Our Blog

  • Filing An Extension Can Relieve Anxiety
    by TaxDoctor on March 31, 2023 at 12:59 pm

    With tax season in full swing and documents from broker/dealers and other investment companies coming out later and later, you can definitely smell the tax “angst” in the air.  The amount of pressure that tax offices and their clients seem to be under is palpable. Why is this all happening and what about this is important to you? It’s happening because, over the years, although the IRS has stood firm at mid-January to April 15th as the filing season for 1040 filers, on the other side of the equation are the vendors themselves that have to send documents to the IRS:  The banks, the mortgage companies, the investment companies, etc.  The companies have managed to lobby and get extensions of time

  • Tax Planning Often Has Bonus Benefits
    by TaxDoctor on March 24, 2023 at 1:11 pm

    Have you worked toward losing weight in the past because you want to look more attractive, or fit into an expensive wardrobe you already own? When you lose weight you often also lower your blood pressure and/or cholesterol as a bonus. It might not be the primary motivation, but the extra benefit is of course welcome! If you are a business owner, then we pose this question. Some time ago you had an idea. Over the years your turned that idea into a successful and profitable business. Have you properly protected what you worked so hard to build?  An unexpected turn of events could put your biggest asset at risk. Did you know that moving business earnings into a qualified

  • Why Didn’t My Tax Preparer Tell Me That?
    by TaxDoctor on March 16, 2023 at 3:48 pm

    When you start tax planning with a new client, the first thing people often ask is why the accountant or CPA they are using doesn’t think or act the way you do in discussing the hunt for possible tax savings. After all, the current CPA is smart, trustworthy, running a successful accounting business and well respected in the community. So, why are you telling them all these wonderful new tax savings ideas that their CPA has never mentioned? There are many explanations, but the simplest is how the accountants themselves view the job that they do. Often, accountants think that the profession of accounting in its simplest form is the job of telling the story of money that has already

  • Yes, You Can Change Your Tax Outcomes After December 31st!
    by TaxDoctor on March 10, 2023 at 2:32 pm

    At this time of year many people who were getting a refund have already filed their tax return. It leaves the remaining majority of folks who, despite having withholdings, are still going to owe additional tax. We talk a great deal about tax planning and changing behaviors to achieve better outcomes in the future, but many are faced right now with a tax bill for last year. So, what can be done? Anything? The answer is YES! It’s actually simple and easy for most folks to substantially reduce the tax liability they are facing by opening a prior year IRA! It is one of the very few ways the IRS allows you to retroactively affect your taxes. What if you

  • Simple Tax Tips Are Sometimes the Best
    by TaxDoctor on March 3, 2023 at 2:29 pm

    People often struggle with record keeping and are typically so busy that they are simply unaware of tools or services that have been developed that could greatly improve the recording of tax deductible expenses, mileage, etc.  Many topics we could cover here, but two that are universal. If you are in business, you have a phone and a car.  Cell phones are pretty typical for smaller companies. What we usually see is a personal cell phone bill of about $150-250 a month, and of course the business owner wants to deduct it all.  When you start asking questions however, it’s almost always a family plan with the spouse and kids on it, so 80% of the cost and use is

Taxes Are Due In

Day(s)

:

Hour(s)

:

Minute(s)

:

Second(s)

912 Hudson Rd
Glenburn, ME 04401
Call: 1-207-884-6852
Text Only: 1-207-631-3982
250 Center St, Suite #204
Auburn, ME  04210 
Call: 1-207-884-6852
Text Only: 1-207-631-3982
US Tax Centers

 

912 Hudson Rd.
Glenburn, ME
04401

1-207-884-6852

US Tax Centers

 

912 Hudson Rd.
Glenburn, ME
04401

1-207-884-6852