Tax and Money Tip this Week: Don’t Wait on Your 1099 or K-1
February 20, 2019 | No. 422
In our CPA practice, we find that many clients want to hold all of their tax information until they have received that final Form 1099 or K-1. Yikes! Don’t do that! Some brokerage firms don’t deliver 1099s until as late as March 8th, or amend the original 1099s frequently until March 31st.
We want you to provide us, or your CPA, with all available tax return information as soon as you have it pulled together. Don’t wait until you receive that last form!
This year it is especially important to get your tax information to us, or your CPA, as soon as possible. By getting your information to your CPA by early March, you will have your return in the front of queue and through the tax season hourglass well before the stress of April 15th!
Questions or Comments?
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Tax and Money Tip this Week: TCJA Tax Reform Sticks It to Business Start-Ups that lose money
January 16, 2019 | No. 417
The Tax Cuts and Jobs Act tax reform added an amazing limit on larger business losses that can attack you where it hurts—right in your cash flow. And it works in some unusual ways that can tax you even when you have no real income for the year. When you know how this ugly new rule works, you have some planning opportunities to dodge the problem.