Neta Painter, CPA

01/23/2023

Today is the first official day of tax season! The IRS is now accepting tax returns.

This will be my 30th year on this crazy tax train. Looking forward to a great year!!

03/23/2022

One quick tax tip regarding your refund - if it is more than you were expecting make sure it is correct! While we have many great tax preparers in our area, there are a few shady ones that are creating fraudulent returns to generate large refunds.
1. Know what your return says before you sign it. If you do not understand something on your return ask your preparer to explain it to you.
2. If you did not own a business when you walked in to have your taxes prepared, do not allow your preparer to create business losses on a fictional business.
3. You can make a report to the IRS for tax preparer misconduct.

12/30/2021

The IRS is allowing you to take a $600 (for MJF, $300 for single) deduction for cash charitable donations, in addition to your standard deduction. The donation needs to be made by December 31. Only 2 days left!

02/24/2021

The IRS has issued tax relief to individuals that reside in or have a business in all 254 Texas counties. You now have until June 15, 2021 to file various returns and make payments. This also includes your IRA contribution, your 4/15 estimated tax payment and your quarterly tax return due on April 30.

TX-2021-02, February 22, 2021 — Victims of winter storms that began February 11, 2021 now have until June 15, 2021, to file various individual and business tax returns and make tax payments, the IRS announced today.

01/29/2021

Tax time is just around the corner!! The IRS is not accepting returns until February 12, but we can start the process now.

Also, as of today I am proud to be an Endorsed Local Provider of Dave Ramsey and his team at Ramsey Solutions.

Call me at (903) 715-1623 or message me at [email protected].

01/05/2021

Business Meals are 100% deductible in 2021 & 2022! Make sure you make a note on the receipt of who you were eating with and the business purpose.

03/19/2020

Great article regarding tax payments. In a nutshell, the tax deadline has not changed. Your personal, corporate and estate and trust returns are still due April 15. However, if you owe tax you have until July 15, 2020 to pay it. This also applies to your April 15 estimate payment, but not to your June 15 estimate. Call me if you have any questions. 903-715-1623

https://www.forbes.com/sites/kellyphillipserb/2020/03/19/all-you-wanted-to-know-about-the-recent-irs-tax-payment-relief-but-were-afraid-to-ask/?fbclid=IwAR3a0bLN6Gen5F5KngrG69Z97E5drITLOYh5JzpVRykzw_DuIVtXr4FN8g0

The Internal Revenue Service (IRS) has announced that the due date for making tax payments has been pushed to July 15, 2020.

03/14/2019

https://l.facebook.com/l.php?u=https%3A%2F%2Fwww.forbes.com%2Fsites%2Fkellyphillipserb%2F2019%2F03%2F13%2Fcongressional-proposal-would-extend-the-tax-filing-season-by-five-weeks%2F&h=AT0AGIwTulNlTHCHw3rofQ7ONVFiqqI5eugp7HFZNjfVpoyweMgguR2ErceZFl9ZQdMgmJy1ssCxn4LA4nwFMzwdInlgDCFkkzAkbXylk91guf8XXmL-vyY42J9YgM_R8e1PHQnAktw&s=1

Remember that earlier chatter suggesting that Congress should extend the tax filing season? There’s now a serious proposal to do just that.

02/02/2019

https://www.irs.gov/newsroom/tax-return-preparer-fraud-ranks-on-2018-dirty-dozen-taxpayers-urged-to-choose-reputable-tax-preparers

Please be careful who you choose to prepare your tax return. We have many excellent preparers in our area. Unfortunately we also have those that prepare fraudulent returns and charge huge fees based on the refund.

DO NOT SIGN your return until you have reviewed it and asked questions about anything you don't understand.

IR-2018-45, March 8, 2018 — With more than half of the nation's taxpayers relying on someone else to prepare their tax return, the IRS reminded consumers to be on the lookout for unscrupulous tax preparers looking to make a fast buck from honest people seeking tax assistance.