TMTW #430 – Thank You Clients! Another Successful Tax Season!

Tax and Money Tip of the Week:
Thank You Clients!
Another Successful Tax Season!

April 17, 2019 | No. 430

Aaah…..the week after tax season is the best week in a CPA’s life each year!

We met a lot of new clients this year because of referrals from existing clients, and readers of our Tax and Money Tip of the Week. Thank you!

Our firm continues solid growth thanks to all of you.
A referral is the best compliment we can ever receive.

Even though our tax season is over, we will continue our Tax and Money Tip of the Week for the rest of the year. We will keep you updated on the constant tax law changes as well as spotlighting specific tax and money making ideas.

Again, thank you for making this one of the most successful tax seasons yet.

Questions or Comments?
You can add comments on the blog, call 919-847-2981, or visit our web site. We look forward to hearing from you.

Mark Vitek, CPA/PFS, CFP®
…until next week

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TMTW #429 – It is “OK” to File an Extension

Tax and Money Tip this Week:
It is “OK” to File an Extension
April 10, 2019 | No. 429

Please take notice of our office closing date. Our office
will be closing at 6:00pm on Friday, April 12th and
will not reopen until Wednesday, April 17th, 2019.

If you haven’t filed your tax return by now, you should probably consider filing for an extension.

To file for an extension, you simply need to submit Form 4868.  Submitting this form will give you until October 15th of that year to file your returns. However, an extension of the time to file is not an extension of the time to pay.  If you think you will owe taxes, you must send a payment along with the extension.  This applies for your federal
and state tax returns.

Questions or Comments?
You can add comments on the blog, call 919-847-2981, or visit our web site.
We look forward to hearing from you.

Mark Vitek, CPA/PFS, CFP®
…until next week.

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TMTW #428 – Do you have Unclaimed Cash with The State of NC?

Tax and Money Tip this Week:
Do you have Unclaimed Cash with The State of NC?
April 3, 2019 | No. 428

If you have unclaimed cash, banks sometimes will not call you. If you have moved and the bank can not locate you they will turn the money over to the State of NC.

To see if you have money to claim, go to www.nccash.com or call the NC Department of State Treasurer’s office at 1-800-582-0615.
The claim may take 3 months to process.

Questions or Comments?
You can add comments on the blog, call 919-847-2981, or visit
our web site. We look forward to hearing from you.

Mark Vitek, CPA/PFS, CFP®
…until next week.

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TMTW #427 – It is “OK” to File an Extension

Tax and Money Tip this Week:
It is “OK” to File an Extension
March 27, 2019 | No. 427

Please take notice of our office closing date. Our office
will be closing at 6:00pm on Friday, April 12th and
will not reopen until Wednesday, April 17th, 2019.

If you haven’t filed your tax return by now, you should probably consider filing for an extension.

To file for an extension, you simply need to submit Form 4868.  Submitting this form will give you until October 15th of that year to file your returns. However, an extension of the time to file is not an extension of the time to pay.  If you think you will owe taxes, you must send a payment along with the extension.  This applies for your federal
and state tax returns.

Questions or Comments?
You can add comments on the blog, call 919-847-2981, or visit our web site.
We look forward to hearing from you.

Mark Vitek, CPA/PFS, CFP®
…until next week.

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TMTW #426 – Employee Recreation and Parties Survive TCJA Tax Reform

Tax and Money Tip this Week:
Employee Recreation and Parties
Survive TCJA Tax Reform

March 20, 2019 | No. 426

When you know the rules, you can party with your employees and deduct 100 percent of the cost. Interestingly, if you feed your employees during a training program, your deduction is only 50 percent. Make sure you know the rules that give you the 100 percent deduction for employee entertainment.

The IRS says that the following types of entertainment qualify for the 100 percent employee entertainment tax deduction:

  • Holiday parties, annual picnics, and summer outings
  • Maintaining a swimming pool, baseball diamond, bowling alley, or golf course

The IRS makes it clear that the above are examples and that other types of entertainment may also qualify for the 100 percent entertainment deduction. The tax code states that “expenses for recreational, social, or similar activities (including facilities therefor) primarily for the benefit of employees” qualify for the 100 percent deduction.

Questions or Comments?
You can add comments on the blog, call 919-847-2981, or visit our web site. We look forward to hearing from you.

Mark Vitek, CPA/PFS, CFP®
…until next week.

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TMTW #425 – April 15th Deadline is approaching!

Tax and Money Tip this Week:
April 15th Deadline is approaching!
March 13, 2019 | No. 425

In order for us to get all client’s tax returns completed by April 15th in a quality fashion, we request all clients drop off or mail us all  of their information by March 17, 2019. Otherwise, we will do our best, but we cannot guarantee completion of tax returns without extending the returns to October 15, 2019.
Thank you for your help!

Questions or Comments?
You can add comments on the blog, call 919-847-2981, or visit our web site. We look forward to hearing from you.
Mark Vitek, CPA/PFS, CFP®
…until next week.

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TMTW #424 – April 15th Deadline

Tax and Money Tip this Week:
April 15th Deadline
March 7, 2019 | No. 424

In order for us to get all client’s tax returns completed by April 15th in a quality fashion, we request all clients drop off or mail us all of their information by March 17, 2019. Otherwise, we will do our best, but we cannot guarantee completion of tax returns without extending the returns to October 15, 2019.
Thank you for your help!
You can add comments on the blog, call 919-847-2981, or visit our web site. We look forward to hearing from you. Questions or Comments?
Mark Vitek, CPA/PFS, CFP®
…until next week.

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