11th Hour Tax Filing Changes for 2016: Are You Affected?

{2:05 minutes to read} Two important and recent changes may impact your 2016 tax-filing process.

11th Hour Tax Filing Changes for 2016: Are You Affected? by Susan Moussi

Health Coverage Status

The President’s Executive Order on January 20th, 2017, directed federal agencies, including the IRS, to begin implementing plans for a full repeal of the Affordable Care Act (ACA). As of this past February, health coverage status is no longer required to be reported on the individual tax return for the 2016 tax year.

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6 Ways to Save Money Next Tax Season

6 Ways to Save Money Next Tax Season by Susan Moussi

{4:30 minutes to read} Having just completed the 2015 tax filing season, I have been reflecting on some of the situations that caused me and my team to spend more time on preparing tax returns this year. The cost of tax preparation is based on the amount of time needed to prepare the return, so identifying places where changes can be made throughout the year can help save my clients money next year.

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Don’t Wait Until April! 8 Reasons to File Taxes Early

Don’t Wait Until April! 8 Reasons to File Taxes Early By Susan Moussi

{3:05 minutes to read} Do you file your taxes as soon as your documents arrive in the mail, or sometime in April? It’s open season right now. Here are eight reasons why, when it comes to filing taxes, sooner is better than later.

1. FAFSA Forms

This time of year, if you’re a parent of a college student, you may be filling out the Free Application for Student Aid (FAFSA). This form requires your tax information from the prior year. While you can provide an estimate only, it’s usually better to have the actual information.

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Business Filing Deadlines for the 2014 Tax Year

Business Filing Deadlines for the 2014 Tax Year By Susan Moussi{3:30 minutes to read} At the beginning of every year, most businesses find themselves in a rush to complete all of the necessary tax documents within the allotted time set forth by the government(s). They are busy reconciling all of their accounts in order to provide their tax preparer with the information that is necessary in order to file their income tax returns – which may be due as early as March 15th in some circumstances.

Of utmost importance is the issuance of two important earnings-related documents: The W-2 and the 1099.   Continue reading