Since we have moved to a remote only service, unfortunately in-person appointments will be limited to mostly Zoom and phone call meetings. Please call ahead to request a more personalized meeting to discuss your unique tax questions and for planning.
In the meantime, we’ll be accepting tax documents via our client portal or via US mail. Call for your link today for the portal or send your documents to: PO Box 157, Chalfont, PA 18914-0157.
Copies of Tax Returns
Upon completion of your return, everyone receives a paper copy or a PDF copy as part of our service. Electronic versions may be ordered and purchased before completion of the returns (CD or Flash with scanned documents). Refer to our Client Tax Questionnaire for current options and prices. If you want a copy later, a minimum $40 fee per year per copy, per year, regardless of format, may be charged. Plan ahead for upcoming refinancing and home purchases.
What to Provide...
Please include ALL records of income with your tax documents EVEN IF YOU THINK IT'S NOT TAXABLE! The IRS is doing a more thorough job of matching Schedule D (stock transactions) and 1099 (dividends & interest) than ever before; sometimes with surprising results for taxpayers. We will help you to determine if the items need to be reported or not.
Also, please remember to fill out our questionnaires and signature forms every year because they are painstakingly updated yearly to ensure that you are getting all the deductions that you deserve. Use additional paper if you need more room to ask questions or provide more details.
Quick Notes!
HELPFUL LOGS: We have several log books available for your use, just ask!
SECURE LINKS, CLIENT PORTAL: As an extra measure of security, give our office a call BEFORE e-mailing those confidential tax records and we’ll e-mail you a secure link to use. Super easy and convenient!
A Little Reminder about Electronic Files…
We love technology as much as anyone, however please remember when sharing your electronic documents that we require your scanned files to be in pdf format and your Word and Excel documents must be compatible with Microsoft windows. We will not download additional software to read your data. NO CELLPHONE PICTURES PLEASE!
We prefer that your e-mailed documents are sent via secure link to protect your privacy. Contact our office to find out how. You can also use the US Mail if you’d rather.
Missing Information
A major reason for the delay of processing your returns is that something is missing and we are unable to file a complete return. If you deliver any information to us after March 7, it is likely that you will receive an extension to October 15. The later your information arrives, the more likely you are to receive an extension. We will make every attempt to complete your returns, but be aware that your tardiness puts you further back in the line.
We accept your documents by portal and by US mail, or in some cases over the phone. Please ask for a secure link when e-mailing confidential information to us.
If you are sharing your documents in electronic formats, please provide your files in standard pdf, Microsoft Word or Excel format because we are unable to install additional software to read your files. If possible, please avoid sending cellphone pictures as they are not always clear or easy for us to download.
Please try to deliver all of your missing information to us at the same time and let us know that you have finished uploading all your required documents to our portal.
Reminder: Retirement Rules, Simplified
The Required Minimum Distributions age changed to 73 on Jan 1, 2023 (it was 72 in years after 202o) and will be increased to age 75 in 2033.
The catch-up amount taxpayers may contribute to their IRAs is now indexed for inflation.
Starting in 2024, subject to limitations, unused funds from 529 plans may be rolled over into a Roth IRA.
There is now special tax treatment available for a variety of reasons to withdraw funds from your retirement accounts (some don’t start until future years). Retirement funds withdrawn for a disaster or terminal illness are among the special situations sited in these new rules.
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Born before July 1, 1949 — RMD starts at age 70 1/2
Born July 1, 1949 - December 31, 1950 — RMD starts at age 72
Born 1951 - 1959 — RMD starts at age 73
Born 1960 or later — RMD starts at age 75
Job Transfer? Moved to a New State?
Did you have a job transfer to another state? Remember to check your paychecks to be sure that the correct state and local taxes are being withheld from your pay. If not, immediately contact your payroll department to avoid major headaches at tax time!
Foreign Bank and Financial Accounts (FBAR)
As a reminder for taxpayers who have foreign bank accounts or signing authorization on foreign accounts, FBARs must now be electronically filed with the Treasury Department on FinCEN Form 114. Visit fincen.gov to file yours today; regretfully, we are no longer able to file these forms for you. The due date for these forms is April 15, 2026. An automatic 6-month extension to October 15 is granted to all taxpayers if you file your FBAR by April 15.
Don't Forget to Provide Stock Basis!
Not all purchase information for assets sold is provided on the your 1099-B forms because the brokerage firms were only required to keep track for assets purchased starting in 2011. It is your responsibility to provide the purchase price and original cost of stocks, real estate and any other assets you sold by searching your records or asking your broker. A fee will be charged if you want us to compute the basis for you. THE IRS WILL ALWAYS ASSUME THAT THE BASIS IS ZERO IF YOU CANNOT PROVE OTHERWISE. Therefore, if you don't provide the basis we will take the IRS stand on this and also use zero which may result in a higher tax.
$30 off Tax Prep for Early Birds!
If we receive all of your tax information by February 4, 2026, we will reduce your tax-preparation fee by $30. All records and documents, including W-2s and 1099s, must be in our hands by February 4.
Business Deductions
The IRS will not allow deductions for computers, cars, and other items for which records and logs are incomplete. The IRS is required to disallow these expenses without proper substantiation. We have various logs available upon request for your use.
With the passage of The 2018 Tax Cut Act, business deductions for employees of companies were no longer permitted. This has been made permanent as of the 2025 OBBBA. If you are being reimbursed by your employer for business expenses incurred, you should ask them to offer you an accountable plan and have them reimburse you directly. Some of these business expenses are deductible in certain states, including Pennsylvania, so you should still keep track of your union dues, required uniforms, safety equipment and other items that are not reimbursed from your employer because they may be deductible by your state..
