When to Seek Assistance from Your Accountant

If you wait for your regular appointment to discuss current tax-related issues, it might create problems or cause you to miss out on beneficial options that need to be timely exercised before year-end. If you have a substantial change in taxable income or deductions, by contacting our accounting office to discuss those changes would be beneficial to you in the long run. We can advise you about how to optimize your tax liability, avoid or minimize penalties, estimate and pre-pay required taxes, document deductions, and examine and explore tax options.

Give us a call if the following applies to you or your spouse:

• Did you receive a large employee bonus or award
• Are you now unemployed
• Have you changed employment
• Did you take an unplanned withdrawal from an IRA or other pension plan
• Have you retired or are contemplating retirement
• Did you move or otherwise change your address
• Exercise an employee stock option
• Do you have significant stock gains or losses
• Have you married
• Have you separated from or divorced your spouse
• Did you sell or exchange a property or business
• Did you experience the death of a spouse during the year
• Have you turned 70½ during the year
• Was your family size increased through birth or adoption of a child
• Did you start a business or acquire a rental property
• Did you receive a substantial lawsuit settlement or award
• Were you lucky at a casino, lotto, or game show and receive a W-2G
• Do you plan to donate property worth $5,000 ($500 if a vehicle) or more to a charity
• Are you planning to gift more than $14,000 to any one individual during the year

Also, please remember to contact our office whenever you receive a notice from the government related to your tax return. You should never respond to a notice without first checking with us.