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NEED TO KNOW BASIS
Everything you need to know in the world of finance

#TAXPREPTIP
According to the IRS.gov, everyone should check their withholding by doing a Paycheck Checkup ASAP,
even if they did one in 2018.
The federal income tax is a pay-as-you-go tax.
This means that our clients pay the tax as they earn or receive income during the year.
This also means that you can avoid a surprise at tax time by checking your withholding amount the year before.
By checking your withholding, you can make sure enough is being taken out of your paycheck or other income to cover the tax owed.  
Have questions?
Let us know!

WHAT YOU
NEED TO KNOW
 
Some of our readers have other firms prepare your taxes, most have us do it.   
If you are in the former category, read on, your tax preparer will love you for it!

Want next year's tax season to go smoother?  Two words - Prepare NOW. 
We're already gearing up for next season over here at Pembroke Advisors. 

Although we're still finishing up a few extended 2018 tax returns we're also setting our organizational sights on the 2019 tax season. 
To that end, we're coming up with ways to make your life easier, get those taxes filed quicker, and make your headaches shorter. 


Your taxes are something we want to get right and get out the door right away.

But ... You need to know: we're only as good as the information you give us and the time frame in which you send us your stuff! There we said it. Whew! 😅
WHY YOU SHOULD CARE

If you're a business owner your business taxes are due either due March 15th (Partnerships, S Corporations  and C Corporations ) or April 15th (for sole proprietors and LLC's filing as "disregarded" entities). 

April 15th is also the filing deadline for Individuals and Couples.  So we need all your information by February 15th for the first group and March 15th for the second group.   If we don't have it, we will file an extension for you.


As a reminder, extensions are awesome tools!  Although an extension is not an extension of time to pay it is an extension of time to file.  Extensions are very often an extremely useful tool.  If you don't have all of your data together, filing an extension can be a big help in managing your taxes and potentially save you quite a bit of money. 

You should care about organizing your information early and providing all your paperwork to us sooner than later.  But if you are not prepared by early spring, it is a huge positive to have us file an extension.

WHAT YOU CAN DO

So, what's a taxpayer to do?  You can help us, help you!

Here's a few things to keep in mind to help us help you:


1. We plan ahead so you can plan ahead. 
When we ask you to send us certain things by certain dates, it's not for us - it's for YOU.  This year we are helping you plan ahead by requesting you schedule a Fall Financial Checkup now.   Click the link,  book your Fall Financial Checkup and get that tax monkey off of your back so you can enjoy the upcoming holidays!

Key takeaway - When you see a request for certain tax documents or information with a deadline, hit the deadline and we'll do our darnedest to ensure your taxes are completed on time. 

2. Spill the beans - ALL the beans. 
Got married?  Tell us!  Had a baby?  Tell us - we may even send a gift!  Started a business?  By all means, tell us.!!!  If you forget to tell us things or withhold information, it delays your return filing and may even cause an inaccurate tax return! 

Want to really be ahead of the game?  If you have an important tax-related change happen during the year, shoot us a quick email and let us know!  We would love to cheer you on for the good changes and be there for you for the not-so-good ones too.

3. You can ask questions.
 
Worried about the timeline?  IRS sending you snail mail?  Wondering if you can deduct that "business trip" to Hawaii?  Ask us.   We have a team of people who can answer your most pressing questions - in tax season and out. 

We're available to walk you through any account, website, or services issues you may encounter.   Don't be shy, ask away!  Oh and if you did not do so already, schedule your Fall Financial Checkup, it's required for our clients this year. 
 

Here's a few extras you can do today-
  • You can start preparing NOW.  Yes, September 2019 is the perfect time to download our checkliststart gathering information, and schedule your Fall Financial Checkup. 
  • You can add our email to your address book and read/respond right away to anything from us that is tax-related.
Download Your FREE Tax Checklist
Hopefully, this helps you begin to prepare for the upcoming tax season, even if it's 7 months away. 

Know that we're here working for you to make your taxes and finances work as smoothly as possible. 

Remember:
  • Work the checklist
     
  • Read and respond to time-sensitive emails from us
     
  • Stay tuned for some new ways that we're going to make it easier to send us tax-related information. 

Here's to an easy breezy tax season - next year!
Download Your FREE Tax Checklist






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Pembroke Asset Advisors · 205 N. Stephanie Street · Unit # D 268 · Henderson, NV 89074 · USA

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