Time’s up! Today is the deadline for those of you who filed an extension on your 2015 taxes. Sometimes circumstances demand filing a tax extension to avoid penalty. But it’s important to remember that an extension doesn’t delay money due at tax time. And on-time filing, when possible, is always best.
Let us help you plan ahead starting NOW so that you can meet all 2016 deadlines. We just started the fourth quarter of the year, and soon calendars will fill with holiday plans. One way to keep yourself on task and on time is to block time to start pulling materials together. Maybe it’s an hour or two a couple evenings a month, or a bit of time each weekend. Whatever will work for you is the ticket! Dedicate appointments on your calendar to the categories you will need to address in tax season, like: medical expenses, business expenses and charitable deductions.
Having this information organized will make tax filing MUCH easier when forms begin to arrive in 2017. One place to start is looking at your previous year file. (Remember to keep all files for at least 3 years!) If you want to get together to outline what materials your circumstances will require, call us anytime at (913) 888-9100. We can help get you on track to an on-time filing for 2016.
Richard Adams is a graduate of Benedictine College in Atchison, Kansas, with dual majors in Accounting and Business Administration. He is also a graduate of Wentworth Military Academy in Lexington, Missouri.