2021 Season Annual Information

24th Jan

We look forward to seeing you for the 2021 filing season! At the end of this post is attached our postcard for our annual mailer. They should start being delivered January 24, but if you didn’t get one or would like one, you can click the link below.

COVID protocol: We kindly request that you do not enter our office if you have not been vaccinated against COVID-19. This is for our safety (primarily for my grandmother, who is still working!), and the safety of other clients. If you are not vaccinated, we will come outside to get your information, you may leave it at the door, or you may use our client portal system for contactless preparation of your taxes. For the beginning of the season, while transmission of the disease is still high, we will likely ask you to wear a mask in the office. We will re-evaluate this request and make adjustments as necessary.

For those of you who received an advanced payment of the child tax credit. You will receive a letter from the IRS detailing the amounts paid to you. If you are married filing joint, you will receive two letters. One for you and your spouse. Be sure to keep these letters, we will need this information to file your return. If you lose or do not have these letters and you give us the wrong amounts, it will cause a delay in processing your return and could change the amount of your refund or amount owed.

Likewise, you should receive a letter detailing the amount of economic stimulus payment you received in early 2021. This is the $1,400/person payment. If you don’t receive the letter, we need to know exactly how much you received. Go through your bank statements or other records if you need to determine the amount. Giving us an incorrect amount will delay the processing of your return.

2020 Filing Season Mailer

11th Jan

Take a look at our mailing for the 2020 filing season! Current clients should receive theirs by the end of the week. Click Download to see!

Client Portal

4th Jan

This year we are offering our clients the opportunity to sign up for our Client Portal. This service allows our clients the opportunity to have their returns completed remotely (by scanning and sending their information through the portal, signing, and paying). Also, if you are missing any information or we have questions, we can send files and messages through the portal to complete your return. Need copies of previous returns or documents? We can send those through the portal also.

To sign up, we will need your email address and you will receive an invitation to complete registration.

You may also send files to us without an account. Click here to go to the portal, and then click “Upload Files to us” under Guest Exchange.

Coronavirus Aid Information

4th Jan

Economic Impact Payments (direct stimulus payments):
To complete your tax return, we will need to know to total amount you received in stimulus payments in both 2020 and the most recent payments sent in December 2020/January 2021. If you did not receive your payment, you may reconcile that on your 2020 income tax return. If you provide incorrect information regarding your EIP, your refund may be altered or you may receive a bill. It is our understanding if you received more EIP than you were entitled, you will not have to pay it back.

PPP Loans:
PPP loans that have been forgiven are not taxable and deductions are allowed for otherwise deductible expenses paid with the proceeds of a PPP loan. Basically, if your loan has been forgiven, it’s free money.

Distributions from IRA:
-RMD has been suspended for 2020, so there is no penalty if you did not receive your RMD.
-If you took an early distribution from your retirement plan due to a direct impact of COVID-19, the 10% penalty is waived.
-You may divide the income of distributions over three years and pay income tax accordingly if you were diagnosed with COVID-19 or were otherwise directly impacted by the virus. This is not automatic, and if you choose this election, we will ask you to sign a form indicating you were impacted.

EIC/Child Tax Credit:
You may use your income amounts from 2019 or 2020 in the calculation of EIC or CTC, whichever is greater benefit to you.

Family First Coronavirus Response Act:
For owners of businesses that were impacted by COVID-19 by having to quarantine, shut down due to government order, or had to stay home due to a childcare shutdown, please talk with us about your recovery options.

Deferral of Payroll Tax:
Self-Employed individuals may defer 1/2 of their SE Tax due, with half payable by December 31, 2021, and the remainder by December 31, 2022.

Our Office and COVID-19

4th Jan

Our office is open during COVID-19, but we would like to share the following information with our clients:

  • We do have a contactless option to complete your return through our client portal. See our Client Portal page for more information.
  • We encourage our clients to consider dropping off their returns and we will call you when they are ready instead of in-person appointments.
  • We ask that our clients call before coming to the office so we know to expect you.
  • Masks are required to enter our office. If you are unable to comply, please wait outside and we will come out to help you.
  • If someone is in the office when you arrive, please wait outside the door and we will come to help you.
  • Please do not enter our office if you are sick or have been exposed to anyone who has had COVID-19.