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Many Most Nearly all of GP CPA’s clients typically do not require an extension in order to timely file their personal and corporate tax returns.
This is partly due to our regular contact with our clients and the proactive approach that helps us get ahead of any issues that might need to extra time (i.e. an extension).
For the small percentage of our clients that usually extend their returns, the most common factor among them is waiting on a K-1 that GP CPA is not involved in. Unless our client has a very complicated return or specifically requests an extension, our goal is a timely filed return to keep everyone happy and compliant.
While we wait on that other firm to get our client’s K-1 done, we cross our fingers and toes in hopes that the K-1 does not contain any surprises. We believe that surprises are best left to birthday parties, engagements, or random acts of kindness and definitely NOT taxes. The ability to deliver on a positive tax surprise is hopefully a once-in-a-career event and something GP CPA is not banking on.
If you filed an extension and were unhappy with the results or even worse – still waiting on the results – let’s get to know your tax situation and see if you and your business would be a good fit for our approach to accounting and taxes.
The only reason you should have to file an extension is that you want to, not because your accountant needs you to. To see what it feels like to be done with taxes in April (well, last year’s at least) get in touch.
Congress extended some of the tax breaks retroactively to January 1, 2018. They now expire on December 31, 2020. Learn more about tax breaks that have been extended.
Take control back from the big box payroll companies and work with someone who can guide you to a better payroll process. GP CPA + GUSTO is the modern way payroll runs and the partnership that moves your business forward.
GP CPA has relied on cloud-based accounting technology for many years now and devotes a significant amount of time toward testing and learning the latest and greatest systems out there.
Since we now have less than 90 days left in the year, kindly keep me apprised of when you expect the major revenue collections to be during the next few weeks and we can adjust accordingly.
IRS has begun sending letters to virtual currency owners advising them to pay back taxes, file amended returns; part of agency’s larger efforts
IRS has begun sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from virtual currency transactions.