RCB Consulting Group, LLC Newsletter
 April 2011 
Greetings!

The 2010 tax filing deadline is a week away.  Are you still struggling with preparing your return?  See the tips below for some information that may help you.  Don't want to tackle this task alone?  Call us today for assistance!  
  
Sincerely,
  
Ramona Baptiste, CPA
CEO

 

Tax deadline is April 18th . . . .  

  

The IRS tax deadline for 2010 returns is April 18, 2011.  You should file your return or request an extension by this date in order to avoid penalties for late filing.

 

Failure to file or delays in filing can be costly.  If you owe taxes, filing late could increase your tax liability by 25% or more.  There is no penalty if you are due a refund; however, the deadline for claiming your refund is three years after the return is due.  Self-employed individuals must file within three years in order to receive credit towards Social Security or disability benefits. 

 

Should I file if I owe more than I can pay?

Even if you owe more than you can pay, you should file your return by the due date.  The penalties for late payments are much less than the penalties for non-filing.  For example, the penalty for paying late is 1/2 of 1 percent per month, up to 25 percent of the amount due.  On the other hand, the penalty for filing late is generally up to 25 percent of the amount owed.  So as you can see, the choice is simple.  File now and work with your tax professional to investigate the IRS' options such as installment payments and Offers in Compromise to help you if you cannot pay your debt in full.  Filing on time shows positive intent, and may qualify you for these options.

 

What do I need to file my return?

Call us today for filing assistance.  Below is a listing of some common information needed to file:

 

  Forms W-2 - These are the forms you receive each year from your employers showing your wages.

  Forms 1099 - These are forms you receive from banks and other financial institutions showing your interest and dividends. Form 1099s also report self- employment income and disbursements from retirement accounts.

  Social Security Numbers for your children age one or older and any other person whom you claim as a dependent.

  A copy of the last tax return you filed.

  Information on expenses you want to claim on your return, such as itemized deductions:

  Mortgage interest statements

  Real estate taxes paid

  Charitable contributions and donations

  Personal property tax records (i.e. ad valorem tax)

  Student loan interest

  Higher education tuition payments

  Child care expenses

  Business income and expenses

  Medical expenses

 

What if I have not filed in several years, or I have received correspondence from the IRS?

As experienced tax professionals, we can assist you in obtaining transcripts and/or past returns from the IRS, and filing any missing returns -- no matter what state, or what years you are missing.

 

RCB Consulting Group can help you . . . .

We can assist you with all of your tax needs and make filing taxes convenient for you.  Call us today for an appointment. 

 

Sincerely,

 


Ramona Baptiste, CPA
RCB Consulting Group, LLC

In This Issue
Tax deadline is April 18th
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Ramona Baptiste

Ramona Baptiste is a Certified Public Accountant, licensed in the state of Georgia with over 20 years experience in various financial and leadership roles in both the nonprofit and corporate sectors.   

 

RCB Consulting Group, LLC was founded as a result of Ms. Baptiste's vision to serve others.  She is passionate about nonprofits and small businesses because of the benefits they bring to our community.  As a result, the goal of RCB Consulting Group, LLC is to focus a large part of its practice around nonprofit and small business
 development.

  

Ramona currently serves on the board of directors of Dreamhouse for Medically FragileChildren, Inc. 

 

A partial list of services provided is . .

  Tax preparation 

  QuickBooks consulting

   Workshops & training

   Strategic planning

   Board development  

   Grant writing

 

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