Fehn Accounting PA

Fehn Accounting PA Accountant

08/24/2022

I do not get messages through messenger so please email me at [email protected] or call my office if you need/want to get ahold of me. Thank you!

03/10/2018

Sadly, this is very true! Many clients have had this phone call. These impersonating IRS agents can be very intimidating! Very disturbing, especially when they are successful in scaring them. These callers also have said that their tax accountant is a fraud, and that they will be going to jail as well. I also had an IRS agent herself tell me that she had received this phone call as well. Please be aware of these scammers, so you do not become one of their victims!

08/01/2017

Buying school supplies? Minnesota Revenue has a credit or subtraction for the required school supplies for your K-12 graders. (Shoes, backpacks and kleenex are not on that list). Hang onto those receipts. Tax tip: get a separate receipt for those school supplies.

08/01/2017

How long should I keep tax returns and/or records? I receive this phone call quite often. The answer depends on the type of document and also the kinds of transactions you engaged in. As a general rule, the IRS has 3 years from the date you filed your return, or due date of the return (whatever is longer) to question items on that return. However, the IRS can go back up to 6 years if the return had omitted more than 25% of income. If fraud was proved, there is no limit.
Do not automatically throw out all returns or records after the 3 years! Look over the old documents to see if you might need any parts of them in the future. Hold onto records that help establish the adjusted basis (real estate, equipment, security transactions, just to name a few). Retain these documents at least 4 years after you dispose them.
Businesses should keep the payroll records at least 4 years, while cost of assets, depreciation, etc. should be retained for decades.
Important papers, such as retirement plans, estate & gift returns, divorce and property settlements, deeds, trust documents should be kept in a permanent file.
This is just a small list, so please keep those phone calls coming.

06/24/2017

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Address

470 4th Street N
Dassel, MN
55325

Opening Hours

Monday 9am - 5:30pm
Tuesday 9am - 5:30pm
Wednesday 9am - 5:30pm
Thursday 9am - 5:30pm

Telephone

(320) 275-3387

Website

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