March 25, 2005

April 15^th is fast approaching.  Based on past experience and the fact that a normal return takes two weeks from the day my office receives it to the day it is ready to be picked up, I must designate March 31^st as the deadline for getting your information to me and avoiding an extension.

If our office receives your information after March 31^st, I will still make every effort to complete the return by April 15^th, but I cannot make any promises.  I will complete the returns on a first-come, first-served basis.

This year many 1099 Forms will be amended in March, which means more tax returns cannot be completed until early April.

That being said, do you have everything you need?  All your documents and figures totaled?   Is there usually something missing once you start putting it together?  Remember that setting up a “Tax information envelope” in January of each year will certainly help now.

Maybe you’re thinking that you’ll just file an extension.  It’s true that you cannot be denied an extension, but you do have to pay 90 percent of what you owe in taxes by April 15.   The most important thing is carefully calculating your taxes.  So that means you have to basically prepare your tax return.  If you did your best guess, you need to find out and file as soon as possible after the extension.

SO DON’T WAIT UNTIL THE LAST MINUTE!

Schedule your appointment now or drop off your complete tax information as soon as possible.  I can be more flexible during March and will make an effort to get each of my clients done and in on time. 

Sincerely and going the extra mile,
Millian M. Toms

Call Millian Toms at 248-541-2052 with any questions.
or milliantoms@aol.com

Millian M. Toms is a Royal Oak-based CPA and business advisor. She is also an active member of the community including The Optimists and Greater Royal Oak Chamber of Commerce. 

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