2014 Tax Season - Are You Ready?​

Are you fully prepared for the 2014 tax season? With the Affordable Care Act in place, everyone will be seeing new tax forms (i.e. Form 1095-A, B, and C), new credits (i.e. the Premium Assistance Credit) and much more. Instead of stressing over these updated rules, bring your information into either our Prairie du Sac or Middleton office. Our staff will take the time to explain what these new rules are, how they will affect you and more importantly how they will affect your refund!

 

Here are a few quick tips to make the upcoming tax season less stressful:

Check your withholdings

If you have a big refund during the 2013 tax season, you should consider lowering your income tax withholdings if your income and deductions will remain similar in 2014. Alternately, if you came owed a substantial sum when you filed for 2013 taxes, you may want to consider increasing your tax withholdings.

 

Examine your information

It’s a good time to meet with your tax preparer now—waiting until February of 2015 could add increased stress when you’re getting ready to file your 1040. Get together and look at your tax situation and start planning ahead.

 

Get Your Books or Financials in Order

If you’re doing anything beyond working, it’s time to start getting everything in order so that you aren’t rushing at the beginning of 2015. And if you’re a small business or have rental properties be sure to get prepared to issue 1099s or prepare other forms that you’ll need to complete your taxes.

 

Set Aside Receipts

Don’t wait until the end of the year to start thinking about deductions – be smart and start pulling together the records immediately so that they are close at hand come tax time.

 

If you like what you are reading by sure to  for the most updated information!

Brookfield, WI  

Phone: 414-751-6847

Fax: 866-486-4261

 

Sauk Prairie, WI  

Phone: 608-644-0206

Fax: 608-643-3467

Middleton, WI 

Phone: 608-824-3002

Fax: 866-486-4261