Congress to Take Action – Bush Tax Cuts to Expire

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We keep hearing about the Bush-era tax cuts and what it will mean to tax payers come December 31st, 2010. The lame duck session of Congress started on November 15th and the number one issue that needs to be figured out is what to do about all the tax cuts that are set to expire the end of this year. And, that means the IRS cannot even publish this year’s 1040 form until such time as Congress has decided what it will do.

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All of us have entered into tax season knowing that we really need to get everything together in order to present it to or accountant, but most of the time will really just don’t take the time to do the simple things that can get you ahead so you don’t lose out on those very needed deductions. In order to have everything ready people should start at the beginning of the new tax year by having things in a place where they can be found. Using these five tips you can present your materials for filing taxes and your accountant will thank you for it.

Find a good location to keep all important paper work for your business in one place. You should make sure that these papers are in a location that only people you trust will have access to.

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Get a paper organizer folder or file cabinet to keep each section broken down so you can easily assess them. A good file cabinet will often do a great job of making different sections of your taxes easy to find when you need them. The cabinets usually come with lock and key for secure access. Often color coding different section of your records can be a great help for locating files much faster.

Keeping paper receipts on everything you claim as a deduction will make it easier for your accountant to feel safe entering the deduction into the reduction claim for the tax year. If you have receipts then you have a hard copy proof of your deduction.

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Find a good account, you can take interviews to find a good account you only need to call and explain that you’re looking for and accountant and you were wondering if they would be willing to give you a free interview. These accountants can be very expensive at times and you will also need to ask for a free interview or they will be happy to charge you for their time.

Though all of this sounds scary, there are things you can do to prevent any of these catastrophes from happening to you and your family. Be sure to act at once if the IRS sends you a notice of any kind.

I’ve used accountants and Tax lawyers and they both were valuable tools for me during the stressful tax seasons of my past. During building a business it can be difficult enough without worrying about filing and keeping up with paper work this is the last thing you need to worry about. Once again keep in mind that I’m not an accountant or tax lawyer only a person who has felt the crouch of tax season before, an if this helps you even a little then that’s great! Good Luck and God Bless!

Hi readers my name is Harris Smith, thanks for reading this article I hope I will be useful to find home equity line of credit

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