Ah, the holidays, the holidays…
The leftover Thanksgiving turkey still rumbles in your gut and Black Friday is, for the merchants at least, just a happy memory. We’ve trimmed the Christmas tree, hung the lights, and kept spiking the eggnog. Then, we took the tree apart and stored the decorations until next years. And now, one special thought begins to fill the minds of people everywhere…
…Income tax filing season is here!
So I thought this an opportune time to review my “10 Top Reasons It’s Time For You To Get A New Income Tax Preparer,” list. Then, in the next three (3) or four (4) posts, we’ll learn why any of these reasons could definitely cause a great deal less holiday joy for years to come.
Let’s just hope there aren’t too many of you already on a first-name basis with an IRA auditor because of your current tax advisor.
Reason number 10:
You own and live in a two-family home. Your tenant pays you $12,000.00 in annual rent, and you have use of 75% of the house. Your preparer, knowing you need a big refund, depreciates the house at 100% and shows only $6,000.00 in rental income for the entire year on your return.
Reason number 9:
You haven’t been to church, any church, in the last 20 years. Yet each and every year, your preparer says you can claim $10,000. For worshiping at a Church named Church.
Reason number 8:
You receive certified, return receipted correspondence from the IRS. When you show it to your preparer, she smiles and tells you not to worry, they just want to make sure you received your thank you note.
Reason number 7:
You’re a receptionist at a medical center. You earn $30,000 each year. Even though you never leave your desk, wear everyday clothes to work, and haven’t seen the inside of a classroom for 20 years, your preparer gives you generous itemized deductions of $9,000.00 for uniforms, $3,000.00 for educational seminars, and $2,000.00 for business-related travel on a Schedule A. Oh, and he reminds you your twice-monthly hair and nail appointments are deductible too.
Reason number 6:
Lost your 1099 Int’s and Div’s? “No worries”, says your preparer. “The IRS doesn’t worry about interest or dividends under $75.”
Reason number 5:
Your return shows three (3) brand-new dependents you’ve never met.
Reason number 4:
Your preparer guarantees you everyone qualifies for the Earned Income Tax Credit. “You earned an income last year, didn’t you?”
Reason number 3:
You ask your preparer if they have a PTIN and an NYPTRIN. He tells you he prefers to drive domestic vehicles.
Reason number 2:
Your preparer relocates each year. Luckily you find them. Again. (See Reason number 8, above)
And now the number one reason “Why It’s Time For You To Get A New Income Tax Preparer,” is:
Your preparer assures you he or she, “Knows how to get you the biggest refund you’ve ever received.”
The next post will deal with reasons one (1) , two (2) and three (3).
Hey, who said we were going in order.
Until next time, start gathering and itemizing those receipts.
Peace and Blessings,