Specializing in reducing taxes; business entities accounting, planning and tax preparation; planning for your lifetime and your estate; helping trustees with trust administration, accounting and taxes.
Pictured from left: Cindy Hart, Don Ralls, Steve Ralls, David Lightfoot, Kathy So, and John "Jack" Lightfoot
Dear Clients and Friends,
Welcome to our website! Tax season 2019 has launched. The IRS is open for business. We hope that they are prepared for all of the returns that are now being filed. It will be an interesting filing season with all of the new federal tax law changes and lack of California conformity to the new federal rules.
Our returning clients’ tax organizers have all been mailed as of January 18th. Keep collecting all of your year end tax statements as they arrive. It is best to set up a special folder to keep tax statements including Forms W-2, 1099 and other tax deduction items that you are receiving. You can use the tax organizer to help you determine when you have received all of your reports for investments that were held in the prior year. You can check the “2017 Amount” column to see if you had an entry in 2017. This is a clue to look for the 2018 income or deduction item. For anything that you did not receive a tax statement on, you can fill in the income and deduction sections of the organizer. When your organizer is complete, bring it on the day of your tax appointment along with your year end tax statements mentioned above. If you do not need an appointment, just mail the organizer and year end tax statements to us. You may also drop them by our office and say hi to Debbie.
Federal tax laws changed dramatically for 2018. California has not conformed to the federal tax changes. For this reason, we still need all of the itemized deduction expenses and other data for the California tax return even if you will now use the larger standard deduction for your 2018 federal tax return.
If you need assistance, please contact us. This is critical before you make any major financial decision. We are here to help you avoid mistakes and take advantage of opportunities. All of us at Lightfoot, Ralls & Lightfoot, C.P.A.s, L.L.P. look forward to helping you with your financial needs.
Please check out the Our Resources tab below for links to many short but helpful articles on finances and tax planning. You may subscribe to our free E-mail newsletters at the right side of this page for a discussion of timely tax topics as well as many other tax planning tips
Wishing you all the best,
John, Don, David, Di, Cindy, Katherine, Steve, Debbie, Tom and Suzanne
You can also send us a message directly through the contact page of this website.