Dear Clients, Colleagues and Friends,
As we continue to monitor Coronavirus (COVID-19) developments closely, Shilts CPA is doing everything we can to ensure the health and well-being of our employees, clients, and surrounding communities while also delivering reliable service to our clients.
As your trusted service provider, we also understand that limiting any impact this health event could have on our service to our clients is imperative. We are keenly focused on our preparedness efforts to maintain a safe work environment for our associates and to sustain our business operations.
As such, we have implemented the following:
We have also made plans to continue operating our business normally, which means our professionals will be available to you without service interruption whether they are working in our offices or remotely. We also provide our clients with several highly secure ways to send us documents electronically (ex. Citrix Share File, OfficeTools Client Portal).
Just like you, we will continue to monitor this fluid situation and adhere to all recommendations from the World Health Organization, U.S. Centers for Disease Control and Prevention, and local authorities as well as provide you tax related updates from the Internal Revenue Service.
We hope you find this month’s newsletter informative and insightful. Please reach out to us with any questions or concerns – we’re here to help.
Josh Shilts, CPA/ABV/CFF/CGMA, CFE
Some of the articles and content we want to make you aware of are
- What to Do If You Are Missing Important Tax Forms – If you are ready to file your taxes but are missing important tax forms, here’s what you should do.
- Are Social Security Benefits Taxable? – If you receive Social Security, a tax professional can help you determine if some – or all – of your benefits are taxable.
- Worker Classification: Employee vs. Contractor – Employee or independent contractor? What’s the difference and why you need to know.
- It’s Not Too Late to Make an IRA Contribution – If you haven’t contributed funds to an IRA for tax year 2019, there’s still time. Here’s what you need to know.
- New Rules for Depreciation and Expensing – New rules and limitations are in effect for taxpayers who deduct depreciation for qualified property acquired and placed in service after September 27, 2017.
Tax Due Dates
Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.