Denver Tax Preparation: Man Versus Machine
Tax filing season is right around the corner and with it comes one of the questions many individuals face without realizing all of the potential impacts of their decision. No, it doesn’t have anything to do with their income, filing status, withholdings, or any other income issue - this answer is evident before even the first tax or demographic related question is asked. Will you file your own taxes attempting to use a computer program or trust the trained professionals?
Nearly 250 million tax returns were filed last year and each is reviewed by the Internal Revenue Service (IRS) for potential errors. If any mistakes are found - intentional, egregious, simple, or otherwise - then taxpayers can expect notification about the need for a correction. This may be in the form of paying more money, an amended return, or penalties and interest but any red flags raised with the IRS is never good. While picking up computer software may seem quick and easy, the results can be extremely costly.
Initial Appearance
At first glance being able to complete a tax return within the comforts of your own home and pace seems like a reasonable idea. Click a few answers, enter a few details, and voila - out comes a complete tax return electronically filed with all appropriate parties.
Reality
But was it? Just an answer or two into the program and you’ll realize why tax professionals are worth the investment. Forget about second-guessing and hoping that the IRS doesn’t come calling because you selected the wrong box and simply trust the trained professionals over personal preferences and guesswork.
Cost
That program in a box may initially appear to be less expensive but is it truly all you will have to pay. In addition, do you know the ever changing tax laws and opportunities to withhold? Chances are by filing taxes yourself the opportunities for deductions and potential refunds will be missed. Not only does this cost you money when filing but errors could ultimately break the bank if you’re not careful.
Changes
Did you get a new job last year? Have a kid? Get married? What about stimulus money? There are plenty of changes which could impact your tax return from one year to the next. While some who have relied on a computer program in the past may simply feel the need to continue, reality is even the slightest change to your personal situation will impact a return.
If you’re ready to file a return and realize the importance of having an expert assist, then let the tax professionals at Bloch Rothman and Associates help you today. In addition to providing answers to all of your questions, they can also take care of multiple other issues dealing with paying or owing back taxes, required audits signaled by either the IRS or an outside agency, or any other personal or corporate wealth management issues. Along with providing a quality tax service, our group can also complete all types of returns or answer any other factors associated with financial issues or concerns you may have.
Serving Denver and all of the surrounding areas for 35 years, our firm has an extensive history in helping clients with any and all of their tax issues or dealings with the Internal Revenue Service. If you have questions about your personal, business, estate, or any other filings, don’t hesitate to contact us today. Available for all of your tax needs, there are also a number of bookkeeping and payroll services offered to assist you and your business. We look forward to meeting you and providing the type of service you can rely on whatever your needs may be very soon!
Read More...
Nearly 250 million tax returns were filed last year and each is reviewed by the Internal Revenue Service (IRS) for potential errors. If any mistakes are found - intentional, egregious, simple, or otherwise - then taxpayers can expect notification about the need for a correction. This may be in the form of paying more money, an amended return, or penalties and interest but any red flags raised with the IRS is never good. While picking up computer software may seem quick and easy, the results can be extremely costly.
Initial Appearance
At first glance being able to complete a tax return within the comforts of your own home and pace seems like a reasonable idea. Click a few answers, enter a few details, and voila - out comes a complete tax return electronically filed with all appropriate parties.
Reality
But was it? Just an answer or two into the program and you’ll realize why tax professionals are worth the investment. Forget about second-guessing and hoping that the IRS doesn’t come calling because you selected the wrong box and simply trust the trained professionals over personal preferences and guesswork.
Cost
That program in a box may initially appear to be less expensive but is it truly all you will have to pay. In addition, do you know the ever changing tax laws and opportunities to withhold? Chances are by filing taxes yourself the opportunities for deductions and potential refunds will be missed. Not only does this cost you money when filing but errors could ultimately break the bank if you’re not careful.
Changes
Did you get a new job last year? Have a kid? Get married? What about stimulus money? There are plenty of changes which could impact your tax return from one year to the next. While some who have relied on a computer program in the past may simply feel the need to continue, reality is even the slightest change to your personal situation will impact a return.
