Matters of the heart and tax matters normally need to be considered separately. That being said, it is good to be armed with the facts. The term ‘Marriage Penalty’ is thrown around a lot but this article breaks it down with some humor added for good measure. Taxes and humor…. who knew?
At Fox Valley Tax Solutions we get it… Why pay someone to do your taxes when you can get some cheap software and DIY?
Problem is you don’t know what you don’t know. It is rare for us to review a prior year self prepared return and not find an error. We cannot guarantee an increase in your refund but we can give you the piece of mind that your return will be done right – saving you time in both preparation and responding to IRS notices.
We’ll even throw in some expert tax planning advice for good measure.
Dependent? It Depends…
It is pretty well known that parents can take their children as dependents while they are in college. What about after college if they take a while to get started? What about parents that you support? Here is a good article on point: Who can be a dependent? As always, give us a call if you need more on this.
Tax Scams, Security, and what WE are doing about it
We have touched on this topic before but scammers are continuing to evolve. We still hate these guys.
The IRS recently finished a Security Summit. The takeaways?
• Scammers will still use aggressive and threatening phone calls but there has been a significant uptick in email Phishing and Malware
• Scammers creatively focus on new or confusing tax laws
• Scammers frequently go after elderly taxpayers
• Scammers are now targeting tax preparers
This last one is important and we take it seriously. At Fox Valley Tax Solutions we have implemented an Information Security Plan recommended by the IRS to ensure we are doing our part to safeguard Taxpayer Data. Not all tax preparers are up to speed on this!
Did we mention we hate these guys?
Source: Tax Scams/Consumer Alerts
Our Winter 2016 Tax Newsletter in now available!
Clients can expect our Newsletter to be attached to the annual year end email which will be arriving soon.
Topics this year include:
- Issues for Partnerships
- We have Tax Organizers
- Tax Changes and Year End Reminders
- Estates and Beneficiaries
- Expertise in our tax office
- Secure Portal Benefits
Click here if you want a sneak preview
If you are reading this post you have obviously found our new Tax Blog.
We will be periodically adding items that will be of interest to our clients.