This is Going to be a Tough Tax Season! | Tax Tip of the Week | No. 188

Don't Wait on Your 1099 or K-1!

In our CPA practice, we find that many clients want to hold all of their tax information until they have received that final Form 1099 or K-1. Yikes! Don't do that! Some brokerage firms don't deliver 1099s until as late as March 8th, or amend the original 1099s frequently until March 31st. We want you to provide us, or your CPA, with all available tax return information as soon as you have it pulled together. Don't wait until you receive that last form! This year it is especially important to get your tax information to us, or your CPA, as soon as possible. With the passing of the tax bill occurring so late, the IRS is still working to get many forms finalized. By getting your information to your CPA in early March, you will have your return in the front of the queue and through the tax season hourglass well before the stress of April 15th! 

As always, give us a call with any questions or concerns you may have.You can contact us in Dayton at 937-436-3133 and in Xenia at 937-372-3504.  Or visit our website.

Rick Prewitt - the guy behind TTW...until next week.