If you’re ready to file a return and realize the importance of having an expert assist, then let the tax professionals at Bloch Rothman and Associates help you today. In addition to providing answers to all of your questions, they can also take care of multiple other issues dealing with paying or owing back taxes, required audits signaled by either the IRS or an outside agency, or any other personal or corporate wealth management issues. Along with providing a quality tax service, our group can also complete all types of returns or answer any other factors associated with financial issues or concerns you may have.
Serving Denver and all of the surrounding areas for 35 years, our firm has an extensive history in helping clients with any and all of their tax issues or dealings with the Internal Revenue Service. If you have questions about your personal, business, estate, or any other filings, don’t hesitate to contact us today. Available for all of your tax needs, there are also a number of bookkeeping and payroll services offered to assist you and your business. We look forward to meeting you and providing the type of service you can rely on whatever your needs may be very soon!
Denver Business Accounting Actions To Take
March 24, 2022
Starting a business may be a risky adventure but the end results can be extremely rewarding. Whether you have a product that takes off, are offering a quality service, or selling goods, getting your business off the ground and running takes a lot of work. Fortunately, for all financial aspects, utilizing the services of an accountant can ensure that you are taking the proper steps in order to be successful.
There are a number of reasons businesses fail and many are due to some type of financial issue. Be it a lack of income, too many expenditures, growth issues, or salary problems, knowing that you have someone in your corner managing these aspects and offering advice is critical to success. Following are three actions accountants can assist with and three more personal practices that will help make your business a success.
Accountant Examination
An accountant can examine business practices and offer advice to keep all fiscal responsibilities in line. Managing cash flow and helping to create a budget are both services trusted to an accountant while leaving time for you to manage the day-to-day business operations.
Accountant Analysis
Balance sheets, profit and loss reports, accountant details, there are a number of differing analysis accountants can perform in order to keep your business in the best shape possible. Creating the structure for quarterly, bi-annual, annual, or even monthly reports aids in ensuring everything remains on track.
Accountant Reporting
Accountants can also assist with all forms (literally) of required reporting. From filing federal taxes to completing paperwork with the state government, an accountant's ability to track and report your legal obligations can really take a load off an owner’s list of operations.Â
Personal Organization
To assist in helping your accountant, personal organization is extremely important. An accountant will have tips but daily record keeping and organization of important figures is likely to be a responsibility of the business owner.
Personal Documentation
All of the documents needing to be organized will also likely be kept for accounting purposes. The accountant can offer advice on what records will be needed, but ensuring each is kept accessible becomes the responsibility of business owners.
Personal Separation
Keeping your personal and business expenditures separate is key to record keeping and reporting. Accountants can aid in helping individuals understand these differences and how to effectively manage their finances with the best practices possible.
If ready to put your business on the financial path to success, then let the tax professionals at Bloch Rothman and Associates assist you today. In addition to providing answers to financial questions, they can also take care of multiple other issues dealing with paying or owing back taxes, required audits signaled by either the IRS or an outside agency, or any other personal or corporate wealth management issues. Along with providing a quality tax service, our group can also complete all types of returns or answer any other factors associated with financial issues or concerns you may have.
Serving Denver and all of the surrounding areas for 35 years, our firm has an extensive history in helping clients with any and all of their tax issues or dealings with the Internal Revenue Service. If you have questions about your personal, business, estate, or any other filings, don’t hesitate to contact us today. Available for all of your tax needs, there are also a number of bookkeeping and payroll services offered to assist you and your business. We look forward to meeting you and providing the type of service you can rely on whatever your needs may be very soon!
Read More...
There are a number of reasons businesses fail and many are due to some type of financial issue. Be it a lack of income, too many expenditures, growth issues, or salary problems, knowing that you have someone in your corner managing these aspects and offering advice is critical to success. Following are three actions accountants can assist with and three more personal practices that will help make your business a success.
Accountant Examination
An accountant can examine business practices and offer advice to keep all fiscal responsibilities in line. Managing cash flow and helping to create a budget are both services trusted to an accountant while leaving time for you to manage the day-to-day business operations.
Accountant Analysis
Balance sheets, profit and loss reports, accountant details, there are a number of differing analysis accountants can perform in order to keep your business in the best shape possible. Creating the structure for quarterly, bi-annual, annual, or even monthly reports aids in ensuring everything remains on track.
