George M. Lewellen, CPA

George M. Lewellen, CPA Tax return preparation with more than 20 years experience. Please call for appointment.

03/15/2022

Tax tip: Many people like to see a government refund check in their hands, rather than depend on electronics for Direct Deposit, so they file paper returns or do not request Direct Deposit. Last year and this year IRS has been understaffed and underfunded with the reported result they are inundated with paper tax returns that have still not been processed.
In all my years of preparing tax returns, the Efile and Direct Deposit process has worked flawlessly. For a faster refund, file your tax returns electronically with request for Direct Deposit.

03/05/2022

Tax tip: We are now fairly familiar with the new limitations on federal itemized deduction and standard deduction that eliminates itemizing. However these federal changes allow charitable contributions up to $300 plus the standard deduction. So do itemize your federal charitable contributions. However, California has not conformed to the federal itemizing limitations, so itemized deductions on the California return are still available.

02/08/2022

IRS Ditches Facial Recognition
IRS is confronting scams, identity thefts and bogus refund and tax return filings. It was considering facial recognition to thwart this issue and has announced it will drop this in the face of congressional pushback.

01/24/2022

Tax Tip: We are all familiar with paying into a traditional IRA and deducting the payment. Then the contribution grows tax-free until it is distributed and becomes fully taxable. It is always great to be able to deduct it and still have it. But consider the benefits of a Roth IRA. No deduction for the contribution, yet it continues to grow tax free just like a traditional IRA. However, the distributions after retirement are never taxable. Let’s say someone starts one early and over their working life, the Roth grows to $250,000. If one can get 10% return, for example, that produces $25,000 tax-free for life without ever touching the principle. Suppose the RMD (required minimum distribution) is $35,000, the entire $35,000 comes out tax free. Not bad!

01/13/2022

Tax Tip: if you are expecting a refund, I suggest you file early, electronically, and use direct deposit. IRS is shorthanded this year and anything requiring handling will be slow.

01/07/2022

Palo Cedro Community, for fast and efficient local tax preparation service, please give me a call.

Address

9434 Deschutes Road Unit 207
Palo Cedro, CA
96073

Opening Hours

Monday 9am - 3pm
Tuesday 9am - 3pm
Wednesday 9am - 3pm
Thursday 9am - 3pm
Friday 9am - 3pm

Telephone

+15305474099

Website

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