Q: When should I seek advice from a tax advisor?
A: It is hard to be specific, but planning
ahead in the tax realm is always highly recommended. In the following situations it is highly recommended you at least
touch based with your tax advisor as there are many tax implications associated with each.
- Sold stocks or bonds
- Purchased or sold investment property
- New job, promotion, or raise
- Lost your job
- Had a child
- Started a business
- Your business is growing or contracting
- Or you just want to know...
It is also highly recommended to have a mid-year tax & financial planning review done to make sure you are not
missing any valuable tax planning strategies.
Q: Can I pay for your tax services via Credit Card?
A: Yes, you can. Just use the PayPal link on our
home page and follow the directions. We accept Visa and Master Cards.
Q: How long does Allen & Allen, LLP keep my tax records and what do they actually keep?
A: A&A keeps your Federal and State tax returns, plus W-2's and any 1099's showing tax withheld for a period of 5
years.
Q: How long should I keep my tax records?
A: Officially, the IRS recommends 7 years as a maximum. However, if the IRS or State taxing authority suspect criminal
activity there is no limit as to how far back they can audit. We recommend keeping your tax records at least 10 years,
if not forever. For more information see IRS publication 552, Record Keeping for Individuals.
