Click here to read the article by Business Management Daily
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.
Please take notice of our office closing date. Our office will be closing at 6:00pm on Friday, April 15th and will not reopen until Wednesday, April 20th, 2016.
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.
Here is a link to Form 4868:
Form 4868
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.
If you meet designated income limits, you can contribute $2,000 annually to a Coverdell Education Savings Account. Although contributions are not deductible, all earnings and withdrawals are tax-free, providing that you use the money for qualified education expenses, including those for kindergarten through high school. In addition, you can fund your Coverdell Account with a wide variety of investments.
Along side a 529 College Savings plan, a Coverdell Account can play a big part in your college funding strategy. Safety of principal and consistency of return are key considerations. It’s also important to have an easy to manage program that keeps your money working all the time.
How much you invest depends on your resources and resolve. By starting early and diversifying properly, you can achieve your goals.
If you should have any questions, please don’t hesitate to give us a call.
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.
Click here to read a great article published in the ‘Business Management Daily’
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.
Click here to read a great article published in the ‘Bottom Line”
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.
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 18th!
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.
It is never a good idea to file a tax return late. The IRS and the State of North Carolina will assess penalties on returns filed past the due date. If you simply run out of time, or don’t yet have all the needed information, it is perfectly fine to file for an extension.
For business owners, corporations are reminded that the due date for Forms 1120 and 1120S is March 15, 2016. Returns for individuals, trusts and partnerships are due April 18, 2016.
All business owners only have until September 15, 2016 to file returns that were placed on extension. Individual tax returns placed on extension still have until October 15, 2016 to timely file.
As always, give us a call with any questions or concerns you may have.
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.
Article from Lumina News on restoring medical deductions for 2015
Click Here to read the article
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.
A great article from Business Management Daily on Roth Conversions
Click Here to read the article
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.
A great article from Business Management Daily on Social Security strategies.
Click Here to read the article
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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