Happy New YEar!
welcome to tax season!

We hope you enjoyed the final days of 2019. If you're like me, your resolutions for this New Year include a) less screen time and b) less procrastinating. To help you with both, I'll get straight to the point: 

Click here to schedule your tax appointment with Your Accountant

If you'd rather talk to a human to schedule, you can still call us at 612-824-2829 (but online is most likely faster/easier).

OR if you would rather work remotely, read on for instructions on sending us your information securely. 

PARTNERSHIP AND CORPORATE TAX CLIENTS: Please send bookkeeping directly to your tax preparer before scheduling an appointment. We prefer to work on those before we set up a meeting to review and sign the tax returns. But we'd love to work on these in January, so send us a note as soon as your December books are reconciled!

We updated our Tax Organizers to reflect tax changes for the year and ask that you please download and fill it out before your appointment. Our goal is to make sure you don't miss any deductions that you deserve, so please review these worksheets closely to see what items may apply to your tax return. 

One item of note: Penalties for not having health insurance have expired, so Form 1095-B and 1095-C are no longer needed; however, if you had MNSure or other Affordable Care Act Coverage, we DO need Form 1095-A from the exchange in order to complete your taxes. 

If you'd like to work remotely with us this year OR prefer to give us a head start on data entry before your appointment, please use our online portal to securely send us tax forms and/or the completed Tax Organizer. Each year, more and more tax forms from W2s to 1099s are showing up digitally, so feel free to send them along when you get them rather than killing a tree just to have us re-scan them back into our system.

Now that 2020 is here, we don't want to waste any time in jumping into tax season! Below is a list of upcoming due dates. Please let us know if you need help with any of those filings (preferably long before said deadline dates). 

• JANUARY 15: 
  • 4th Quarter Estimated Tax Payments: See links on our website where you can pay both IRS and MN online.
• JANUARY 20: 
  • Quarterly MN Sales Tax: log in and file online with MN Dept of Revenue.
• JANUARY 31:
  • 1099-MISC Forms and W2s: If you have employees or subcontractors, W-2s and 1099s need to be printed and mailed to them. Please contact us if you need help with 1099 or W2 reporting.  1099-misc forms can be made online at www.yearli.com for a small fee each. 
  • Quarterly payroll reports
• FEBRUARY 5: 
  • Annual MN Sales Tax Report: If you have a MN Tax ID#, you need to file online, even if you don't collect Sales Tax!  You still should report Use Tax on items purchased online without paying sales tax at time of purchase.
• MARCH 16: 
  • S-Corporation and Partnership Tax Returns
  • MNCare Tax: Medical practitioners need to file annual report listing all medical service income in MN.
• APRIL 15: 
  • Individual Income Tax Returns  
  • FBAR filing online: If you have $10,000 or more in foreign bank accounts/asssets, you should file this online (no tax due, just informational reporting--with hefty penalties for not doing it!)

Please contact us BEFORE these dates (preferably several weeks) if you need help filing any of these, and we will be happy to help you.  For personal income tax, our schedules are pretty full by mid March, so please contact us early to get in by the deadline (or file an extension). 

Give us a call at 612-824-2829 or schedule with Your Accountant online here! 

We hope to hear from you soon.

Thanks!

Mark, Alyssa and the Fox Tax Crew