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Pam will be sending out her 2020 tax newsletter soon... keep an eye out!
It's Tax Time in Tinseltown!
January 27, 2020
Writing this letter always makes me think about how many of these letters I have written. My first year preparing taxes was 1975. Prior to that I had done what is called in the business, “checking and finishing” for a couple of seasons. My practice grew rapidly, and I incorporated in 1994. I have lots of long-time clients from those early days – two whose return I’ve done since 1975. It’s a lot of tax returns.
Our crew is the usual suspects. Suzi, now the grandmother of a beautiful little girl, and I (my grandson, Clark, is now a devilish 3 year old) are interviewing. Jen, Alice’s daughter who is an EA, is doing mail-ins and managing workflow. Alice is, as always, front desk. Femio, Joyce, and HayLi, Suzi’s daughter, are doing data input, and this year my daughter, Leslie, is helping as a jack of all trades between animation jobs. We are ready for some tax fun. You too?
Last year was, as you remember, a year of huge changes. This year – not so much. You are nolonger required to have health insurance, although next year you will be required to have it for CA. Also, we still need to input the information on the Form 1095A if you have your insurance through Covered California. If you don’t get the form by mail, go online. Not having it will delay the completion of your return.
I am only doing four interviews a day this year. We are trying to do more returns as mail-ins. More firms are doing this industry-wide. Even if you have an appointment, we have found that having you mail, or better still, upload your documents and worksheets to your secure portal at least two weeks prior to your appointment, facilitates the process greatly. When scanning & emailing please try to consolidate into as few PDFs as possible.
The worksheets are updated and, on the website, pamelapriceea.com. READ THEM! USE THEM! You may think your method is just as good – it’s not. The worksheet is in the order we work in and it keeps you from forgetting information we need. Please use them. Remember we need odometer readings for your car, and if you got a new car, please bring the bill of sale or lease. There’s also information on recordkeeping, LA City Business Tax, answers to FAQs, and much much more. Send your mail-in EARLY. The closer you get to March 15th the less likely you are to get it by April 15th. If we can’t complete it, we will tell you what to send with your extension if it looks like you owe.
Try to have all your information when you send your documents and worksheet in. Adding information later delays your return. Missing information must be received by April 1st.
Sorry guys, but there will be a fee increase of $40. My expenses have increased – more from employees to rent. To avoid the increase, do a mail-in. Generally, we won’t increase those fees unless the work is more or they have been too low for too long.
See you soon. Happy Calculating!
Remember, there're only two things certain in life - death & taxes. We can help you with one of 'em.