Michele Furbeck, CPA

12/27/2023

07/06/2023

I recommend that you contact your accountant or tax preparer whenever you receive any correspondence from a tax agency. Scams like this are constant. Let your tax professional help guide you with any necessary action, even if it is a legitimate communication.

A new scam involves a mailing coming in a cardboard envelope from a delivery service. The enclosed letter includes the masthead and wording that the notice is “in relation to your unclaimed refund.” Don’t fall for it: https://ow.ly/t7Uv50P2K8k

04/10/2023

8️⃣days to go!! (But who is counting!? 🤓)
If you are still working with your tax preparer to get your tax returns completed by the 4/18 deadline, here a few things you can do to get it done, and also save some of your preparer’s sanity:
~ Follow up and send them the information they may have requested; don’t wait.
~ Check your email and voicemail in case they are trying to reach you. And then respond to them.
~ If you are going to be out of town so close to the filing deadline, let them know that.
~ Remember, you have one set of tax returns to complete by 4/18 - they very likely have many still to go.

04/05/2023

Avoid tax preparers that are bad eggs. The reminds taxpayers to avoid “ghost preparers” that will prepare but refuse to sign your return as a paid preparer. Remember, the taxpayer is ultimately responsible for filing a valid and accurate return.

Dishonest tax return preparers may also:
•Require payment in cash only and not provide a receipt.
•Invent income to qualify their clients for tax credits.
•Claim fake deductions to boost the size of the refund.
•Direct refunds into their bank account, not the taxpayer's account.

Search through the IRS directory of professionally credentialed tax preparers at www.irs.gov/chooseataxpro

03/19/2023

An reminder that April 1 is the last day to start taking money from Individual Retirement Arrangements (IRAs), 401(k)s and other similar workplace retirement plans for individuals who turned 72 in 2022. The payments, called required minimum distributions (RMDs), are normally made by the end of the year. But those born after Dec. 31, 1949, qualify for the April 1 deadline in their first year.

Visit http://ow.ly/k7BN50NfuR5 for more information and FAQs on RMD.

03/13/2023

See you soon!

02/26/2023

As we get ready to head into March, most individuals should have received all of their tax documents. Be kind to your accountant or tax preparer ❤️ Don’t wait until the last minute to reach out to them about preparing your tax returns, or to follow up on any information that you still need to provide. You most likely have 1 or 2 filings of your own to worry about, they have everyone’s to worry about. 🤓
Upcoming deadlines:
March 15 - S Corporation & Partnership Tax Returns and NYS LLC/LLP Filing Forms and Payments
March 20 - NYS Annual and Quarterly Sales tax Returns
April 18 - Personal Tax Returns for 2022 and 2023 1st Quarter Estimated Tax Payments

02/17/2023

The New York State Department of Taxation and Finance today reminded seniors that, for most localities, the deadline to apply for greater property tax savings through the Enhanced STAR property tax exemption is March 1.

01/30/2023

Most people can use online options to prepare their tax returns and file them electronically. If you are ready to file your 2022 taxes, see if you qualify for free software: www.irs.gov/freefile

01/25/2023

NYS Unemployment Benefits received in 2022 are fully taxable. NYS Forms 1099-G are now available according to the New York State Dept. Of Labor. If you received Unemployment Benefits in 2022, please look at your account to know whether you need to print the form online, or to expect it in the mail.