Don’t file your tax return before you’re ready

tysllpTax Accounting, Tax Season

tax returns, local tax preparer, local tax accountant

Don’t file your return before you’re readyTaxpayers should never file late, but they shouldn’t file unless they are ready either. Taxpayers who file before they receive all the proper tax reporting documents run the risk of making mistakes that may lead to processing delays.  Amended returns are currently taking an unprecedented amount of time to process by the IRS so … Read More

Deductions and More: Getting Ready For the Next Tax Season

tysllpTax Accounting, Tax Season

Tax deductions and getting ready for tax season

Americans love paying taxes.They love it so much that over 120 million of them chose to pay extra and had to get refunded.All jokes aside, there’s a lot of serious information to know when you’re prepping for tax time, and it’s never too early to get started! It could save you time and money next year.Luckily, it doesn’t have to … Read More

Tax Preparation vs Tax Planning

tysllpBusiness News, Tax Accounting, Tax SeasonLeave a Comment

Tax Planning is not tax preparation

  Many people assume tax planning is the same as tax preparation, but the two are quite different. Let’s take a closer look: WHAT IS TAX PREPARATION? Tax preparation is the process of preparing and filing a tax return. Generally, it is a one-time event that culminates in signing your return and finding out whether you owe the IRS money … Read More