Well, we just past mid-year, maybe a bit too early to gather your records to file your 2014 tax returns, or maybe you forgot to care for your 2013 tax return, (or even worse, prior to that). But, why not, as Dr. Benjamin Franklin remarked once “Do not put off tomorrow, what you can do today”. After all, if you already got an extension on your 2013 tax returns, they are due on or by October 15, 2014 (September 15, 2014 for corporations). Remember 6 months ago, you made all of those “New Year Resolutions”, why not fulfill this one: “Resolved, I hereby promise to be timelier with my tax returns”. Since, we just past mid-year, why not start now. The first step of course to get some organization of your financial records. OK, maybe that is almost an impossible step to comply with. So, probably you have to admit you need help to organize and perhaps what are the best tax strategies for you. This is where you need to find a licensed tax practitioner, such as an Enrolled Agent, to help you organize and to plan out the rest of 2014.

So what do you look for in such a person? Of course, everyone is budget concise these days, and always looking for price. But sometimes a lower price may become more of a detriment than a benefit. As one old idiom goes, “You get what you pay for”. So when hiring someone with regards to your tax returns, you may need to find someone who has the sophistication, knowledge, and experience who can translate the most complex provisions of the tax laws into very simplistic terms that you can understand and comprehend, and also to assist you in taking advantage of a tax deduction, a tax credit, or something that can be excluded from taxable income. Thusly, one should not look at a price of a tax professional, the criteria should be; is he/she duly licensed (e.g. an Enrolled Agent), how much knowledge and/or experience he/she has, and can he/she explain the complex issues of the tax laws in a simplistic and meaningful manner that would be able to apply to you. After all, this is your tax return which is a reflection of your financial life. If you need to find a tax practitioner, you could always contact us at [email protected] or if you would like to read more about us and our affiliates please visit https://www.kayatax.com/about-us