Important Times to Seek Assistance from Your CPA

Waiting for your regular CPA appointment to discuss current tax related issues can create problems or cause you to miss out on beneficial options that need to be timely exercised before year end.  When are important times to seek assistance from your CPA?  You should us whenever you or your spouse experience any of the following:

• Receive a large employee bonus or award
• Become unemployed
• Change employment
• Take an unplanned withdrawal from an IRA or other pension plan
• Retire or are contemplating retirement
• Exercise an employee stock option
• Have significant stock gains or losses
• Get married
• Separate from or divorce your spouse
• Sell or exchange a property or business
• Experience the death of a spouse during the year
• Turn 70 1/2 during the year
• Increase your family size through birth or adoption of a child
• Start a business or acquire a rental property
• Receive a substantial lawsuit settlement or award
• Get lucky at a casino, lotto, or game show and receive a W-2G
• Plan to donate property worth $5,000 ($500 if a vehicle) or more to a charity
• Plan to gift more than $13,000 to any one individual during the year

In addition, you should call whenever you receive a notice from the government related to your tax return.  You should never respond to a notice without first checking with us.

Give us a call at 559-924-1225 to discuss how any of these changes will affect your finances and tax situation.  After all, we’re here to help!