Doing Taxes in a Cool Work Environment

Whether you like it or not, the months from March to April are the busiest times for us Tax Preparers. Even after the 15th of April we can’t help but stay pretty busy for our customers who pay us to do daily book-keeping and hundreds and hundreds of Payroll.  It’s quite a relaxing moment unlike the busy tax season months; however, it’s also kind of busy enough to make that short staycation really short.  If you are a true Bookkeeper, you will definitely be looking forward to a sweet day at the beach knowing that the busy season is only 8 months away.

During a busy tax season, as Tax people, we constantly have to deal with never ending tax returns and scheduling partnerships or S Corporations to start an individual return on a daily basis. This kind of task usually leaves us Tax Preparers in a tight spot because we will have to wait for the partnership’s return due date until the 15th of April is the same with the individual return’s due date so that it would match. By altering the due dates of the returns, it would be easier to clean up the process of preparing and filing the same returns and the same due dates. We wouldn’t be experiencing headaches if our customers would just file for an extension on their returns. But our customers usually think that this will lead to more problems because most people hate extending their returns. Furthermore, the Congress makes it a little bit harder for us to understand the returns.

Okay, let’s not get too over complicated around here folks. Simply put, taxes are just taxes and they can’t do you harm unless you do something really messed up.  If you try your best not to cheat the system, then you’re in good hands. I’m not scaring and stressing you out just because I’m terribly stressed out too. No, there’s no need for you to worry about it at all. Actually, all I want to do at this moment is thank our HVAC maintenance company for doing a great job in making sure that our Air Cooling and heating systems doesn’t bog down especially when it comes to peak busy seasons. Having a well ventilated work place keeps us work in a fast pace, and enables us to keep up with the demands of the hectic Tax Season. I have actually seen days where I experienced hardships when our Heating System in the office screwed up. Thankfully, we we have a reliable heating and repair company to go too. They’re only a call away when you want them to check up your heating system. Checking in for regular maintenance saves you a lot of trouble. And if there is really a need to fix a damaged heating machine, you’ll be surprised at how quickly they are able to get things up and running. This is why I still find it convenient to work despite the busy, stressful tax preparation months.  If you’re interested in how to find them just do an online search, something like this:  “Furnace Repair Spokane” or “Air Conditioning Spokane

Then write their number down for the next emergency.

Welcome Our Newest Client – Spokane Carpet Cleaning Company

I want to start off by welcoming our newest client “Dependable Carpet Cleaning” – They are a Carpet Cleaning Spokane Company.  Servicing the entire Spokane area with outstanding service.  Check out their awesome reviews on Facebook.

We also have a new sponsor for our city’s youth baseball team “Wall2Wall Cleaning Service”  They are a St. Louis Pressure Washing Company.  It’s company’s like theirs that keep shirts on our pee wee baseballers.

TAX SEASON IS OVER

I hope that everyone had a smooth tax season as it’s been a couple months since it ended. We look forward to making your life easier when it comes to all tax preparations next year.  You may be thinking what are my tax people doing now that their season is totally over.  I’m sure they are basking in the Hawaii sun counting all the money they made during the busy time.  Now it’s just all down hill until the beginning of 2017 right?

Boy I wish it was that easy for us.  Believe it or not, yes the months March and April are very busy times for us but even after April 15th we stay pretty busy.  We have hundreds of customers that pay us to do their day to day book-keeping and Payroll.  It’s definitely not as busy as the tax season months, but busy enough to cut that Hawaii vacation short.  With the busy season only 8 months away you can guarantee if there is a beach vacation to be taken we are on it.

Let’s talk about the 15APR individual returns. You will need Schedule K1 from any partnership or S corporation in order to start the individual returns.  These are called the “pass through” entities where the individual holds some ownership interest.  Because partnership returns weren’t due until 15APR, the same date as the individual returns – Tax preparers were often left in a tight spot.

C-Corps on the other hand aren’t the same, they are not flow through entities.  They usually pay their own taxes.  Congress over the last couple years made a couple tweaks to the system to make it easier on everyone.  By changing some of the due dates it would clean up the process of trying to prepare and file some of the same returns by the same due date.  This change will take effect in 2017 the due dates will be as follows:

Partnership – 15MAR

S-Corp – 15MAR

C-Corp – 15APR

Individual – 15APR

You are probably thinking why change all of this when you can file for an extension?  There are two major problems with doing this:

  1.  People hate extending their returns
  2. Congress is the worstThe first one is pretty simple to understand  – A client gets a date in their mind and they expect the tax return to be done by then.  If the extension comes from the client not having all the information ready that’s one thing, but if they have done their part to get the tax preparer all the correct information, then the tax return is extended, well this just doesn’t go over very well with the client.The second one is a little harder to understand – What does congress have to do with my tax return and whether it’s extended.  We will talk more about this in one of the following blogs.  This may take a while.

    Without making anything too complicated listen folks – taxes are only taxes.  Try your best, don’t cheat the system and you’ll be fine.  No need to get stressed out or scared over any of those sometimes offensive words.

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