* When getting your “tax stuff” together to take to your accountant, remember that organization can save your accountant time, which will save you money. Try to keep information & receipts for different categories together. For example, keep rental property income & expense information separate from your personal home information.
Make your accountant aware of what is happening to you financially!!! If you sell a piece of property, don’t keep it a secret from your accountant. Let your accountant know about unusual financial transactions ahead of time so that tax planning can be done.
Year 2019 Tax Changes:
* Maximum taxable earnings for Social Security $132,900
* Auto standard mileage allowance: 58¢
* The Affordable Care Act requires information on health insurance. Your accountant will need to see all 1095 forms you receive.