Award Winning Alpharetta/Atlanta CPA Reminds Taxpayers That Personal Income Tax Returns are Due April 15, 2010
Award Winning Alpharetta/Atlanta CPA Reminds Taxpayers That Personal Income Tax Returns are Due April 15, 2010
The initial due date for personal returns is April 15. For returns not filed by that date both the IRS and GA allow for a six month extension. Please be reminded that there are no valid extensions after the October 15 final due date lapses. Please be reminded that an extension to file is not an extension to pay and that you are required by tax law to pay applicable taxes as the monies are earned or you will be subject to additional penalties and interest. When processing personal returns our primary concern is both accuracy and ensuring that ever taxpayer pays only their lowest legal possible tax. Below is a sample letter that we might send to encourage taxpayers to forward all of the necessary documents and information required to properly file the return:
In getting started on your personal return I did not see:
-What you paid in estimated tax payments by date to both the IRS & GA for 2009. For 2010 I suggest we do tax planning (after you give me a net profit before distributions and salary to the owners) so I might advise you to adjust your withholding accordingly. I recommend all of my clients pay all of their taxes via payroll withholding as the IRS and GA will add tax penalties and interest for late payment. For all Business Owners I recommend you use a payroll service to help out with the burdensome administrative and reporting responsibilities of processing payroll.
-I did not see the property taxes/ad valorem on your personal vehicles.
-I need the purchase date of the stock you sold so that I can properly classify the gain between short and long term and capital gain.
Please be reminded that the mileage rate for 2009 is 55 cents per mile. For 2010, the mileage rate is 50 cents per mile. Please turn in an expense report monthly to get reimbursed for these and any other business expenses you might have paid personally. IRS tax rules require you to have a day by day log to support business miles. Please be reminded that extending the filing of a return does not delay the need to pay as you go as both the IRS & GA will bill you for penalties and interest if you do not pay your taxes during the tax year to which they relate.
John Dillard, CPA of His CPA, PC (An Atlanta Christian CPA firm) 1940 Woods River Lane, Duluth, GA 30097 Phone 770-814-9304 http://www.hiscpa.com/ To retain John Dillard CPA (An Atlanta Christian Speaker/Author) for your business group or church congregation, you can contact him today at 770.814.9304
His CPA PC…A Christian Atlanta CPA Firm: Never Underestimate the Long-Term Benefits. Dare to Attempt Something so Great for the Kingdom of God that it is doomed to failure, lest Christ be in it!
Related posts:
- Duluth/Gwinnett/Atlanta CPA Reminds Atlanta Taxpayers that Personal Income Tax Returns are Due April 15, 2010
- Alpharetta/Duluth CPA Reminds Atlanta Business Taxpayers Corporate Income Tax Returns are Due Today
- IRS Extends the Due Date on Personal Income Tax Returns to April 18, 2011
- 2010 Personal Tax Returns/IRS Form 1040 are Due April 18, 2011
- Gwinnett/Duluth/Atlanta CPA Reminds Atlanta Taxpayers That Corporate Returns are Due March 15, 2010