Attention Taxpayers!
Taxpayers will have until Tuesday, April 17 to file their 2011 tax returns and pay any tax due because April 15 falls on a Sunday, and Emancipation Day, a holiday observed in the District of Columbia, falls this year on Monday, April 16. According to federal law, District of Columbia holidays impact tax deadlines in the same way that federal holidays do; therefore, all taxpayers will have two extra days to file this year. Taxpayers requesting an extension will have until Oct. 15 to file their 2011 tax returns.
Happy Holidays!
Wishing you and yours a very happy holiday and prosperous New Year!
From all of us at Edwards and Associates ~ Cheers! ~
Year-end Prepayments
It is that time of year again and as we rapidly approach the end of 2011, we would like to remind you of the tax benefits of prepaying your
2012 expenses. Prepaying items like your professional accounting services
can provide you a valuable tax savings strategy. In most cases, for those
of you in the 35% tax bracket, prepaying your 2012 fees will save you 35% of
that amount in tax. For example, prepaying $5,000 in fees would save you $1750
in tax. Not only would you get to benefit from the tax savings by
deducting the expenses on your 2011 return, but you can worry less about
invoices from us in 2012. Please keep in mind that if you were one of the
few that were advised in your tax plan to accelerate income and defer expenses
to next year, you would not want to prepay these or any other items!
If you would like to prepay any or all of your accounting fees for
2012, we can process your prepayments by check or any major credit card and it
has been our pleasure to work with you this year and we look forward to an
ongoing relationship in 2012!
Please get with Shelly Whipple, in our billing department, for any
questions regarding this matter.
Happy Thanksgiving!
Have a blessed Thanksgiving with your family and friends! ~
Letter from IRS, do not be alarmed!
You should have received “Your2012 Federal Tax Deposit Requirements for Form 941” letters recently from the
IRS. These are standard letters and should not be cause for alarm,
but could signal you need to change the frequency with which you make payroll
tax payments. If you have any questions regarding your deposit schedule,
please contact us!