Tax Filing and e-Organizer for 2003
1/19/2004
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With 2003 and the hustle and bustle of the holiday season behind us, we now have to think about one of our most important relatives, Uncle Sam.
And it’s always wise to get the prior year’s tax filing handled timely.
Why?
For starters, if it so happened that your tax withholdings or estimates were too much, you would only get the overpayments back from government agencies by filing the tax returns. Uncle Sam and his relatives in state government want to see the proof before opening their wallets.
Also keep in mind that you won’t earn any interest on the overpayments unless the government agencies delay any refund due to you beyond the law-required period.
Now, in case you owe taxes for 2003, you’d also be better off to get ready well before April 15 even if you want to hold your hard-earned money until the last minute. It’s no fun to find out about a large tax bill any time. And it’s only worse if it happens in April.
While we generally always put business owners in the “safe harbor” to avoid penalties, it does not prevent a tax bill when your income went up. (And good for you if after all the planning and “maneuvers”, you still need to write a check to Uncle Sam – you must have earned more in 2003 than that in 2002).
Either way, getting your prior year’s taxes taken care of early never hurts.
To assist you in fulfilling your “citizen’s duty” smoothly, we have gone paperless this year (after last year’s pilot testing). Instead of sending a hard copy of the “Tax Organizer”, we are sending e-Organizers via email to our clients by the end of this week to gather 2003’s tax related data.
As some of you have known from last year’s experience, e-Organizer is very neat and efficient. It saves everyone’s time, postage, related hassles, and it’s very safe. For those clients that still prefer the traditional way, please call us and let us know.
For any new clients (and those doing your own filing but want to see what our Tax Organizer looks like), please send your email address to us and we will send you an organizer.
Happy Tax Filing!
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