Johnson Financial Services provides a variety of services to individuals and businesses in a wide range of industries. Johnson Financial strives to meet a clientecific needs in planning for the future and achieving goals in an ever-changing regulatory and financial environment.
Individual and family finances are a key part of personal security and future prospects. You wouldn't trust a hospital orderly to perform surgery on you? Why put your tax or financial affairs in the hands of a non-licensed "tax preparer."
Given a choice between personal professional service all year long or a chain of "tax preparation stores" open only from January 1st through April 15th or minimum wage tax preparers, which would you choose? Think about it, would you rather talk to a salesman about your tax problems or a tax professional? If you owe the IRS thousands of dollars or have not filed in many years and you call a "tax resolution firm" like J.K. Harris, you initially deal to a salesman, not a tax professional. These so-called "tax consultants," have no license or professional obligation like an Enrolled Agent, CPA or Attorney. Call Johnson Financial Services and you speak directly to Michael Johnson.
Michael Johnson has the credentials. He has a Bachelor's Degree and MBA, and holds an Enrolled Agent designation from the United States Treasury Department. He is a member of the National Association of Enrolled Agents, the Texas Society of Enrolled Agents and is a Fellow of the National Tax Practice Institute (NTPI). Only some 40,000 tax professionals are qualified as Enrolled Agents. Of that number, just a few hundred are also members of the National Tax Practice Institute. BA, MBA, EA and a Fellow of the NTPI.
Michael Johnson has the experience. He has prepared thousands of tax returns, represented hundreds of people before IRS and counseled folks on financial matters for many years.
1. Choose Your Tax Preparer Wisely
Nobody knows your finances better than you doss, of course, itനe IRS. Choosing a licensed tax preparer诬 by virtue of competency testing and mandatory continuing education, has technical expertise in the field of taxation and who is empowered by the U.S. Treasury to represent taxpayers in all transactions before the Internal Revenue Service㠹our best bet.
2. Don֩ew Your Refund With Dis-Interest
The average federal refund is approximately $2,300. This represents an interest-free loan by each American taxpayer to the federal government of nearly $200 per month.
And then there෨at you ?to your state government, too.
An enrolled agent can show you how to put that money in a rainy day fund and how to right-withhold so you can enjoy your money as you earn it.
3. Often Overlooked Deductions Can Yield Cash You Didnˮow You Had
We all know that good feeling of putting on a coat we haven෯rn in a few months, putting our hand in the pocket and pulling out a dollar or two weযrgotten about. You can get that same feeling by making sure that your tax preparer doesn௶erlook the most overlooked deductions in the categories of tuition, interest, child-care and military reservists expenses, to name a few.
An enrolled agent like Mike Johnson can show you the deductions you deserve to claim to cut your tax bill.
4. Your Home Shelters More Than Your Family
Mortgage interest deductibility is one of the incentives for home ownership. But did you know that your mortgage insurance premiums may be deductible, too? Your home equity loan interest may be deductible, as well.
Even more important to many who have had their mortgages foreclosed: Thereࡠnew take on the taxable nature of mortgage forgiveness.
5. Credits are available to help you get a bigger refund if you qualify.
Kids in college or did you take classes for profesional advancement? There is a credit for that! Did you put certain energy improvements in place for your home? There may be a credit for that! If you paid foreign taxes or have children under 17, you may have tax credits coming to you.
6. Self-employed? Make sure you get all the deductions you堥ntitled to.
If you堳elf-employed, there are unique rules that guide your tax filing㠵nique as the service you provide. Your home office and child care expenses, your retirement plan, even FICA taxes take on whole new meaning when you堷orking for yourself. Should you defer income and accelerate expenses? Or maybe itനe other way around. Your tax preparer should know, and an enrolled agent who specializes in preparing taxes for the self-employed will know for sure.