Accountant Reporting
Accountants can also assist with all forms (literally) of required reporting. From filing federal taxes to completing paperwork with the state government, an accountant's ability to track and report your legal obligations can really take a load off an owner’s list of operations.Â
Personal Organization
To assist in helping your accountant, personal organization is extremely important. An accountant will have tips but daily record keeping and organization of important figures is likely to be a responsibility of the business owner.
Personal Documentation
All of the documents needing to be organized will also likely be kept for accounting purposes. The accountant can offer advice on what records will be needed, but ensuring each is kept accessible becomes the responsibility of business owners.
Personal Separation
Keeping your personal and business expenditures separate is key to record keeping and reporting. Accountants can aid in helping individuals understand these differences and how to effectively manage their finances with the best practices possible.
If ready to put your business on the financial path to success, then let the tax professionals at Bloch Rothman and Associates assist you today. In addition to providing answers to financial questions, they can also take care of multiple other issues dealing with paying or owing back taxes, required audits signaled by either the IRS or an outside agency, or any other personal or corporate wealth management issues. Along with providing a quality tax service, our group can also complete all types of returns or answer any other factors associated with financial issues or concerns you may have.
Serving Denver and all of the surrounding areas for 35 years, our firm has an extensive history in helping clients with any and all of their tax issues or dealings with the Internal Revenue Service. If you have questions about your personal, business, estate, or any other filings, don’t hesitate to contact us today. Available for all of your tax needs, there are also a number of bookkeeping and payroll services offered to assist you and your business. We look forward to meeting you and providing the type of service you can rely on whatever your needs may be very soon!
Denver Tax Preparation Tips for 2022
March 7, 2022
As time begins on a new decade, it presents an awesome opportunity to focus on your financial goals. For many, the start of a new year often initiates personal reflection, also known as resolutions, that are attempted to be kept for at least the first few weeks of a new year. Instead, far too often, these ideas fall short as people tend to creep back into their previous habits and those things with which they feel more comfortable. This year, take advantage of a new opportunity and get things on track - starting with your money.
When the calendar turns to a new year, many of the tax forms you need to file taxes begin to appear. Whether the recipient of a W-2 form from your employer, 1099’s, or other contribution forms from other outlets, the paper trail from a year’s worth of money movement begins to trickle into a home. As the new year begins, there are a few tips to help with keeping these items straight as you prepare to file a return and work toward getting a firm grasp on the future of your finances.
Get Organized
One of the best offers of advice for anyone hoping to be better prepared for financial success or any other type in the new year is to get organized. Especially when dealing with financial situations, having all of your paperwork in order and readily available when attempting to file your taxes can help to ease the stress on a situation. If you have the appropriate paperwork ready then it can streamline the filing process and make for a more quality experience.
Estimated Tax Payments
If you are self employed or have to file estimated taxes, then making a final contribution can help to lower your taxable income for the preceding year. With the deadline for a fourth-quarter contribution coming in the following year but before the April 15 deadline, individuals still have time to make the most of their estimates.
Prepare To File
Typically the Internal Revenue Service (IRS) will begin accepting returns toward the end of January. Get ahead of the game by contacting your tax professional and ensuring you are on the schedule to get a return filed. Depending on the extent of your return, multiple trips could be needed in order to ensure a return is properly filed. Avoid any last minute headaches by planning ahead and getting your required return filed in a timely manner.
The tax and financial experts at Bloch Rothman and Associates are ready and willing to assist if you should need help preparing for the upcoming tax season. Whether you need help submitting an annual return, owe back taxes, or any other personal  or corporate wealth management issues, we are here and willing to help. In addition to providing a quality tax service, including navigating the intricacies of an audit, our group can also complete tax returns or answer any other factors associated with financial issues or concerns you may have. Serving in Denver and all of the surrounding areas for 35 years, our firm has an extensive history in helping clients with any and all of their tax issues or dealings with the Internal Revenue Service. If you have questions about your personal, business, estate, or any other filings, don’t hesitate to contact us today. Available for all of your tax filings and needs, there are also a number of bookkeeping and payroll services offered to assist you and your business. We look forward to meeting you and serving whatever your needs may be very soon!
Read More...
When the calendar turns to a new year, many of the tax forms you need to file taxes begin to appear. Whether the recipient of a W-2 form from your employer, 1099’s, or other contribution forms from other outlets, the paper trail from a year’s worth of money movement begins to trickle into a home. As the new year begins, there are a few tips to help with keeping these items straight as you prepare to file a return and work toward getting a firm grasp on the future of your finances.
