Call Us 24/7

480-372-2543

Send Us Mail

theresa@conciergeacct.com

Blog

Tax Season – Preparation is key.

2019 has officially begun and that means filing season is upon is. I get asked all the time how can I prepare for tax season, how do I get organized, what should I do? Well, let me tell you, it is easy. No need to stress or be overwhelmed, we are here to help. Here are the top five things you can do to have a seamless, stress free tax filing season:

1 – Get the help of a professional

  • Did you know there are more words in the IRS tax code than the Bible? Over 74% of tax returns prepared by a non-tax preparer or CPA contain errors and lost tax deductions. Don’t try to conquer this alone. Get a trusted advisor that will explain the tax process to you, file a complete and accurate return, go over a preliminary draft return with you, and educate you on your current tax situation and potential tax savings opportunities.

2 – Get organized early

  • Since 2018 just ended now is the perfect time to get everything organized for your taxes. Don’t put it off and wait. It is fresh in your mind and should be easily accessible.
  • Create a filing system that works for you. I tell my clients if it works for you, it works for me.
  • At a minimum create a master tax folder. If you have a business, create a folder for that entity too.
  • Go through your bank statements, credit card statements and receipts. If you think it applies put it in the folder. It’s not your job to determine if it is a tax write off, its mine. When in doubt, put it in the file.

3 – Document, document, document

  • The key to all taxes is in the details and in the IRS eyes if it isn’t documented it doesn’t exist. Also, retain all documents for seven years in either an electronic or hard copy format. Documents have to be readily available and produced if ever questioned by the IRS.

2 – Use the past as a guide for this year’s return

  • When compiling all your tax documents be sure to review your prior year’s tax return as a guide. It will remind you of key items such as income and deductions that may have slipped your mind.
  • Remember to tell your CPA or tax advisor about any new items that happened over the year. This includes changes in filing status, address changes, dependents, jobs, income, retirement, losses, etc.
  • You can also ask your CPA or tax preparer for a client organizer. This is visual reminder in a template form of all forms of income, deductions and credits that may apply to your personal tax situation.

3 – Don’t forget about Itemized deductions

  • Even if you think you won’t be able to take advantage of an itemized deduction due to increased standard deduction limits in 2018 remember to provide all Schedule A items (medical, state and local taxes including property taxes, vehicle registration, state withholding, mortgage interest statements and charitable contributions). Even though you may only qualify for a standard deduction at the federal level you may be able to itemize at the State level.

My firm and team are always here to answer any questions, guide you and assist you in the tax filing process. Our goal is to take the stress out of tax filing and make it easy and seamless for you.

If I may be of assistance, please do not hesitate to contact me.

Please call or email us for more information and questions.

Leave a Reply

Your email address will not be published. Required fields are marked *

Jocelyn Sihathep (Jo1)

Office Manager

We have a Sun Devil in the house! We are honored to add to our team, Jo. She is a graduate of Arizona State University (Fear the Fork) and is looking to broaden her knowledge and understanding of business and accounting.

She is the engine of our fine-tuned machine. Her “can do” attitude, commitment to customer service and outstanding organization skills allows us to focus on what matters most, our clients. She is amazing with technology and strives for excellence. She embraces the entrepreneurial spirit and is a great asset to our team.

Jocelyn Weatherley (Jo2)

Accountant

Jo was previously an accountant for a $60M company and their 13 subsidiaries. She is in charge of our accounting and bookkeeping department and serves our clients on their time schedule. Whether it is weekly, monthly or quarterly she helps provide reliable, useful and accurate information to our clients on their terms.

Jo performs full accrual accounting and is responsible for reconciling all accounts, journal entries, month end closing procedures and preparation of internal financial statements and analytics. She also assists in the preparation of sales and payroll tax returns. She holds a wide range of knowledge, from QuickBooks to travel (she spent most of her life in the UK), she’s your girl. She is excited to join the CCA team and ready to conquer tax season head on!

Dixie Cary

CPA and Tax Manager

Dixie is a Minnesota CPA and experienced accountant. She has over 25 years of accounting in both audit and tax, but her passion is tax. After years in the cold, she decided to leave the mid west and find a new home in Sunny Arizona. We are so happy that Dixie has joined our team.

Dixie leads and manages our entire tax department. She assists and leads a team through our busiest times while delivering quality, complete and accurate tax services for our clients. She is proficient in preparation, planning, and education of federal and state income taxes for individuals, businesses, estates, trusts, and exempt organizations.

Theresa Elaine Valade

CPA and Managing Partner
Theresa has over 27 years of experience in tax, audit and consulting. She was with the International CPA Firm of Arthur Anderson in Phoenix and San Francisco. She most recently was a partner with Moffitt & Company, P.C. Her areas of specialization are business consulting and advisory, audits, income tax planning and preparation, and IRS audit representation. Her industries of specialization are nonprofits, real estate, hospitality, franchises, mortgage banking and brokering, title insurance, escrow, health, and beauty.
One of Theresa’s biggest honors is being named the 2020 CPA firm of the year for her commitment and service to her clients during the challenges imposed by the COVID-19 pandemic. Putting passion and personalization at the forefront Theresa has led her firm to excellence by not only providing measurable results for clients but making them feel well taken care of during times of great uncertainty.
Theresa is also a member of the prestigious, Arizona Society of CPAs, ASCPA, 100% Membership Club. It is an honor to be part of this club that exhibit’s a high level of commitment to the Arizona Society of CPAs. We are privileged to be able to convey to our clients, staff, and colleagues of Theresa’s significant commitment to the CPA profession.