accountant? Give me a call. I would love to sit down and talk to you about what Spangler, Magnuson & Signorelli CPAs can do for you.