Sunday, February 27, 2011
No More Recording Corporation Documents
With the availability of Illinois corporate information online at www.cyberdriveillinois.com, Public Act 096-1121 has deleted all requirements for filing with your county recorder. This change took effect on January 1, 2011 and it means that documents like Articles of Incorporation and changes in registered agents no longer need to be recorded with your county. If you have any questions, please call my office.
Friday, February 4, 2011
No Free Lunch....., or Tax Returns
This is like buying a car for free, but the motor is extra.
As tax season gets in full swing, we have all noticed those ads for free do it yourself tax return preparation. Turbo Tax, H&R Block and TaxAct all offer free federal filing for the simplest of returns. (usually taxpayers with a W-2 from their employer and nothing else)
Anyone with a more complicated return (like those with itemized deductions, small businesses, securities sales, educational credits, etc.) will not be able to take advantage of the "free" filing.
Even if you have a very simple return, beware! The federal returns are free, but you must pay for the preparation and filing of your state income tax returns. These fees average $27.95 and up.
My advice is to make sure you are aware of your eligibility to use the free filing up front and determine what other costs will be unavoidable.
As tax season gets in full swing, we have all noticed those ads for free do it yourself tax return preparation. Turbo Tax, H&R Block and TaxAct all offer free federal filing for the simplest of returns. (usually taxpayers with a W-2 from their employer and nothing else)
Anyone with a more complicated return (like those with itemized deductions, small businesses, securities sales, educational credits, etc.) will not be able to take advantage of the "free" filing.
Even if you have a very simple return, beware! The federal returns are free, but you must pay for the preparation and filing of your state income tax returns. These fees average $27.95 and up.
My advice is to make sure you are aware of your eligibility to use the free filing up front and determine what other costs will be unavoidable.
Wednesday, February 2, 2011
Filing of Certain Tax Returns Delayed Until February 14th
Due to recent tax law changes, the IRS will not accept 2010 personal income tax returns (paper or e-file) until February 14, 2011. According to the IRS, the affected returns are those claiming itemized deductions on Schedule A, the higher education tuition and fees deduction on Form 8917 and the educator expenses deduction. Many taxpayers claim itemized deductions (mortgage interest, property taxes, medical expenses, charitable contributions, etc.), so this affects a large number of filers.
You may still have your tax preparer start on your returns now, but they may not be processed and filed until the 14th. This also delays any refunds until after that date.
If you need someone to do your taxes, why not call me at 847-955-9000.
You may still have your tax preparer start on your returns now, but they may not be processed and filed until the 14th. This also delays any refunds until after that date.
If you need someone to do your taxes, why not call me at 847-955-9000.
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