Tuesday, March 22, 2016

It's Tax Time

by Maggie Sefton

Well, it's that Time again.  Time for most of us to gather together all our information from last year 2015 and either sit down some evening and figure out our simple tax returns by filling in the information from the form 1099(s) that we received from our employer(s) or spend several evenings gathering all receipts and expenses from 2015 for our small businesses and --- either spend several evenings computing all the expenses for our businesses plus all the other Income Tax forms required by the IRS (Internal Revenue Service) ----OR-----take all that gathered information to our C.P.A. or other Income Tax professionals.

Most of you folks may recall my saying that I was a C.P.A. myself years ago.  That's true.  But after I gather all my info, I also take all of it to my C.P.A.  She and her staff do an excellent job in a timely way.  Since it's been so many years since I worked in a tax and accounting firm, there have been MANY, MANY changes to the Federal Income Tax Code.  There's no way I want to spend the time necessary wading through all those income tax regulations----pages and pages.  Yuck!  So, last week I took everything to my C.P.A.

Most of you will only have the simple tax forms to think about and will probably easily complete your own forms yourselves.  In fact, I bet a large segment of you folks have already completed that task and some of you early birds may have already received your Refund.  If so, Yay!!!   You are way ahead of the rest of us.  Go out and celebrate---if your refund was large enough.  And if it was really large, why not plan a fun trip for yourself and/or your family.  Enjoy!