Get Organized
One of the best offers of advice for anyone hoping to be better prepared for financial success or any other type in the new year is to get organized. Especially when dealing with financial situations, having all of your paperwork in order and readily available when attempting to file your taxes can help to ease the stress on a situation. If you have the appropriate paperwork ready then it can streamline the filing process and make for a more quality experience.
Estimated Tax Payments
If you are self employed or have to file estimated taxes, then making a final contribution can help to lower your taxable income for the preceding year. With the deadline for a fourth-quarter contribution coming in the following year but before the April 15 deadline, individuals still have time to make the most of their estimates.
Prepare To File
Typically the Internal Revenue Service (IRS) will begin accepting returns toward the end of January. Get ahead of the game by contacting your tax professional and ensuring you are on the schedule to get a return filed. Depending on the extent of your return, multiple trips could be needed in order to ensure a return is properly filed. Avoid any last minute headaches by planning ahead and getting your required return filed in a timely manner.
The tax and financial experts at Bloch Rothman and Associates are ready and willing to assist if you should need help preparing for the upcoming tax season. Whether you need help submitting an annual return, owe back taxes, or any other personal  or corporate wealth management issues, we are here and willing to help. In addition to providing a quality tax service, including navigating the intricacies of an audit, our group can also complete tax returns or answer any other factors associated with financial issues or concerns you may have. Serving in Denver and all of the surrounding areas for 35 years, our firm has an extensive history in helping clients with any and all of their tax issues or dealings with the Internal Revenue Service. If you have questions about your personal, business, estate, or any other filings, don’t hesitate to contact us today. Available for all of your tax filings and needs, there are also a number of bookkeeping and payroll services offered to assist you and your business. We look forward to meeting you and serving whatever your needs may be very soon!
Denver Tax Professionals Offer Assistance On IRS Notifications
March 4, 2022
Receiving any type of notification from the Internal Revenue Service (IRS) can be an uneasy feeling. Even if you regularly file taxes and are unaware of any errors, opening your mailbox and seeing an IRS return address can give anyone a sinking feeling. Fortunately, there are a number of different reasons the IRS may be reaching out and not all of them are negative. In fact, it could be due to an error on their end or even correspondence regarding a potential refund.
Over 240 million returns are filed annually and to expect each and every one to be completed flawlessly is certainly unrealistic. However, the stigma associated with IRS dealings is rightfully earned to some degree. While it is true that financial crimes and tax evasion could land you in prison, understanding the differences between negligible, intentional activity and an honest mistake is something that will be investigated, if needed. Fortunately, there are plenty of steps in that process and getting immediate professional assistance is critical anytime the IRS comes calling.
Internal Revenue Service (IRS) Contact
To begin, the IRS will never initially contact individuals via a phone call. While it is possible to set up a phone conversation, these are typically arranged in advance and all parties have knowledge of the call taking place. Unfortunately there are many scams and fraudulent activities targeting victims in relation to the IRS but taxpayers should know any official contact will come in the form of a mailed letter delivered by the US Postal Service.
Reasoning
Not all notifications from the IRS are negative. The recent Child Tax Credit initiated notification to receivers about filing and other correspondence could be requesting more information, to expose an error, verify identity, or a change in address.
Next Steps
Once a letter arrives, recipients should remember to not stress but verify the information is definitely from a reliable source and relatable to the return in question. Once confirmed to be both legitimate and accurate, individuals should begin to take steps in order to make a response in a timely manner. Ignoring a request from the IRS is likely not going to end well, instead, seeking help and developing a plan of action should be the targeted response.
Professional Assistance
Contacting your tax professional and ensuring you have someone in your corner can be extremely beneficial. Not only are they likely to have experience dealing with the IRS, but any disputes and clarifications may be more easily addressed if the help has familiarity with a situation of a quality contact. In addition, for many this will be their first experience dealing with the IRS but professional assistance offers help from individuals with a background in dealing with any issue needing to be addressed.
