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Accounting Income Tax Preparation Tax Uncategorized

Wedded Bliss = Tax Hell?

A new life partner entails a whole lot more than extra dishes and super-sized loads of laundry. Whatever your marital status as of December 31st, 2017, will determine your tax options for the entire previous year. After hearing those wedding bells, you’ve got two options: file jointly with the new Mr. or Mrs. or use married filing separate status for a separate return based on deductions and credits.

Most lovebirds file their taxes jointly for two main reasons–first, it’s a heck of a lot easier to file one 1040 form and second, it’s usually cheaper to file together as married filing separate status can negate valuable tax breaks for things like childcare and tuition. You need to know about casino ohne bonus. Two individual returns could add up to a larger sum than one joint return.

There are drawbacks to filing jointly–if your loved one was up to no good as in underpayments, penalties and owed interest, it may behoove you to not take on potential liability and to file separately.

But, if your spouse isn’t on the IRS Most Wanted list, there are many tax benefits to being married. Here are 3 that you may not have considered.

  1. A Married Duo Reaps Greater Charitable Contribution Deductions– having a spouse raises the limit on yearly charitable donation amounts.
  2. Buying a House Changes your Taxes– the interest paid on a mortgage is tax-deductible.
  3. Children are Tax Gold– with every child comes more exemptions and tax credits! Bring on diaper duty.

For more information on penalties and bonuses with regards to being married, check out the tax policy information HERE.

To figure out your tax benefits and deductions for 2017, contact us today for more information. We provide Northern Colorado, Boulder County and the whole Front Range exemplary tax services.

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Accounting Income Tax Preparation Tax

Ditch the Dread! Tax Time Help is Here

Many people rely on outsourcing these days to enhance productivity. Whether you’ve hired a maid service, lawn care company or tech troubleshooter to ease stress and tackle tasks you’ve got no time to manage or not enough know-how, there’s always good reasons behind delegating work away. Get more information about online casino mit oder ohne bonus. At Gebauer and Company, we’re here to ease the burdens of tax time. We often see clients who have lost money by taking their returns to other outlets, only to be left disappointed or defeated. We are diligent about reviewing clients financial statements, past returns and taking into account life changes like marriage and retirement.

We are a family owned and operated team of two certified public accountants with backgrounds in business and finance. We specialize in helping people during the most busy and stressful time of year. If you’re scrambling this tax season to prepare your return, worry not, our CPAs can tackle the most challenging and complicated cases. Whether you’re self-employed, own a business with employees or just need a personal tax return filed, we’re here to help.We service Erie, Longmont, Boulder, Lafayette, Louisville, Fort Collins, Colorado and the surrounding areas. We offer free consultations.

Contact us ASAP!

 

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Accounting Income Tax Preparation Tax

Tax Time is Near in Longmont: Helpful Hints to Survive April 18th 2016

With tax time fast approaching, now is the time for many people to panic or scramble to file their taxes on time. As the old saying goes, you can always count on two things in life: death and taxes.

Over the years, our Longmont tax team has learned a few valuable lessons. Here are some of our favorite tax time helpful hints:

1. Don’t Wait Until the Last Minute
Postponing a plan for your tax situation will only add stress and distress down the line. Don’t fret if you’ve stalled or procrastinated on prepping your financial statements, receipts and transactions. At Gebauer and Company, our helpful CPA team can get you on the right track.

2. Shortcuts are Silly
Hiring a friend or long lost relative with some “loose” tax experience might seem like a great idea as well as a way to save money, in truth, qualified tax preparers won’t make mistakes that can cost serious scratch. Hiring CPAs will behoove your financial future and your peace of mind.

3. Self-Employed Take Note
The self-employed often miss insurance write offs, home office deductions and travel expenses. If you’re self-employed, it’s highly beneficial to hire a qualifed CPA to advise on your tax situation.

Our qualified accountants will help you wade through tax time with ease.

Contact Us Today!

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Accounting Income Tax Preparation Tax

Married Couples: Reasons Why You Might File Taxes Separately

While the vast majority, nearly 95% of married couples file a joint tax return, there are a few good reasons why this isn’t always the best option. While it may be cheaper to file together, splitting up returns might be a more prudent strategy. Here are a few times when it could behoove you and your spouse to file tax returns separately.

#1.) Income-Based Student Loan Payments

#2.) Major Medical Expenses

#3.) IRS-owing Marital Partner

#4.) High Earning Spouse

#5.) Residence in a Non-Community Property State

At Gebauer and Company in Longmont, Colorado we can advise you on the best way to file your tax return, whether as a unit or separately. Our qualified CPAs are here to help you save money and achieve the most prosperous financial state possible. Our accounting professionals will make sure your tax returns are filed with your future in mind.

Please feel free to contact us to setup a time for a free consultation.

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Accounting Business Income Tax Preparation Tax

Tax Changes You Must Know for 2016 in Longmont, Colorado

Planning on filing your taxes this year the same way as you did in 2015? Not so fast. If you’re busy preparing your tax return for 2016 and planning on replicating or echoing last year’s tax return exactly, you’ll find a few problems with this strategy.

Congress has made a few changes and those could affect your taxes this year.

One major tax change this year? In 2016, tax payers will have an additional 3 days to file their taxes as April 15th falls on Emancipation Day. Taxpayers can breathe a sigh of relief as they have an extra three days to file. The new deadline? April 18th.

Other changes that might impact your taxes in 2016?
*The Penalty for Not Having Health Insurance Has Gone Up
*Personal Exemptions Have Risen
*A Few Temporary Tax Breaks Have Become Permanent
*The Tax Benefit for Cancellation of Debt on a Primary Residence Has Been Extended

In addition, any personal changes such as marriage, divorce, buying a new home, having a child or a death can ultimately change your taxes. Any lifestyle change can affect your tax situation. We’re here to help you with your unique tax challenges.

The best bet when it comes to managing your taxes? Hiring a professional! Our CPA team in Longmont, Colorado realizes your time is valuable and so is your money. Why make yourself vulnerable to an IRS audit? We can ensure that your taxes are filed properly and timely. By hiring a professional, you’ll know if your eligible for deductions or credits. Tax guidance can make all the difference.

Our accounting team in Longmont is here to guide you! Contact us ASAP!

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Accounting Income Tax Preparation Tax

Seeking New Clients Just in Time for Tax Season 2016

At A.F. and Gebauer and Company, we’re always excited about meeting new potential clients and helping them wade through their tax questions and queries. We specialize in businesses and personal tax returns and are also able to help with property taxes, bookkeeping, payroll and financial and retirement planning. We serve Boulder, Weld and Adams County residents. Enjoy yourself with willkommensbonus online justspin casino. If you’re in Niwot, Erie, Mead, Fort Collins, Brighton, Longmont, Louisville or Boulder and you’re in need of tax services or a tax preparer, we’re here to help!

If you’re concerned about filing your taxes this year, let us do the work for you! An accountant can be a great asset to those who are self-employed, transitioning into retirement or those are just confused about how to file their taxes. We’re also specialists in finding deductions and exemptions that may have otherwise gone unnoticed or unconsidered.

Contact us today to enjoy a stress-free 2016 tax season! Contact Us HERE