Tortolano & Company, LLC

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4 Water Street

Amesbury, MA 01913

(978) 388 - 5500

 
January 21, 2011

Tax season has ARRIVED!

It is never to late to begin planning or figuring out what is going on with your financial situation.   Whether you are a business or a individual, using the beginning of the year and tax season can help you get organized by providing a framework of record keeping and filing.

Both businesses and individuals should begin by gathering all of your important documents whether you think they are needed to prepare your taxes and bring them with you when you have your taxes prepared or dropped off for preparation.  It is always better to give too much information and let your accountants figure out what is extra information and what is important information.  Sometimes not providing enough information will cause a delay in the preparation of your return.

Professional, personable and affordable service is essential to individuals and to business clients.  Let Tortolano and Company provide you with a service that is customized to your particular needs.  Call us today to schedule an appointment.  Appointments are available every evening as well as all day on Saturday and Sunday to work around your schedule.

Lance Tortolano

Tortolano & Company, LLC

978-388-5500

 

 

December 11, 2010

Now is the time to begin getting ready for tax season...

Business Owners:

As a business owner, you should begin to accumulate important documents such as the following:

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· Last Year’s Business Tax Return & Personal Tax Returns for Closely Held Corporations & Partnerships

· Accounting Records

· Bank Statements

· Credit Card Statements

· Payroll Reports

· Detail and Sale Agreements for New Asset Purchases

· Depreciation Schedules

· Detail for Any Assets Removed from Service in 2009

· Vehicle Information

· Other Information You Feel is Necessary for Tax Preparation and Closing Your Books for 2010

 

Contact us at 978-388-5500 for more information and to determine how we can best assist you and your business.

 

Individuals: 

The best thing to do is to start with your checkbook then your bank statements and then your credit card statements. Using these documents, you will be able to identify any charitable deductions and any expenses that you paid out of pocket for work related items. 

 

You should begin to gather receipts during this period for improvements that were made to your home.  Energy efficient credits are being offered to tax payers who commit to using green products and products that promote sustainability.

 

Tax payers who have mortgages should also consider trying to use the extra pay period in December to make an extra mortgage payment.  The extra interest paid with principle can great help do two things at once - reduce the life of your mortgage and create an extra tax deduction.

 

Keep checking back for more information as tax season gets closer.  If you would like to schedule an appointment or consultation, please call us and we can arrange that.  Early tax season planning is beneficial to many individuals who wish to minimize their tax exposure.

 

Lance Tortolano

Tortolano & Company

978 - 388-5500