New Year New Season!

Happy New Year!

We pray 2023 begins with you and your family, safe and healthy!

With a New Year comes a new TAX SEASON! This new season comes with

changes but not as many or impactful as those we experienced in the last three

years. These changes included but were not limited to the loss of the charitable

deduction for non-itemized filers and the creating and extending of credits under

the Inflation Reduction Acts.

The tax season is projected to open the week of January 23rd and this year will end

on March 15th for partnerships, multi-member LLCs, and S-Corporations. C

Corporation and personal tax returns get a couple extra days with an April 18th

deadline. Therefore, in the coming weeks as your tax documents begin to come in, we

recommend getting organized by using a checklist to make sure no document is

missed. If you have no idea what tax documents, you may need beyond the

standard W-2 or 1099. You may want to utilize a tax checklist. These checklists

can assist you with the gathering of your tax documents. There are multiple types

of lists found on the web, we have several our site under our checklist tab.

Remember you never have to travel this tax journey alone. Do not be afraid to ask

for assistance or seek expertise of a tax professional. As Aunt Myrtle use to say

“Anything worth doing is worth doing right the first time.” That one pretty sure she

heard or read somewhere but it always stuck with me.