Should you need help after receiving an IRS letter, are needing to file a return, or are seeking answers to any other tax related questions, let the tax professionals at Bloch Rothman and Associates assist you today. In addition to providing answers for your questions, they can also take care of multiple other issues dealing with paying or owing back taxes, required audits signaled by either the IRS or an outside agency, or any other personal or corporate wealth management issues. Along with providing a top quality tax service, our group can also complete all types of returns and get answers to any other factors associated with financial issues or concerns you may have. Serving Denver and all of the surrounding areas for 35 years, our firm has an extensive history in helping clients with any and all of their tax issues or dealings with the Internal Revenue Service. If you have questions about your personal, business, estate, or any other filings, don’t hesitate to contact us today. Available for all of your tax needs, there are also a number of bookkeeping and payroll services offered to assist you and your business. We look forward to meeting you and providing the type of service you can rely on whatever your needs may be very soon!
Read More...
Over 240 million returns are filed annually and to expect each and every one to be completed flawlessly is certainly unrealistic. However, the stigma associated with IRS dealings is rightfully earned to some degree. While it is true that financial crimes and tax evasion could land you in prison, understanding the differences between negligible, intentional activity and an honest mistake is something that will be investigated, if needed. Fortunately, there are plenty of steps in that process and getting immediate professional assistance is critical anytime the IRS comes calling.
Internal Revenue Service (IRS) Contact
To begin, the IRS will never initially contact individuals via a phone call. While it is possible to set up a phone conversation, these are typically arranged in advance and all parties have knowledge of the call taking place. Unfortunately there are many scams and fraudulent activities targeting victims in relation to the IRS but taxpayers should know any official contact will come in the form of a mailed letter delivered by the US Postal Service.
Reasoning
Not all notifications from the IRS are negative. The recent Child Tax Credit initiated notification to receivers about filing and other correspondence could be requesting more information, to expose an error, verify identity, or a change in address.
Next Steps
Once a letter arrives, recipients should remember to not stress but verify the information is definitely from a reliable source and relatable to the return in question. Once confirmed to be both legitimate and accurate, individuals should begin to take steps in order to make a response in a timely manner. Ignoring a request from the IRS is likely not going to end well, instead, seeking help and developing a plan of action should be the targeted response.
Professional Assistance
Contacting your tax professional and ensuring you have someone in your corner can be extremely beneficial. Not only are they likely to have experience dealing with the IRS, but any disputes and clarifications may be more easily addressed if the help has familiarity with a situation of a quality contact. In addition, for many this will be their first experience dealing with the IRS but professional assistance offers help from individuals with a background in dealing with any issue needing to be addressed.
Should you need help after receiving an IRS letter, are needing to file a return, or are seeking answers to any other tax related questions, let the tax professionals at Bloch Rothman and Associates assist you today. In addition to providing answers for your questions, they can also take care of multiple other issues dealing with paying or owing back taxes, required audits signaled by either the IRS or an outside agency, or any other personal or corporate wealth management issues. Along with providing a top quality tax service, our group can also complete all types of returns and get answers to any other factors associated with financial issues or concerns you may have. Serving Denver and all of the surrounding areas for 35 years, our firm has an extensive history in helping clients with any and all of their tax issues or dealings with the Internal Revenue Service. If you have questions about your personal, business, estate, or any other filings, don’t hesitate to contact us today. Available for all of your tax needs, there are also a number of bookkeeping and payroll services offered to assist you and your business. We look forward to meeting you and providing the type of service you can rely on whatever your needs may be very soon!
Denver Tax Return: Individual and Married Filing Dates to Remember
February 18, 2022
The new year is now in full swing and as January switches into the rearview, it’s time to begin thinking about filing your tax return. For many individuals, their tax documents have already begun to arrive and it's important to remember these are necessary for filing and keep them in a safe location. Once you have everything you need - W-2 forms, 1099’s, interest statements, etc. - then setting up an appointment for your filing is the next step in the process. You’ll also want to keep enough time between this date and the deadline in order to accommodate for any adjustments or additional information that may be needed. By getting a head start on the filing process, the quicker you may receive a refund or, in the event an amount is due, you’ll have longer to save up for a potential payment.
If you don’t operate a business, knowing how to choose your tax filing status can be extremely beneficial. However, if you are uncertain of which category to select, expert guidance is available and it can be determined once you are ready to file. Some filing deadline dates differ, depending on individual versus corporate returns, but for those who are filing as single, married (either version), head of household, or a widow, there are two important dates to note as you prepare to report last year’s earnings and file a return.
