Apr 6, 2021
Due to Covid- 19, the deadline for individuals filing taxes has been pushed to May 17, but the corporate deadline remains April 15, ensuring that nothing is simple about the tax code or Congress. Now that tax filing has unofficially been added to the list of things we do in our pajamas, Jack Russo asks Steve Rabin if virtualization has aided the tax practice since nearly everyone can conveniently scan and send required documents to their CPA, or if broken technology and tech illiteracy has added to his list of headaches. Whether his client is an individual, a business, or a combination of the two, Steve recommends filing extensions for even simple returns so that any changes become superseded returns instead of amended returns. Other tax filing tips include:
- Retirement account funding
- Employees vs contractors
- Will Biden’s tax proposal increase pressure on CPA’s?
- Dealing with cryptocurrency