Help Your Clients Save at Tax Time

Posted by Robert L. Arone – 6 Important Conversations to Have with Your Clients Before the Hustle and Bustle of the Holidays As summer gives way to fall, it’s time to start thinking about year-end tax planning. This is an opportunity to communicate with your clients, offer solutions, and deepen your relationship by helping them save thousands of dollars next spring at tax time. To help your clients make the most of these opportunities, here are five conversations you can have with them before the holiday season sets in. 1. Discuss any tax changes for 2016 that might affect the client. Yearly changes in the tax rules can either save or cost them at tax time. Since you’re already familiar with your clients’ financial structures and strategies, you can determine which of your clients are affected by tax law changes, using that conversation as an entry point to a discussion

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Are You Tax Return Prepared?

By Eric P. Rothenberg, Esq. – In order for you or your preparer to do a good job on your income tax returns, which in turn will reduce the risk of being audited, here are some notions you must keep in mind. The Internal Revenue Service requires individuals to gather the adequate documents that can also help provide answers if their return is selected for an audit or to prepare a response if they receive an IRS notice. There’s a list of tips and facts designed to help you begin planning to file your 2015 income tax returns. Basic Recordkeeping: Identify sources of income. This is one of the least done tax preparations that needs to be done. The IRS’s position is that all income is taxable unless you can prove otherwise. When you get audited, usually two years or more after you have filed, you will not remember what each

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