Thursday, March 7, 2013

Some More Tax Tips From Miss SmartyPants

I thought that since she has been kind enough to share her tax tips with us for free that you might want to see my sister's picture.  That is her on the left and I could not find a picture where she had her eyes open but you get the idea of what a pretty lady she is.  And the little beauty in the middle is my daughter-in-law, Miss PeggyRae.  Of course, Miss MoneyPenny on the right, and we are enjoying lunch at the Silver City Brewery in Silverdale, my fave restaurant down there.

Heads up!!  My sis will be starting her own blog after tax season!!  She intends to cover raising three grandkids, aged 7 to 11, while kayaking, backpacking, gardening, cooking, and, oh, yeah, running a tax accounting business.  I haven't run across a blog that deals with that particular situation, so her ideas and stories will be helpful for other grannies in her position.  When she launches, I will post the link.  Can't wait!!

She posted this information in the comments section and I want to make sure that everybody sees it, so here it is:

Tax tips:

The best way to get your money's worth (and more) from your accountant is to visit with them during the year when they aren't so crazed with IRS deadlines. They have more time to discuss and research your questions. Sure, you may have to pay for an appointment (depending on your questions and research involved and amount of time involved), but it will be worth your time and money. Also, if you are looking for a new accountant, the best time to meet with them for the first time is NOT during tax season. Meet with them months before the end of the year so they can review the prior year's returns and make any suggestions. Also, gives you time to gather documents they may need. I had to turn down a new client the other day because I just did not have the time to review his prior years and discuss his business.

Don't be frustrated by the late 1099 documents you are receiving from the brokerages. They get their information out to you as soon as they are able. They have to wait on information sent to them before they can compile and send to you. Accountants are aware of these timelines and we work around them. Also, we are aware of which accounts will probably receive amended 1099s and are waiting for these before we finish the return for the client.

Cruise Fund Update:

The old fund took a hit yesterday when I forked over $135 for my passport.  I hated to take it out of there but I just don't have that kind of money laying around with nothing to do.

Old Balance              =      $742.47

                                  +           7.14 (Amazon sale)

                                  +           7.20 (Ebates)

                                  -         135.00 (Passport)

New Balance            =       $621.81


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