StrataTax

Tax Deductions for Landlords

StrataTax — Fri, 01 Mar 2013 23:15:52 +0000

One of the biggest advantages of personally owning a residential rental property is the tax benefits that they offer. Rental real estate properties provide more tax benefits than almost any other investment. These tax benefits are often large enough to make the difference between losing money and earning a profit on a rental property. Here [...]

StrataTax

Get the Most Out Of Your Meeting with a Tax Professional

StrataTax — Sun, 24 Feb 2013 23:09:53 +0000

Get the Most Out Of Your Meeting with a Tax Professional

Get the most out of your meeting with a tax professional by following these easy tips. For tax preparation, schedule your tax appointment for early in tax season. Tax professionals usually have more time to spend with clients early in tax season. Towards the end of tax season, their free time may be scarce. If [...]

StrataTax

What to Look For In a Tax Preparer

StrataTax — Sun, 17 Feb 2013 23:05:55 +0000

What to Look For In a Tax Preparer

The title or designation of a tax preparer isn’t the only qualification you should consider when searching for a new tax preparer. When hiring a new tax preparer, look at more than just the letters after his name. A tax preparer’s technical ability with the tax law and compatibility with your personality are important qualities [...]

StrataTax

Steps Newlyweds Should Take Now to Ease Stress at Tax Time

StrataTax — Tue, 29 Jan 2013 02:14:15 +0000

Steps Newlyweds Should Take Now to Ease Stress at Tax Time

If you are newly married or planning a wedding, income taxes might be the last thing on your mind. However, here are a few steps for newlyweds to help reduce stress at tax time. Change Your Name and Address If you change your name, report the name change to the Social Security Administration. This is [...]

StrataTax

How Do I Treat My Other Sources of Income?

StrataTax — Fri, 11 Jan 2013 17:50:21 +0000

How Do I Treat My Other Sources of Income?

Are you supplementing your regular income with other sources of income? If so, familiarize yourself with the special treatment and reporting methods of these forms of compensation to stay in compliance with tax laws. A tax preparer, such as StrataTax, can educate you on the various sources of taxable income. A tax preparer can also [...]

StrataTax

Tax Services Your Tax Professional Should Be Providing To You

StrataTax — Tue, 27 Nov 2012 02:57:37 +0000

Tax Services Your Tax Professional Should Be Providing To You

Tax preparation involves more than just data entry. The level of complexity of your tax return largely dictates the extent of tax services that will be required for your tax return. However, there are certain tax services that your tax preparer should be providing regardless of your tax situation. Even if you don’t have an [...]

StrataTax

Tax Tips: How to Find a Qualified Tax Preparer

StrataTax — Tue, 27 Nov 2012 02:32:17 +0000

Tax Tips: How to Find a Qualified Tax Preparer

Finding a tax preparer can be as easy as asking a friend. However, finding a qualified tax preparer can prove to be more challenging. Find Your Tax Preparer What works best for your friends might not work best for you. For example, if you own a business and your friend doesn’t, his tax professional might [...]

StrataTax

Find a Tax Preparer That Meets Your Needs

StrataTax — Tue, 27 Nov 2012 02:11:34 +0000

Find a Tax Preparer That Meets Your Needs

With tax season approaching, now is the time to ensure that you have the proper tax professional lined up to prepare your tax return. Find the proper tax preparer by understanding why you should switch and what to look for in the new tax preparer. Why Change? If your tax situation became more complicated, such [...]

StrataTax

Interest and Penalties Related to Amended Tax Returns

StrataTax — Wed, 30 May 2012 20:41:23 +0000

Interest and Penalties Related to Amended Tax Returns

By paying your taxes due and preparing your return with due diligence, you minimize the chances that interest and/or penalties will be asserted. Consulting with a tax preparer prior to filing your Form 1040X can provide you with information about correctly preparing your amended tax return. Interest will be charged on taxes due that [...]

StrataTax

Amended Income Tax Returns and the Statute of Limitations

StrataTax — Mon, 28 May 2012 08:15:43 +0000

Amended Income Tax Returns and the Statute of Limitations

Generally, the IRS has three years to audit a tax return, as we discussed in our previous article “Time Limit for Filing an Amended Income Tax Return”. Filing an amended tax return does not restart that three-year statute of limitations. If your amended tax return shows an increase in tax, and you submit the [...]

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