As you review the events of the past year, you might learn about deductions you did not know were available. You can read about several by going to our blog. Several changes to the tax laws were made by Congress over the last year. We have studied them, and we are ready to put them to good use for you this tax filing season.
Keep Good Records
More than ever, the IRS is asking for documentation to back up deductions in such areas as business mileage, charitable deductions, and gambling losses, among others. When you have legitimate deductions, you should not be scared of claiming them. Just make sure you have the documentation to back them up if the IRS should ask, and keep those records with your copy of your return after it is filed. We can help you make sure you have the proper records to support your deductions.
Happy New Year!
The beginning of the New Year can be a fresh start, and a reason to look ahead with renewed hope that 2010 will bring better fortunes than 2009. We wish this for you.
It is also a time to look back at the year just finished and take stock, which is what we are doing for you and our other clients.
By now, you should have received your forms W-2, 1098, 1099, year-end statements, and other documents for 2009. We have mailed a tax organizer to many of you. You will find it handy for organizing your documents and making sure you have everything together for us to prepare your return. As you check off the items in the questionnaire and the following pages, you may be reminded of an event last year that may have tax consequences. Or you may think of a question you had been meaning to ask us. Feel free to make notes and mark up your organizer - it is your tool to help us do a better job for you.
We are looking forward to catching up with you this winter and spring as we help you with your accounting and tax work. If your friends and colleagues ask about accountants or tax preparation services, we would appreciate your referral.
