Wilson Toellner CPA

What are some of the basic things individuals should be doing now in preparation to file for 2020? This Mid-MO accounting firm is here to give you a top five list and reasons why these are important in this 2-part blog series. Stay tuned next week for Part 2. If you have any questions about preparing to file for your taxes for 2020, please call our CPA firm in Central MO today. Wilson Toellner CPA can be reached at one of our 4 locations throughout Mid-MO and all contact information can be found on our website at www.WTCPA.com . Helpful Tax Tips: Part 1 1. Gather the necessary documents. Begin watching for tax forms and documents coming by mail and start a file or folder for anything you receive for tax year 2019. Staying organized and keeping all your information in one place will help ensure you have everything needed to prepare your return. If you aren’t sure if you have received all forms and documents, ask your tax preparer for a checklist of necessary documents. 2. ...

Tax Day 2020 will be here before you know it. The tax deadline is Wednesday, April 15th, 2020. You don't want to get caught off guard this year and realize you have waited to the last minute to get your taxes prepared. Waiting to the last minute can cause you to rush and make mistakes. If you are having a professional accountant in Mid-Missouri file your taxes for you this year, make your appointment in a timely fashion because they are likely very busy the closer to the deadline you wait. In the meantime, the Mid-MO accounting firm is here to give you a few tax prep tips for 2020 in this week's blog. Think about how much money you are donating and how it will affect your taxes. If you are just under the point of surpassing the standard deduction mark, you could consider making 2 years worth of donations this year so that you can itemize, if possible. Make sure you track your income accurately. To track your income the best, in addition to your W-2, gather your: ...