The Blau Company, Ltd. Newsletter                                                                                                        December 2010
 Greetings!


As the end of the year approaches, here are a few things to keep in mind.  If you have had a change in marital status, income, or job and have not scheduled your year end consultation please schedule one on as soon as possible.  We would like to make sure your 4th Quarter estimate is accurate.

 

Individual tax client should expect to receive their annual organizers and client letter by the end of this month.  If you would like, you can make your appointment at any time by calling (480) 946-7732 or by e-mailing Kirstin Smith at kirstin@blauco.com.  The 2010 Tax Season schedule will be as follows:

Alan:    Monday - Saturday:  10:30am, 11:45am, 1pm, 2:15pm, 3:45pm, & 5pm.

 

Aaron:  Monday:  10:45am, 12:30pm, 1:15pm, 2:30pm, 3:15pm, 4:30pm, & 5:15pm.       

            Tuesday - Saturday:  10am, 10:45am, 12:30pm, 1:15pm, 2:30pm, 3:15pm,

                                            4:30pm, & 5:15pm.

Aaron will be taking appointments on in the Gilbert office on Thursdays; these appointments will still be scheduled by calling our Tempe office.

 

Monica:  Monday:  11am, 12pm, 2pm, 3pm, 4pm, 5pm, & 6pm.

             Tuesday - Saturday:  10am, 11am, 12pm, 2pm, 3pm, 4pm, 5pm, & 6pm.

 

Thomas:  Monday:   9am, 11am, 1pm, 2pm, 3pm, 4pm, & 5pm.

               Tuesday - Friday:     9am, 10am, 11am, 1pm, 2pm, 3pm, 4pm, & 5pm.

               Saturday:  9am, 10am, 11am, 1pm, 2pm, & 3pm.

 

If your situation has not changed significantly from last year, we encourage you to drop off your information as soon as you have it together.  We will follow up with you telephonically to discuss any missing information as well as the result.  We encourage our clients who drop off their tax returns to meet with us at their leisure throughout the year. 

 

For all our business clients, now is the time to give us all your bookkeeping information.  Please make sure we have all your bank and credit card statements, and copies of checks.

 

Again, we look forward to seeing you this upcoming Tax Season and wish you and your family a Happy Holiday Season!



Sincerely,

 

Kirstin Smith - Client Coordinator

 
Important Dates for October & November
Dec.   2     Hanukkah Begins
Dec. 16     Toys for Tots Dropoff Deadline (see below)
Dec. 21     Winter Begins
Dec. 24     Office Closed
Dec. 25     Christmas Day
Jan.   1     New Year's Day (Office Closed)
Jan. 15     4th Quarter Estimate Due
Jan. 18     Martin Luther King Jr. Day
Jan. 31     4th Quarter Payroll & 1099's Due
Loan Modification Success!
We regularly consult our clients on foreclosure and short sale issues, which includes hearing many horror stories about the loan modification process.  Recently, we heard a success story from a client, and thought it would be good to pass along her recommendations:

"suggestion that finally worked for us and might work for others:
call your senator's office and request that they file an inquiry with either...

(1) the federal overseer of the currency if the loan is with a bank;
or
(2) the federal trade commission if the loan is with a private company.

Forty-eight hours after we requested that one person be assigned to our file and that we have their direct phone number, it was accomplished.  then two weeks later our home loan was modified."
 
We are fortunate to learn from our client's experiences, and be able to use their experience to help you.  This is just one part of the value that you receive when you are a client of The Blau Company!
Arizona State Tax Credits
The State of Arizona allows for a dollar-for-dollar reduction in your state income tax liability for contributions to qualifying schools and charities.  We support these tax credits wholeheartedly.  For more information, please click the links below, or contact our office.

                                                  Single/
Tax Credit List                              Head of Household          Joint
Working Poor Tax Credit                         $200                    $400

Public/Charter School Tax Credit           $200                    $400
Click Here!

Private School Tuition Organization        $500                  $1000

Arizona Military Family Relief Fund          $200                   $400       
Click Here!                                                                           
 Total you can donate:                       $1100                 $2200

 

More information about the school programs can be found by clicking here.

