Resources

After owning my own CPA firm for over 25 years, I know what it means when someone asks me, “Are you ready for tax season?”  To a CPA it means something completely different; longer hours, computer programs with bugs, last minute tax law changes and the general added stress that comes with preparing 1,200 returns, 3,000 W2’s, and 2,000 1099’s in 12 weeks.  However, preparing for tax season means something entirely different to our clients. You will be surprised at how many entries you find that will in some way impact your tax return. Did you change jobs?  Did you send your daughter off to college?  Did you start a small business? Did your employer require you to own a cell phone or drive back and forth to Asheville every day? These are just some of the examples of what my clients should be thinking about right now.

When getting ready for another year of taxes, I tell all my clients to sit down for an hour or so and think. What happened last year? Most people do not keep great records. They forget about the time last February when they refinanced their house. Or they forget about the time last July that they had to take money out of a 401K to pay fall tuition for a child.