Tax law changes for 2018! Do you know how they affect your tax return? Do you need help navigating the changes. Stearns and Company Accounting and Tax Services is here to help you. Contact us with your questions and to schedule an appointment 610-681-8301.
Tax Advantage or Disadvantage?????
Donations, Federal Withholding, state withholding, interest income, college tuition, personal home sale, mortgage interest, real estate taxes, dividends, stock sales, rental home sale, social security, etc.
Everyone’s situation is different. Do you know how all this affects your 2018 taxes? Maybe you should contact an accountant/tax preparer to assist you.
Kandy from Stearns & Company Accounting & Tax Services
Only one week left until we reach the Merry month of December. If you have not done so please check your withholding’s using the IRS withholding calculator or contact me. Make sure you have all your donation receipts or get the rest of the donations out before 12/31/18 and get a receipt for your possible tax deduction. Any questions please contact the office.
Tax check up. Have you done this recently to see where you stand so far this year? The IRS has a one set up that you can do online or you can contact your tax preparer. Don’t wait long as there is only 6 weeks of this year!
November has arrived. Have you done a withholding check up to verify enough taxes are being withheld. There is not much time left of this year so please do this and don’t get a surprise when you complete your income taxes in 2019.
Are you ready? The end of the year is only 3 months away. Are your withholding’s correct? Do you have a donation that needs to be made? Do you have sales of stocks that may require you to make estimated tax payments? Did you withdraw your RMD as required by law? Do you have a child getting ready or already at college? if you need any assistance with any of these or other questions please contact the office to set up an appointment.
Reminder that 3rd qtr. will be ending on 9/30/18. For those making estimated tax payments those were due on 9/15/18. For payroll taxes you have until 10/31/18 to file & pay.
Even small cash donations aren’t exempt from strict record keeping rules, according to the IRS’s final regulations. For charitable monetary gifts of any size you cannot claim a deduction unless you have a cancelled check, a bank record, a credit card statement or a written receipt or email from the charity with its name, date and amount of the gift. Pay stubs or W-2’s work for payroll deduction donations. You still need an written acknowledgement from the donee for one time gifts of $250 or more.
From the IRS “IRS tells taxpayers who got a big refund to do a “paycheck checkup.”” There is a Withholding Calculator on the IRS website that can be used or contact your accountant.
Have you had a review of your tax standings at this point in the year to make sure the is enough being withheld? This is always a good idea part way thru the year but with all the tax changes this year it is a better idea to check this out now and not find out something bad in February/March when you file your returns. Give us a call for an appointment.