7. High-tech scams will separate you from your money
We堡ll heard the phrase about a sucker being born every minute. Now it seems that thereࡠnew scam born just as often. The latest involves someone pretending to be from the IRS asking for your Social Security Number and your bank account information so they ᮠdeposit your refund or economic stimulus check directly.?The only direct deposit they will be making is into their own accountﳴ likely from yours.
Remember: Itಡre for the IRS to make its initial contact with you by phone. Usually, the IRS will make initial contact by mail.
8. Make Sure You Get a Receipt, Whether You堆iling Electronically or by Paper
You堷orked hard to get your receipts in order so that you can make the most of your allowable deductions. Now get the most important receiptﲠfiling. Whether you file by mail or electronically, make sure you get a receipt. Sending your return via the U. S. Postal Serviceಥturn receipt service adds only $2.15 to the cost of mailing. Be sure your computer-based tax program prints a receipt for filing.
Whether you prepare your own taxes or an enrolled agent prepares them for you, make sure to get that receipt.
9. Failure to File Red Flags You for Penalties
What෯rse than reaching April 15 with taxes owed and no way to pay? Not filing your taxes. Failing to file your return is a whole lot worse than failing to pay your balance due. Failure to file puts you at risk for penalties and interest. Instead, file your taxes and pay something. Then set up a payment plan with the IRS. An enrolled agent can guide you through the process.
10. Itpril 15, and You堆iled Your Taxes. You堁lmost Done.
What? There୯re? Absolutely. Now is the time to pitch out any records that you kept for that return you filed 4 years ago that have no bearing on your taxes襠receipt from the drycleaner that was misfiled along with your parking and mileage records, the odd greeting card that made its way into the file for the donated car, theﵠget the idea.
And while you堡t it, now is a good time to set up your files for next filing season while the categories that pertain to your unique tax situation are still fresh in your mind.
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Copyright ?2010 . Dallas Tax Expert
All Rights Reserved.
Hiring a tax professional is a very important decision.
Why Use an EA to file your tax return
Top Ten Tax Tips for Every American
Filing A Tax Return
National Tax Practice Institute
Michael Johnson is a distinguished member of a elite group of tax professionals. He is a Fellow of the National Tax Practice Institute. This designation is awarded after a rigorous program that requires establishing the ability to represent taxpayers before IRS is complicated tax matters. When you hire Mike, you are hiring a man who is at the top of his profession and who is recognized by his peers.
2010 Marks the 25th Anniversary of this esteemed program!
Enrolled agents receive their right to represent taxpayers directly from the Internal Revenue Service, after proving in-depth knowledge of the tax code through examination. The National Tax Practice Institute (NTPI? teaches enrolled agents and other Circular 230 practitioners how to represent their clients. Representation requires expertise in the tax code as well as knowledge of the system and how it works. Clients deserve the best defense possible, and this requires continual education and review, as well as a robust network of expert colleagues who are willing to offer advice and assistance as needed.
NAEA developed NTPI to prepare licensed representatives to protect their clients?rights and build camaraderie among top practitioners. At NTPI you will increase your knowledge of IRS laws and procedures critical to representationuding Circular 230, the document which governs tax practitioners, learn from other Circular 230 practitioners (your peers) who are actively involved in representation, and gain practical hands-on experience.
At its core, NTPI is a three-level program developed to sharpen the skills of enrolled practitioners at all stages of their careers. With each level of this program, participants expand their knowledge and skills, and gain the confidence needed to successfully guide their clients through the often challenging maze of IRS codes, internal regulations, and agency structure.
Enrolled agents who successfully complete Levels 1, 2 and 3 (in order) join the ranks of the prestigious Fellows of NAEAΡtional Tax Practice Institute? Fellows are the cr譥 de la cr譥 of representation experts, and are highly qualified to represent their clients. Prospective clients using the 鮤 an Enrolled Agent?directory can even search for a Fellow. The member profiles of Fellows also showcase their designation, adding a level of distinction illustrating their additional expertise.
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