The end is near, my Brothers and Sisters. The official end to this tax season is one week away on May 17th, 2021.
My regular clients have all been extended. We will forward a copy of the extension to you. Nothing needs to be done on your end. They have already been filed.
If you are a newer client and we have contacted you because we need a Social Security Number or an updated address, please get back to us today. We want to make sure that your return is extended.
If you would like to make an income tax deposit on either your federal or state extension, please let us know. The extension extends the due date of the paper return. It doesn’t extend the date of any payment that may be due. If you owe money when the return is completed and you don’t make a payment with your extension, there will be a penalty.
Please let us know if you would like to make a federal or state tax deposit today.
Let me leave you with this.
I had a meeting with a new client last week who asked me how many of my clients had gone out of business during the pandemic. The correct answer was two. Only two.
As a direct result of my writing three times per week, you were informed about all of the new money out there to help you stay afloat. Only losing two out of a practice of 275, has to be some sort of record.
In fact, many of your businesses grew during the pandemic. As I complete the business income tax returns, I’m seeing something that I haven’t seen in years.
Many of you now have a six figure balance in your checking accounts.
Some of that is because your businesses have grown, but most is a direct reflection of having the information necessary to get The PPP, The EIDL, and The ERC.
For many of you, those balances will continue to grow because the ERC money is still flowing.
I’m very proud of the work that we have been able to do together. We took an impossibly difficult situation and turned it into a bonanza. We did what Entrepreneurs are born to do. They gave us lemons and we made merengue.
Twenty years from now when someone asks you what it was like to go through the pandemic, what will you say? Will you frown and say that it was miserable, or will you smile and say that it was the time of your life?
Time will tell. Hopefully, it was the latter.
We’re all going to get through this. Let’s get through it together.
Accounting Solutions Ltd. stands ready to complete our mission and purpose of protecting you, your family, and your business. If there is anything you need, whether you are a current client or not, you have but to ask. I’m here and I remain,
Sincerely yours,
Chris Amundson
President
Accounting Solutions Ltd.
773-267-7500
www.AccountingSolutionsLtd.com
CONFIDENTIALITY NOTICE AND LEGAL DISCLAIMER. The information contained in this email message, including any attachments, is legally privileged and confidential and intended only for the addressee(s). If you are not the intended recipient, you are hereby notified that any reading, use, or dissemination of this message is strictly prohibited. If you have received this message in error, please notify us immediately and delete this message from your system.
Although this email and any attachments are believed to be free of any virus or other defect which may affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure it is virus free. Accounting Solutions Ltd. accepts no responsibility for any loss or damage arising from receipt and use of this email.
Note that the only professional services provided by Accounting Solutions Ltd. are those specified in a written communication from our office detailing the scope of services to be rendered and the terms and conditions applicable to the engagement.