The NetClient portal is a secure extension of our web site designed to allow more efficient and safer delivery of your tax returns. Please note that documents are not retained permanently on the NetClient website. As such, you should download and save all documents to your personal computer. Access to the NetClient section of our web site is reserved for clients who are utilizing our portal services.
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If you would like to know more about this service, please call us.
ShareFile is a third-party file sharing site developed and maintained by Citrix. We utilize this service to receive and transmit electronic documents that contain personally identifying information (e.g. SSNs, Account Numbers, etc.).
Click here to securely send us your electronic files and documents.
Useful Forms and Tools
Calculators, Non-Cash Charitable Valuation, and Misc.
ALWAYS send us a copy of the notice. Even if it is a bill for a small interest or penalty amount, we like to have all correspondence from tax agencies in our files. The worst consequences occur when taxpayers ignore the correspondence or simply do not respond to it.
The most common unexpected "bill" from the IRS is a CP-2000 notice. These notices are generated when IRS can not match the data sent to them with the data on your tax return. All tax documents such as W-2s, 1099s and 1098s are sent to IRS by the issuer of the document. We can usually determine the source of the discrepancy within a few minutes and write a response on your behalf when IRS is incorrect. All adjustments are reported to the state tax agencies so they may also issue bills based on those adjustments.
The California Franchise Tax Board is conducting its own matching program, but the most common notice is the Head of Household Audit Letter. This is a routine approach to verify qualification for Head of Household filing status. If you have any questions on how to complete the questionnaire, contact us.
The statute of limitations for the IRS is three years from the due date (or date filed, if later) of the tax return. California’s statute of limitations is four years. If you keep records for five years, you will be covered for both. You should keep documentation of assets purchased (real estate or personal property) until five years after you dispose of the asset. There is no statute of limitations for returns that are based on fraudulent information.
• Estate tax exclusion - $5,490,000 (2017), $5,600,000 (2018)
• Annual gift tax exclusion - $14,000 (2013 - 2017) , $15,000 (2018)
• Lifetime gift tax exclusion (in excess of annual exclusions) - $5,490,000 (2017) and $11,180,000 (2018)
NOTE: The annual and lifetime exclusions are indexed to inflation
The 2017 mileage rates are as follows:
• 53.5 cents per mile driven for business
• 17 cents per mile driven for medical or moving purposes
• 14 cents per mile driven in service of charitable organizations
The 2018 mileage rates are as follows:
• 54.5 cents per mile driven for business
• 18 cents per mile driven for medical or moving purposes
• 14 cents per mile driven in service of charitable organizations
The most you can contribute to all of your traditional and Roth IRAs is the smaller of:
• $5,500 (for 2015 - 2018) or $6,500 if you’re age 50 or older by the end of the year; or
• your taxable compensation for the year
NOTE: These amounts cannot exceed earned income (except for spousal IRAs) and may be limited by high income.
For 2015 - 2017: $18,000 plus an additional $6,000 for those 50 or older
NOTE: These amounts cannot exceed earned income and may be limited by top-heavy or other plan rules.
For 2017 - $127,200
For 2018 - $128,400
An Enrolled Agent (EA) is a federally-authorized tax practitioner who has technical expertise in the field of taxation and who is empowered by the U.S. Department of the Treasury to represent taxpayers before all administrative levels of the Internal Revenue Service and state tax agencies for audits, collections, and appeals.
REMINDERS FOR TAX SEASON
As you begin to gather and prepare year-end tax information please keep the below points in mind:
In order for us to efficiently prepare your tax returns please make sure to submit all of your tax documents together (e.g. W-2s, 1099s of all types, 1098s for mortgage interest, and 1098-T for college tuition paid).
Online financial services companies such as Ameritrade and E*trade do not issue paper 1099s. When gathering your year-end tax documents make sure to print out your 1099s from your online account. Also, print your statement of gains and losses when you access your account. both of these documents are necessary for us to prepare your tax returns.
If you sold any securities (e.g. stocks, mutual funds, etc.) during the year and the year-end statement or tax documents provided by your broker do not include the cost basis of the securities please provide the cost of the securities when purchased when you submit your tax materials to us. If you are unable to obtain that information please contact us for guidance.
For those operating a business or real estate activity be sure to let us know early in January if you would like us to assist you in the issuance of Forms 1099. These forms are required to be prepared for all service contractors paid in excess of $600 during the calendar year.
Charitable contributions must have a receipt or cancelled check to be deductible. Contributions over $250 must also have a letter of acknowledgement from the charity, and additional documentation is required when your total non-cash contributions exceed $500 for the year. We require our clients to attest to understanding these documentation rules and to having the associated records. For your convenience, we have included a worksheet to track charitable contributions and a valuation guide for donated property under Useful Forms and Tools (see above section).
December 31 - Deadline for establishment of 401(k) and other qualified retirement plans for 2019
January 15 - Due date for fourth quarter 2018 estimated tax payments
January 31 - Final date for mailing forms 1099 and W-2 to recipients
January 31 - Final due date for forms 1099-MISC and W-2 to the IRS
March 15 - Due date for Partnership and S Corporation (calendar year) tax returns
April 10 - Final due date for second property tax installment payment
April 15 - FBAR filing deadline (6-month automatic extension to Oct 15)
April 17 - Due date for Individual, C Corporation and Fiduciary (calendar year) tax returns
January 15 - Tax organizers sent out
January 22 - Deadline for submitting documentation to AFG if we are preparing 1099s on your behalf
February 26 - Deadline for submitting information for Partnership and S Corporation (calendar year) tax returns
March 19 - Deadline for submitting information for Individual, C Corporation and Fiduciary (calendar year) tax returns
April 6 - Deadline for requesting an extension for your Individual tax returns