Bookkeeping and Tax Preparation in the Santa Fe & Albuquerque New Mexico areas.
End of an Era
It is with heavy hearts and joy that we are letting you know that Susan has decided to retire and thus we are closing our Santa Fe office. For many personal reasons Susan and Amanda both feel they need to take a step back. Susan has had forty-two fulfilling years working with so many of our clients. This was not a decision that came easily for her and her working relationships with our clients were a big part of what kept her in the office each year. Now, however, she gets to spend more time with her grandkids, quilting, reading, and travelling (with Amanda obviously).
Amanda has been commuting to Santa Fe for more than 20 years to work with our clients, but the time has come to be closer to home for her family. No matter how much she would like to keep working with all our clients, one person cannot do the work of three. Amanda has decided to keep working with her bookkeeping and her Albuquerque home office based clients to keep her hours more manageable. In her spare time, she will keep volunteering with her kids’ schools and extracurricular activities.
This decision came suddenly for us all, as it was not something that was on our radar. We thought that we might have more time as you never know how the real-estate market will go, but our space is a great fit for another company and is being sold in two weeks. We are wrapping up the 2023 income tax filing year for those that had extensions and will be closing our doors on September 4th at 2:00 pm. If you need anything before we close our doors so that you can take your files to another preparer, please contact us as soon as possible. Now, the big question….”do you have someone to recommend?” And, unfortunately, we do not. We highly recommend that you ask family, friends, and colleagues if they have someone that they trust. You can also search for another Enrolled Agent through the IRS website or the NAEA (that is how you would find Susan and Amanda).
We have always greatly appreciated our clients and the relationships we have formed with you and your families. We thank you for so many years of business, your support, your smiles, your frowns, your laughs, and your tears. Our relationship with you will always be treasured.
Tips from Susan and Amanda:
What to consider when choosing a tax return preparer
Taxpayers should keep these things in mind when looking for a tax return preparer.
• Make sure the preparer is available year-round. If questions come up about a tax return, taxpayers may need to contact the preparer after the filing season is over.
• Review the preparer’s history. Taxpayers can check with the Better Business Bureau for information about the preparer, including any disciplinary actions and the license status for credentialed preparers. Other resources include the State Board of Accountancy’s website for CPAs and the State Bar Association for attorneys. Taxpayers can also check the IRS Directory of Federal Tax Return Preparers for enrolled agents or verify an enrolled agent’s status online.
• Ask about service fees. Taxpayers should avoid tax return preparers who base their fees on a percentage of the refund or who offer to deposit all or part of the refund into their own financial accounts. Be wary of tax return preparers who claim they can get larger refunds than their competitors.
• Ensure their preparer offers IRS e-file. The IRS issues most refunds in fewer than 21 days for taxpayers who file electronically and choose direct deposit.
• Understand the preparer’s credentials and qualifications. Attorneys, CPAs and enrolled agents can represent any client before the IRS in any situation. The IRS Directory of Federal Tax Return Preparers with Credentials and Select Qualifications can help identify many preparers by type of credential or qualification. Tax return preparers who participate in the Annual Filing Season Program may represent taxpayers in limited situations if they prepared and signed the tax return.
Tips for working with a tax preparer
These are a few things taxpayers should keep in mind when they work with a tax preparer:
• Good preparers ask to see records and receipts. They’ll also ask questions to determine the client’s total income, deductions, tax credits and other items. Taxpayers should avoid a tax return preparer who e-files using pay stubs instead of W-2s. This is against IRS rules.
• Taxpayers should review the tax return before signing it. They should ask questions if something is unclear or inaccurate.
• Any refund should go directly to the taxpayer – not into the preparer’s bank account. Taxpayers should make sure the routing and bank account numbers on the completed return are accurate.
• Taxpayers are responsible for filing a complete and correct tax return. They should never sign a blank or incomplete return and never hire a tax return preparer who asks them to do so.
• Ensure the preparer signs and includes their PTIN. By law, anyone who is paid to prepare or help prepare federal tax returns must have a valid Preparer Tax Identification Number, and they must sign and use that PTIN on any tax return they prepare. Not doing so is a red flag that the paid preparer may be looking to make a quick profit. Taxpayers should avoid these unethical tax return preparers.
It’s hard to say goodbye…..Thank you!
Bookkeeping
Bookkeeping for Albuquerque and Santa Fe Businesses: Financial information generated by bookkeeping and the sales that create it are the lifeblood of a successful business in Albuquerque or Santa Fe. Without quality information smart business decisions are next to impossible.
Business Tax Preparation
We are an established business tax and accounting services company providing customized tax and accounting solutions to businesses and business owners. Our tax professionals have over 30 years of experience in business tax planning, business tax preparation, and business accounting.
Individual Tax Preparation
We have been doing income tax preparation for people from Santa Fe, Albuquerque and the surrounding area since 1983. From the complex return to the most basic 1040 return, Aces & Associates can complete any type of personal tax return.
Topics
Aces & Associates works hard to keep our clients up to date on the latest tax rules and regulations with a blog dedicated to just that.