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January 2009
Issue: 17
Tax Season Is Here!
 
I hope everyone had a wonderful holiday season!  With the holidays over, that means that tax season is upon us.  It is time to start getting your tax information organized to file your 2008 tax return.  There were over 100 tax law changes this year and they affect just about every taxpayer in one way or another.  With the economy in its current state, it is more important than ever that you take advantage of all of the tax breaks available to you and maximize your refund this year.  We are currently taking appointments to prepare 2008 tax returns and we can begin e-filing the returns on January 16th.  Most of you should have your W-2's and other tax documents by the first week of February and we encourage you to call now to schedule an appointment to get your taxes prepared.  Please download our Income Tax Data Itemizer and fill out the areas that apply to you prior to your appointment.  If you are a small business owner, then please visit the forms section of our website to download the worksheets to fill out to record the activity in your small business for 2008.  It is much easier for us to prepare your tax return if these forms are completed when you come in for your appointment.  If you have any questions when you are filling out the forms, then please contact us and we can answer your questions for you.  Our extended busy season hours are Monday through Wednesday 9am - 8pm, Thursday and Friday 9am - 7pm, and Saturday hours are 10am - 3pm.  Feel free to call anytime between these hours with questions or to make an appointment.  For those that live out of state or prefer not to make an appointment, the option is available for you to mail or email us your tax information.  We encourage everyone to make an appointment earlier in the year as we get very busy the closer it gets to April 15th and we cannot guarantee a timely filed return if you schedule an appointment for early April.
 
We wish you a very happy 2009 and we look forward to seeing you during the next couple of months!  Enjoy this months newsletter!
 
Lawmakers have passed more than 100 new tax law changes that could help millions of individual taxpayers save money on their taxes this coming season.
 
"With more than a hundred pro-taxpayer credits and deductions, many taxpayers will qualify for new benefits that may not have been available last year," said Jackson Hewitt Tax Service vice president of tax resources Mark Steber in a statement. "Taxpayers affected by these changes could see significant savings, and with the current recession, it is even more important that taxpayers get all of the tax benefits they deserve."

Read more...
In This Issue
Tax Law Changes Reduce Taxes This Year
IRS Presents: Top Ten Tax Time Tips
Upcoming Tax Deadlines
 
1. Gather your records...now! It's never too early to start getting together any documents or forms you'll need when filing your taxes: receipts, canceled checks, and other documents that support an item of income or a deduction you're taking on your return. Also, be on the lookout for W-2s and 1099s, coming soon from your employer. 

Read more...

Upcoming Tax Deadlines

 
January 15th - December payroll deposits are due for monthly depositors
 
January 15th - 4th quarter estimated tax payments are due for individuals
 
January 31st - 4th quarter payroll returns are due.
 
January 31st - Employers must distribute 2007 W-2's and 1099's to it's employees.
 
March 15th - Corporate tax returns are due (Forms 1120 & 1120S).
 
Please let us know if there is anything we can do for you!!

Thomas R. Vetscher, CPA
John T. Vetscher, CPA

651-690-2250

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