Year-round Help Available
We are available all year to answer your tax questions. However, we may charge for inquiries requiring 15 minutes or more, or involving computations. Fees will be based primarily on the time devoted to the assignment, including conferences, phone calls, factual investigations and analysis, research, document preparation and other services rendered on your behalf. Sue's hourly rate is $300, subject to change.
Attn: Anyone Receiving Third-Party Payments
Just a reminder, it has always been true that you must report all worldwide income on your tax returns. The tax reporting form 1099-K has been around since 2008 which requires all credit card companies and third-party processors like Amazon and PayPal to report sales to the IRS. This was issued to anyone who’s sales volume was over $20,000 and more than 200 transactions.
Regular folks using any third party payment processors from Visa to Venmo may receive a 1099-K. The reporting requirements keep going back and forth in Congress, so it’s possible you may receive a 1099-K for that DoorDash job you have on the side. Again, all money that you receive from your customers is income subject to tax, regardless of whether it is reported on a 1099 or not.
Taxpayers should be aware that they could still receive 1099-K forms. If you did receive a 1099-K for 2024, we may need to deal with it on the tax return, so include it with your paperwork!
Virtual "Crypto" Currency Craze
As a reminder, all worldwide income is taxable in the US, including income from virtual currency.
Virtual currency is a digital representation of value. Issued by private parties, such as a group of developers or organizations, digital currency is intended only for online use only because they do not have a physical incarnation like paper money. Examples of virtual currency are Bitcoin, Ethereum and Litecoin. Many cryptocurrencies are widely available on online cryptocurrency exchanges, such as Coinbase or Gemini.
Everyone must answer the question on the front of the 1040 return whether they received, sold, exchanged or disposed of virtual currency during the year. Transactions include: receipt or transfer of virtual currency for free; exchange of virtual currency for goods or services; a sale of virtual currency; an exchange of virtual currency for other property (including another virtual currency); a disposition of financial interest in virtual currency.
There are some places where virtual currency operates as “real” currency, but in the US, it does not have legal tender status. Cryptocurrency exchanges do not issue tax forms. Therefore, taxpayers should obtain their transaction history reports for cryptocurrency investment accounts held in cryptocurrency exchanges to determine if there are taxable transactions to report. In the US, virtual currency is treated as property, like gold or stocks. The US will start to require more reporting for virtual currency in 2025. As virtual currency continues to become more popular, expect US tax laws that apply to it to be subject to change and/or reinterpretation.
Identity Check - We’re looking at you: New York workers & residents
… and some other folks, too: the IRS is collecting driver’s license data to verify identity and many states are requiring driver’s licenses to e-file state returns. This is mandatory in: Alabama, New Mexico, New York, Ohio and Vermont and Ohio. This is optional in New Jersey and Pennsylvania. Be sure to provide these details on our questionnaire if you wish to add this extra layer of security to your e-filed tax returns. Filing a joint return with your spouse who worked in New York? We’ll need your driver’s license also!
Where is My 1095 Form?
The health insurance mandate penalty was reduced to zero with the 2018 Tax Act and you no longer have to prove that you had health insurance for the year on your federal tax return. However, if you received the premium credit issued through the marketplace or exchange, you are required to file a tax return. The premium credit is reconciled on your tax return to determine if you indeed are eligible to receive the credit. The credit is based on your income and some complicated calculations to determine how much credit, if any, you may be entitled to.
If you were covered by health insurance at any time last year, you will receive at least one of the following forms:
1095-A - issued to people who purchased insurance through the government exchange.
1095-B - issued to people covered by Medicare or who purchased a policy directly from an insurance company, rather than through an exchange.
1095-C - issued to people who were covered by a plan through their employers.
If you or any of your dependents received health care coverage through the marketplace at any time last year, please remember to include your 1095-A with your tax documents because you may need to file a tax return.
These 1095 forms are required to be sent to consumers by January 31.
Some states, like Massachusetts, do require health insurance coverage so you may need to include certain information with your tax documents in order to complete your state returns as well.
Late Arriving K-1 Forms
One of the most common pieces of late-arriving information that our clients receive is a K-1 form. We understand that they are often delayed and received well past our March 8 deadline. Many K-1 forms add complexity to the tax return and require extra effort to analyze and input. It is our policy that we will automatically file an extension for any client who receives a K-1 after March 31. We will inform you of any balance due that must be paid by April 15th. We will not "guess" as to what information will be reported on the K-1 and will not file a tax return until we have received an official K-1 form.
Before We Can File Your Return...
Your tax-preparation fee must be paid in full before we will file your tax returns, unless other arrangements are made with us. We also must have your signed Form 8879 before we can e-file; this includes your dependent's Form 8879s if they are required to file.Federal and state (if required) forms 8879 will be provided to you once your return has been completed. We also require your signature on our engagement letter. If we do not receive your payment or signature(s) by April 15th, we will file an extension to October 15th. Any tax owed must be paid by April 15th.
Reviewing Self-Prepared Tax Returns
As a matter of policy, we do not review or offer opinions on self-prepared tax returns. We do not use Turbo Tax or other off-the-shelf software, and, therefore, would have to recreate your work by hand. Instead, you should provide us with the actual tax documents, logs, spreadsheets and/or figures that you used to generate your sample returns instead of the worksheets and tax forms that you created on your own software.