Laura J. Hanlon
CPA
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New Strategy Posts for your Finances

Posts in Taxes
The Heart Behind Year-End Giving – Laura J Hanlon CPA’s Three Key Ideas

For YOU, we don’t have much more time to do something meaningful for your upcoming tax bill.

By that I mean that we are ONE MONTH away from year-end. That’s one month away from taking positive (instead of reactive) steps to affect your 2016 tax burden (with the exception of IRA contributions and a few various backdating strategies that are allowed).

So here’s a quick and dirty tax plan:

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Laura J Hanlon CPA’s Breakdown of the Candidates Tax Plans

Since Presidents are not responsible for writing tax policy, these plans indicate more about their respective visions for government, and how Mr. Trump or Mrs. Clinton would work with Congress to enact their particular visions. Neither one, if elected, would be (by law) vested with the power to make all of this happen by the stroke of a pen.

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Four Key Recordkeeping Principles For Conway Families To Protect You In The Case Of An Audit

With the election brewing around us, Congress isn’t doing *anything* right now about tax legislation … so, as usual, there will be some last-minute treats for us by the end of the year in the tax code. But the very good news for you (and all of our Conway tax preparation clients) is that we pay close attention to these things so you don’t have to.

And it’s a good thing we do pay attention. Many of our clients have never received that dreadful notice from the IRS, initiating an audit — or, much worse, the KNOCK on the door! If you never have, you probably don’t keep much financial documentation.

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Laura J Hanlon CPA’s Tax Planning Strategy For 2016

Believe it or not, now is the time to start making sure that you’ll be ready for a few months from now, when 2016 tax time is upon us.

Generally speaking, you should keep any and all documents that may have an impact on your federal tax return. Individual Conway taxpayers should usually keep the following records and supporting items on their tax returns for at least three years:

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13 Reasons The Taxman Fears Laura J Hanlon CPA

As I was scanning the news this past week, and seeing the *continued* doom and gloom in our 24-7 world, the glut of “experts” who clamor for your inbox and your attention, and the unfortunate reality of our scattered, modern age … well, I just thought you should have a better idea about who would be guiding your finances and your tax strategy through all the noise.

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The Complexity of Social Security Benefits For Conway Retirees

Like most government law, Social Security is not a simple piece of legislation. Since the Social Security Act became law in 1935, hundreds of amendments have been piled onto it, and have thereby added to the complexity. So to make the best decision about how to file for it, you’ll need to consider four things: 1) health, 2) income before retirement and 3) income during retirement, and 4) taxes.

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Laura J Hanlon CPA’s Tax Extension Tips

Here’s the deal: An “Extension of Time to File” is not an “Extension of Time to Pay”, unfortunately. The Extension simply gives you an automatic six months of additional time to get your paperwork together and file that return. But, if you owe more than what you paid with your estimate, you’ll be accumulating penalties and interest on the difference — so PLEASE don’t take the entire six months to do this!

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Hanlon CPA’s Top 10 Tax Document Checklist (Again)

With the increased penalties associated with the ACA in 2016, and all of the other changes every year, filing your taxes on your own is becoming much less ‘fun’ for regular taxpayers — even with nice-looking softwares on the market which purport to make it easy for you.

I truly do pity those inexperienced ones who try to muddle through all of the different codes and forms on their own,without devoting even a week’s labor to the transaction.It really doesn’t pay to “go it alone” for certain tasks.

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Laura J Hanlon CPA On How To Handle A Lost W2

By now, you should have received most of your tax documentation. If organizations haven’t sent you the necessary paperwork by now, then they are subject to certain consequences.

Unfortunately, these consequences don’t often carry much teeth for employers and sometimes HR departments or very small businesses don’t get their act together (probably because someone competent isn’t helping them! ahem), and … the W2’s take a while.

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‘This is a Final Notice From The IRS’ Phone Scam, and Other Warnings From Laura J Hanlon CPA

In case you didn’t already realize it, “tax season” (as we professionals refer to it) is a ripe harvest for spammers, scammers, phishers and con artists of every stripe.

When you pause and consider, it makes sense. After all, we’re dealing with A) significant sums of money (and information about it) PLUS B) fear (and loathing) of the IRS.

So if and when you get a voice mail purporting to be from the IRS, it makes sense that it might throw you off a little.

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Laura J Hanlon CPA On Hidden Fees Behind Popular Tax Chain’s “Free” Tax Prep

For various liability issues, I’m loathe to actually mention this company by name, but let’s say (for the purposes of this conversation) that there’s a big, popular company who made its fortune on the backs of lower-income taxpayers called H&P Black (a name picked completely at random). This company is flooding the airwaves with a brand new program offering “free” tax prep for federal and $9.99 for state.

Maybe you’ve heard about it? Well, like many such things, there are, shall we say … strings.

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Conway Tax Expert on Making Sure Your 2014 Taxes Are Done Right

Believe it or not, now is the time to start making sure that you’ll be ready for a few months from now, when tax time is upon us.

Generally speaking, you should keep any and all documents that may have an impact on your federal tax return. Individual taxpayers should usually keep the following records and supporting items on their tax returns for at least three years:

Read More