December 2018 Newsletter
Oh no! The new tax laws will affect my 2018 tax return and I don’t know if I will owe.
The new tax packages are out now. If you do your own returns, I suggest that you download a free copy (if you don’t want to purchase it) and put the numbers in to see if you owe or not. Robin can review it for you. If you don’t do your own returns or want a review anyway, call Robin at 713-774-4467 so she can help you.
Why You Never Should File by 4/15th
I don’t care if you are hungry for a refund. Find another source. Stay away from national and local tax-only practices. Stay away from refund advantage. The companies that offer it are trying to get new business from people who are desperate for their refund. Over many years, when I look at returns prepared by these companies, I find the following:
a) the returns are ‘audits waiting to happen’
b) the phony deductions are so obvious, I have to laugh. P.S. I do a free 5 minute tax return review to show people how the return will cause an audit! This is unique to me. I have yet to meet anyone who knows the items I look for. This is not the free return look offered by the tax prep companies just to get you in the door. Don’t be confused. Your tax preparer, even if they have a great reputation, will not know these audit risks. I learned them from many years of audit representation and discussions with IRS auditors.
c) many items are on the wrong lines
d) necessary form questions are not answered.
What is the best, cheapest way to stay current on tax related and financial information for the lay person?
For $38 (current price) you can get a one year subscription to the Kiplinger Newsletter. It’s one of the publications we use to be alerted when there are new changes.