Our December issue of Tax Tips newsletter was mailed this week. This newsletter is sent to current tax and records clients, if you would like to be added to the mailing list for future editions please contact your local office. We anticipate sending this out quarterly. Below is an excerpt from the newsletter, to read the whole thing click here.
Year End Tax Notes and Reminders by Suzie Wheeler, EA - Tax Specialist
With a new year approaching, it’s time to start planning for preparation of your 2008 federal and state income tax returns. In early January, existing tax clients will be receiving the annual Yankee Farm Credit mailings. Please note that the Annual Enrollment Form has changed this year due to new IRS disclosure requirements. Although the remaining forms may appear identical from year to year, please take a moment to read the cover letter and complete the organizer. Congress passed new tax legislation four times in 2008 (even more than a typical year), and we at Yankee want to be able to maximize your available tax deductions and see that you claim all credits coming to you.
There are many changes that can occur from one year to the next which we need to be aware of when preparing your returns – dependency changes, capital asset sales and purchases, new businesses, to name a few. In addition to your returns, Yankee is willing to assist your children in the preparation of their returns. As a reminder, for preparation of the Vermont forms, we need to know the income of all residents in the household, whether claimed as a dependent or not.
For further assistance, please feel free to call a Financial Services Representative at your local office.
