Gearing up

* File a new Form W-4 if you claimed exemption from income tax withholding in 2016.

* Furnish Forms 1099-B, 1099-S and certain Forms 1099-MISC to recipients.

February 28

* File Forms 1096, 1098, 1099 (except Form 1099-MISC reporting non-employee compensation), and W-2G if you file paper forms.

> Other important dates

January 2018

Happy New Year! There's nothing like the get-up-and-go spirit that takes hold upon turning a new leaf. Join us in gearing up for the coming tax season!

Individuals

Preparing for Your Tax Appointment: Get Organized, Save Time

Did tax time come around sooner this year? If 2018 snuck up on you, now is a good time to start gathering and organizing everything you'll need for your tax appointment. > Get started

Do You Need $1 Million To Retire? Maybe

A look at what seniors currently spend on housing, transportation, food, and clothing yields a baseline. Then add home repairs, utilities, healthcare, long-term care, and you have a more realistic picture. > The numbers

Businesses

Employer Identification Number: When Do You Need One?

Sometimes you do, sometimes you don't. In part it depends on whether you have employees. And if you already have one, do you need a new one when you change the name of your business? > Quick answers

Automobile Expenses: Deduct Standard Mileage Rate or Claim Actual Expenses?

Claiming actual expenses may require upping the ante on your recordkeeping practices. But the resulting deduction may be worth it. Or maybe the easier standard mileage rate suits you better. > You decide

New year, new rates

* Gross Receipts Tax rates increased for all of Santa Fe County. > See the new rates here

* Get the details on minimum wage changes as well as the latest standard mileage rates that take effect on January 1, 2018. > Click here

Call our office at 505-984-0646 to schedule your tax appointment.