Helpful Preparation Guides:
Quick Snapshot of Recent Tax Law Changes
Other Misc. Changes:
* List not exhaustive, subject to IRS revision/further clarification
** Misc. Itemized Deductions, formerly deductible to the extent they exceeded 2% AGI, include investment advisory fees, tax prep, unreimbursed employee expenses
Frequently Asked Questions
How can I expedite my tax refund?
Hands down, e-file + direct deposit = fastest refund. Make sure to provide me with a voided check.
How long should I save records?
The IRS can audit a tax return for up to three years after the filing date, or due date of a return (whichever is later). Save supporting documentation for tax returns for that time period. Documents of security purchases should be saved for three years after the sale date. Beware: a six-year statute of limitations applies to substantial understatement of income (25% of income).
What's the best way to avoid interest and penalties?
Avoid interest and penalties due to underpayment of tax by paying estimated quarterly tax payments. Make payments to IRS here. Make sure to select tax year and form. Email me to get help with calculating payments.