APRIL 18, 2022
The first approaching deadline for individuals is a bit extended this year from the traditional date, but this delay has nothing to do with the ongoing coronavirus pandemic. After two years of delays because of Covid-19 concerns, the tax filing deadline should return to its traditional April 15 deadline this year, however, that day is a holiday in Washington DC (Emancipation Day), and will give taxpayers another few days to file their returns. April 15 falls on a Friday this year, but due to this holiday, the deadline to file your return, request an extension, and/or pay taxes owed is April 18 this tax filing season.Â
OCTOBER 17, 2022
An extension to file typically gives taxpayers an additional six months to submit their paperwork. For those needing this break, it’s important to remember the extension only accounts for any filings and not payment. If you typically owe taxes or think you may this year, then the above April 18 date applies to submitting payments, as there is no extension for this requirement. Even though the April date is a bit delayed, due to the DC holiday, the October date would have remained on the 15th, but this year that is a weekend and thus the next business day is October 17. It is here where the deadline for submitting those returns for individuals who filed extensions must be turned in to the Internal Revenue Service (IRS) for processing.
If you need assistance determining your filing status, submitting a return, or have any other tax related questions then let the professionals at Bloch Rothman and Associates assist you today. In addition to providing answers for your questions, they can also take care of multiple other issues dealing with paying or owing back taxes, required audits signaled by either the IRS or an outside agency, or any other personal or corporate wealth management issues. Along with providing a top quality tax service, our group can also complete all types of returns and get answers to any other factors associated with financial issues or concerns you may have. Serving Denver and all of the surrounding areas for 35 years, our firm has an extensive history in helping clients with any and all of their tax issues or dealings with the Internal Revenue Service. If you have questions about your personal, business, estate, or any other filings, don’t hesitate to contact us today. Available for all of your tax needs, there are also a number of bookkeeping and payroll services offered to assist you and your business. We look forward to meeting you and providing the type of service you can rely on whatever your needs may be very soon!
Read More...
If you don’t operate a business, knowing how to choose your tax filing status can be extremely beneficial. However, if you are uncertain of which category to select, expert guidance is available and it can be determined once you are ready to file. Some filing deadline dates differ, depending on individual versus corporate returns, but for those who are filing as single, married (either version), head of household, or a widow, there are two important dates to note as you prepare to report last year’s earnings and file a return.
APRIL 18, 2022
The first approaching deadline for individuals is a bit extended this year from the traditional date, but this delay has nothing to do with the ongoing coronavirus pandemic. After two years of delays because of Covid-19 concerns, the tax filing deadline should return to its traditional April 15 deadline this year, however, that day is a holiday in Washington DC (Emancipation Day), and will give taxpayers another few days to file their returns. April 15 falls on a Friday this year, but due to this holiday, the deadline to file your return, request an extension, and/or pay taxes owed is April 18 this tax filing season.Â
OCTOBER 17, 2022
An extension to file typically gives taxpayers an additional six months to submit their paperwork. For those needing this break, it’s important to remember the extension only accounts for any filings and not payment. If you typically owe taxes or think you may this year, then the above April 18 date applies to submitting payments, as there is no extension for this requirement. Even though the April date is a bit delayed, due to the DC holiday, the October date would have remained on the 15th, but this year that is a weekend and thus the next business day is October 17. It is here where the deadline for submitting those returns for individuals who filed extensions must be turned in to the Internal Revenue Service (IRS) for processing.
If you need assistance determining your filing status, submitting a return, or have any other tax related questions then let the professionals at Bloch Rothman and Associates assist you today. In addition to providing answers for your questions, they can also take care of multiple other issues dealing with paying or owing back taxes, required audits signaled by either the IRS or an outside agency, or any other personal or corporate wealth management issues. Along with providing a top quality tax service, our group can also complete all types of returns and get answers to any other factors associated with financial issues or concerns you may have. Serving Denver and all of the surrounding areas for 35 years, our firm has an extensive history in helping clients with any and all of their tax issues or dealings with the Internal Revenue Service. If you have questions about your personal, business, estate, or any other filings, don’t hesitate to contact us today. Available for all of your tax needs, there are also a number of bookkeeping and payroll services offered to assist you and your business. We look forward to meeting you and providing the type of service you can rely on whatever your needs may be very soon!