• While I’m still recovering from the weekend’s news that actual government workers owe over $3.5 billion in unpaid taxes, I would like to take a minute here to address you looking for the best tax preparer in Worcester who haven’t yet made the decision to use our services.

    After all, we’ve helped many Worcester (and beyond) families “make the switch” over to us, year after year. I know that you’ve probably established a rhythm with your current provider (even if it’s not a “good” rhythm), and that you may dread the prospect of having to teach a new tax preparer about your family’s financial dreams and goals.

    (By the way, are you using a tax professional who cares about those?)

    Which is why this blogpost would be for you. (And if you’re already using us, then you can safely ignore this particular message, and skip to the end where we do have some information for you, perhaps merely as a reminder.)

    Many Worcester families are pulling together their paperwork to deliver to their preparer this week … and before you do that with your existing preparer, I’d like to give you a reason to try us out.

    I’d rather not “bad mouth” other tax accountants in the area, but suffice to say that we’ve had to do our share of re-doing other accountants’ work. In some cases, we’ve recovered significant sums during an amendment process, by reviewing an old return (from the last 3 years), and taking advantage of ethical and legal tax credits and deductions which other accountants don’t utilize.

    But even more than that … we want to give you a gift:

    Make the “switch” to Jay Walia for your 2012 tax filing — and receive a complimentary post-season tax planning session.

    ($250 value)
    First TEN new clients only


    Call us now, and we’ll book your tax planning session for sometime in May or June (after the chaos of tax season subsides), and we’ll work PRO-ACTIVELY on your asset and accounting mix to ensure that your 2013 returns are as well-protected from Uncle Sam’s grasping hands as possible.

    (508) 753-3532
    (First ten new clients only)

    Now, back to our regularly-scheduled programming…

    Walia’s Tax Time Checklist (Again)
    In early January, I sent a “checklist” email to our list (and if you’re not receiving our weekly emails, you really should fill out the quick form here on this page to receive a copy of one of our free reports — we’ll add you to our list as well, so you’ll be the among the first to receive important updates and exclusive offers from us), and it was one of our most popular messages. I guess it was handy!

    Putting together this list may run slightly counter to my business goals — after all, we do get paid to do this on behalf of clients! That said, our mission is to ensure that EVERYONE in our local Worcester area saves the most possible when the IRS comes calling! Some of these may seem small, but trust me when I say that they add up.

    So…even if for some strange reason you won’t be using our cost-effective services this year, and because we’re getting so close to April 15th, here it is again for you: what you’ll need to prepare your taxes…

    Personal Data
    Social Security Numbers (including spouse and children)
    Child care provider tax I.D. or Social Security Number

    Employment & Income Data
    W-2 forms for this year
    Tax refunds and unemployment compensation: Form 1099-G
    Miscellaneous income including rent: Form 1099-MISC
    Partnership and trust income
    Pensions and annuities
    Alimony received
    Jury duty pay
    Gambling and lottery winnings
    Prizes and awards
    Scholarships and fellowships
    State and local income tax refunds
    Unemployment compensation

    Homeowner/Renter Data
    Residential address(es) for this year
    Mortgage interest: Form 1098
    Sale of your home or other real estate: Form 1099-S
    Second mortgage interest paid
    Real estate taxes paid
    Rent paid during tax year
    Moving expenses

    Financial Assets
    Interest income statements: Form 1099-INT & 1099-OID
    Dividend income statements: Form 1099-DIV
    Proceeds from broker transactions: Form 1099-B
    Retirement plan distribution: Form 1099-R
    Capital gains or losses

    Financial Liabilities
    Auto loans and leases  (account numbers and car value) if vehicle used for business
    Student loan interest paid
    Early withdrawal penalties on CDs and other fixed time deposits

    Personal property tax information
    Department of Motor Vehicles fees

    Gifts to charity (receipts for any single donations of $250 or more)
    Unreimbursed expenses related to volunteer work
    Unreimbursed expenses related to your job (travel expenses, entertainment, uniforms, union dues, subscriptions)
    Investment expenses
    Job-hunting expenses
    Education expenses (tuition and fees)
    Child care expenses
    Medical Savings Accounts
    Adoption expenses
    Alimony paid
    Tax return preparation expenses and fees

    Self-Employment Data
    Estimated tax vouchers for the current year
    Self-employment tax
    Self-employment SEP plans
    Self-employed health insurance
    K-1s on all partnerships
    Receipts or documentation for business-related expenses
    Farm income

    Deduction Documents
    State and local income taxes
    IRA, Keogh and other retirement plan contributions
    Medical expenses
    Casualty or theft losses
    Other miscellaneous deductions

    While some of these statements, and their ensuing deductions, may seem like “pocket change”…just a few minutes of effort can pay a nice hourly rate! And, better in YOUR pockets than in Uncle Sam’s, right?

    So, I hope this helps.

    To your family’s financial and emotional peace…