Happy New Year, Friends! I hope you all had a spectacular holiday season.

There was a lot going on in the month of December as far as taxes were concerned. I don't know about you but I was just about done with all that nonsense. The problem is, that nonsense is going to affect the majority of American taxpayers from 2018 through 2025.  Thankfully, a resolution was reached but it remains to be seen how much the average taxpayer will actually save in taxes. And because Congress took its sweet time the IRS now needs a moment to catch up with the new laws. What this means for us is we have wait until the IRS is ready to accept the forms, therefore delaying the start of tax season. As of today there is no "open" date for the IRS to begin accepting returns.

Here a few other things to remember:

• Taxpayers with Child Tax Credit and/or Earned Income Credit will have to wait until after 2/15 for the refunds to be issued.
• Business that have W2 employees or issue 1099s must have those submitted by 1/31.
• You have until 4/16/18 to make an IRA contribution for 2017 tax year.
• MOST of the tax changes signed into law last month go into effect for 2018. There are a few exceptions.
• And here is a great article on Tax Preparers you should avoid.
  

Here's hoping you all receive a large tax refund this year!

Your Mobile Tax Pro,
Liz

Yep, the end of the year is upon us. Happy Thanksgiving and Merry Christmas, I hope you have a wonderful holiday season! But before it gets into full swing lets talk about a few last minute tax move you need to make by 12/31.

Making checklists of the tax documents you will need (and should be receiving in January) will go a long way to making preparing your taxes less stressful. If you're not sure what you're going to need you should email your preparer and ask. Trust me, they'd rather get that email now than one day before your scheduled appointment. Plus most preparers have a list on standby they can quickly email out.

Sometimes we don't remember that we've had some changes in our lives that may affect our taxes. One way to double check is to look through the previous year's tax return. Page 1 of Form 1040 has lots of good information that will help you to remember any potential changes to your tax situation. 

Consider using your holiday bonus as part of your contributions. You have until the tax due date to fully fund your IRA, so if you don't have enough by 12/31, just keep contributing until April 15th.

All donations MUST be made by 12/31. Remember to keep receipts from Goodwill, Salvation Army etc. and it is always best to write a check or use your debit card when donating cash. At least this way you'll have a record of the donation if you don't receive your end of year letter from your preferred organization.
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​Happy (upcoming) Holidays!!
Liz
Your Mobile Tax Pro