We truly appreciate this opportunity to serve you. During the coming tax season, we would like our clients to fill out the 2021 Data and Questionnaire for income tax return since it is required by laws. The questionnaire is extremely valuable for discovering tax saving opportunities. If you answer any questions that needs additional info, please include an explanation so that we don’t have to spen
d more time asking you about it. Please make sure you sign the Engagement Letter, which we must have before we can prepare your returns. RATE INCREASES
Effectively in 2016 tax season, our rate will be increase due to the costs, license fees increasing and ACA forms. MANDATORY PAYMENTS
Please include a check or cash for the same amount (plus additional increase) as your preparation fee from last year along with your COMPLETED tax info. We appreciate bills being paid as soon as the returns are completed. We are not currently set up to accept credit cards directly, but we can accept checks or cash. EXTENSIONS
Please contact us in the first week of MARCH so we can get the information to do your April 15 extension. Let us know how much you paid in to IRS and the State and if you think you may owe any more money. If you think you may owe, April 15 is the time to send it in so you won’t be charged penalties or interest. April 15 comes too soon for most people to do a thorough and accurate job tallying up their year-end figures. It is much better to take your time to ensure all of the figures are accurate than to try to slap together something in haste. It is a simple matter to receive up to six months of additional time, until October 15, in which to file your tax returns. There is also an additional benefit to filing your tax return after April 15, besides less stress on yourself and your preparer. While there is no absolute guarantee against having your tax return selected by IRS for audit, it is a proven fact that returns filed later in the year have a much lower chance of being selected than those filed by April 15. TIME IS MONEY
This is more than a cliché with us. While some professionals do charge a contingency fee based on a percentage of a transaction, we haven’t found a better method of charging than the time we spend on a client’s behalf. STOCK TRANSACTIONS
For those people with large numbers of stock market transactions, we need proper matching of the sale and purchase sides of each transaction. Contact your stockbroker about providing you with your year-end statements in the proper format to coincide with Schedule D. This simple step can dramatically reduce the time we have to spend on your tax return, saving you huge amounts of money in our fees. Another helpful alternative is to have the annual stock activity in an Excel spreadsheet that will save us a lot of time with data entry, and thus a lower fee for you. We look forward to another year working with you. Sincerely,
Dean Huynh, President
Richard Huynh, CPA
