Q: What is a tax organizer and why do I have to fill out a tax organizer for every year I file?
Abe: The Tax Organizer is a required document that we use to prepare and final your taxes for each year you have Abacus CPAs prepare a tax return. The tax organizer verifies all of your personal information, tax documentation, and any other unreported information regarding your current year’s tax filing.
The organizer is required for every year we file a tax return because the organizer confirms information specific to that tax year. Because of so many changes that can take place with the individual or perhaps even tax law, we must verify a client’s information each year before filing a tax return.
A few good examples of this may be personal changes such as filing address due to a move, adding to your number of dependents due to either a family addition, subtracting dependents because an older dependent is now eligible to file on their own, or changes in expenses like out of pocket medical bills or contributions to a retirement account.
Some examples regarding professional changes may be the number of tax documents received in a particular year based on career changes, variation in business expenses year-to-year, or changes in what must be reported due to tax law changes.
Because of all that can change in an individual’s life in a year, let alone what tax changes may come from the government, notifying your CPA if/when these changes can take place can help you plan for any tax changes in both your personal and professional life.
At Abacus™ CPAs, our focus is you! Contact us today if you need help or more information on this valuable topic.
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