The IRS will begin accepting 2016 Returns and processing Paper Ones on January 23,2017. The Closer you are to the front of the line, the safer your refund will be. So What Do you Need to Do?
*Start collecting your Tax information- Your W-2s, Mortgage Interest Statements and 1099s as soon as it begins arriving in the Mail.
* Pull Together Receipts and Other Information on your itemized deductions as soon as possible.
* Once you have everything you need, Schedule Time with your Accountant, Bookkeeper, Enrolled Agent or Tax Preparer.
Wow, The Countdown is on; 2 More Days to the New Year
2017, Have you been working on your Challenge? If you're hoping on reducing
your Tax Bill for the Tax Season, You still have the opportunity to do so,
before it is too late.
Here We Go:
Pay Your Mortgage and Local/State Taxes Now
When you prepay your Mortgage, State, Local and Property Taxes that are due in January at this time, You are reducing your 2016 Federal Income Tax Bill.
These Payments can be deducted as part of your itemized deductions on your 2016 Tax Return and would reduce your Bottom Line Tax Bill.
Are you taking up the Challenge towards reducing your Tax Bill for Next Year Taxes? We're now on Day 2 Challenge towards helping you achieve this Goal .Be Sure to implement and Keep Checking back for more information.
CLUE 2: Accelerate
If you plan to itemize
your deductions, you are better off accelerating your deductible expenditures
into this Year to produce a higher write-off.
The Year 2016 is fast coming to an end; As we Close out the Year, We would like to thank all our Clients, Customers and Fans for your Business and Referrals. We look forward to your continued patronage in 2017; As the Year comes to a Close, So does the period for Tax Planning.
a Business Owner, Be sure to Draw a Big Red Circle around the date January
31, 2017, on your Calendar; This is the new Due Date for filing Forms W-2 with
the Tax Authorities.
In an effort to combat Fraud, The Protecting Americans from Tax Hikes (PATH)
Act of 2015 was passed by Congress and signed last December. With this New Act, Employers and Small
Businesses have January 31st Filing Deadline to submit Forms W-2 and W-3 to the
Social Security Administration (Whether you file using Paper Forms or