Services   Tatiana Skovysh, E.A. Tax Professional

Dear Clients !

We would like to take an opportunity offered by this Holiday Time to extend our gracious thanks to you! We are wishing you and all those close to you a Joyous Holiday Season and a New Year of Peace and Happiness! We hope to share with you not only the beauty of the Season, future snow and winter days but joy and troubles of approaching tax season!

Originally, the IRS had planned to open the filing season on January 21, 2014. However, the recent 16-day government shut down resulted in delays in programming and testing of the IRS's tax return processing systems. The IRS expects to begin processing 2013 tax returns sometime between January 28 and February 4, 2014. The IRS reminds us that the April 15th filing deadline remains unchanged and those taxpayers can always request an extension if they need additional time to file. As usual, a few tax regulations were changed during the year. The American Taxpayer Relief Act and the Affordable Care Act bring widespread tax changes that significantly impact taxpayers.

  • For 2013 Lawmakers made permanent many tax laws we have become used to in the last years, such as $1,000 amount of the Child Tax Credit and American Opportunity (Education) Credit that were supposed to expire at present time.

  • We know that you‘re most interested in: What’s your coming season tax rate bracket? Because the changes are minimal, most of us will likely stay in the same income bracket as last year.

  • Starting in 2013, a 3.8% Medicare tax is applied against investment income and 0,9% additional Medicare taxes to individuals’ wages of high income taxpayers (more than $250,000 for married couples and more than $200,000 for single).You can still claim charitable contribution deduction in 2013. Don’t overlook the importance of giving gifts!

  • Starting January 2014, you and your family must either have health care coverage, have an exemption from coverage, or make a penalty payment when you file your 2014 tax return in 2015.

  • Starting in 2014, if you get your health insurance coverage through the Health Insurance Marketplace, you may be eligible for the Premium Tax Credit.

Listed above are only some from the most significant changes affected us in 2013 and 2014 years. We are looking forward to continuing our pleasant business relation with you. To help you to take in order your tax papers we prepared a Tax Organizer as a gift for our clients from us. To schedule an appointment, please call our office 718.645.3074 or e-mail your preferences for appointment at [email protected] in advance in January.

We are wishing you to be optimistic, successful and healthy throughout the coming year!

Best regards, Tatiana Skovysh, E.A. and the team of Accounting and Tax Services Office

Please contact us at your convenience to make an appointment at (718)645-3074