 

Please make your AzMFRF contribution AS SOON AS POSSIBLE.  This fund caps its annual contributions at $1 million dollars.  Funds received in excess of this amount will be returned to the donors. 

 

Finally, in order to take full advantage of the tax credits, you must have a sufficient tax liability.  To check your liability, pull out your Arizona Form 140 Income Tax Return and check line 25 or contact our office. 

Protecting Your Social Security Number with an EIN

New 1099 requirements being placed in effect starting January 1, 2012 put sole proprieters and single member LLCs in the akward position of having to disclose their social security number to many, if not all, their customers. 

 

This is a very simple process that will help protect your identity by substituting your social security number with an employer identification number.

 

You would need to file out a Form SS-4 (Application for Employer Identification Number).  On item 10, Reason for Applying, check the box for other and specify 1099 purposes.  The EIN can be applied for in one of the following ways:

 

  1. The application can be done over the phone (complete form first) by calling        1-800-829-4933.  You will receive your EIN while on the phone with the IRS.

 

  1. The application can be completed on the internet.  Go to IRS.gov/, then click on "Apply for Employer Identification Number (EIN) Online" under Online Services (located at the bottom left corner). Then click on "APPLY ONLINE NOW" located toward the bottom of the page.  This will get you to the "EIN Assistant" and click on "Begin Application" that will help you through the application.  On the question "Why is the Sole Proprietor requesting an EIN?" select "Banking Purposes".

 

  1. The completed application can be faxed to the Internal Revenue Service at 1-859-669-5760.  Your EIN will be sent to you within 4 business days.

 

  1. The completed application can be mailed to:  Internal Revenue Service Center, Attn:  EIN Operation, Cincinnati, OH 45999.  Your EIN will be sent o you in 4 - 5 weeks.

 

  1. You can complete the application with us, and we will take care of obtain your EIN for you.

 

Which ever way you are going to obtain an Employer Identification Number, you can call us at any time for help.  Again, you may not be required to obtain the EIN, but it may be best for you to do so.

Toys For Tots

Felicia Mussey & Rich Vandermolen, the owners of Family Life Financial (who we sub-lease our Gilbert office from) are proud supporters of the US Marines Toys for Tots program.

 

From The Toys for Tots Foundation:

 

MISSION:
The mission of the U. S. Marine Corps Reserve Toys for Tots Program is to collect new, unwrapped toys during October, November and December each year, and distribute those toys as Christmas gifts to needy children in the community in which the campaign is conducted.

GOAL:
The primary goal of Toys for Tots is to deliver, through a new toy at Christmas, a message of hope to less fortunate youngsters that will assist them in becoming responsible, productive, patriotic citizens.

OBJECTIVES:
The objectives of Toys for Tots are to help less fortunate children throughout the United States experience the joy of Christmas; to play an active role in the development of one of our nation's most valuable resources - our children; to unite all members of local communities in a common cause for three months each year during the annual toy collection and distribution campaign; and to contribute to better communities in the future.

ACTIVITIES:
The principal Toys for Tots activity which takes place each year is the collection and distribution of toys in the communities in which a Marine Corps Reserve Unit is located.  In communities without a Reserve Unit, the campaign can be conducted by a Marine Corps League Detachment or group of men and women, generally veteran Marines, authorized by Marine Toys for Tots Foundation to conduct a local Toys for Tots campaign.  Local Toys for Tots Campaign Coordinators conduct an array of activities throughout the year, which include golf tournaments, foot races, bicycle races and other voluntary events designed to increase interest in Toys for Tots, and concurrently generate toys and monetary donations.

 

If you would like to participate, please bring a new toy to either our Tempe or Gilbert offices by December 16. 

1204 East Baseline Road, Suite 104           Tempe, Arizona 85283           Tel (480) 946-7732            Fax (480) 345-0033

690 E. Warner Road, Ste 105                       Gilbert, AZ 85296                   Tel (480) 788-7732            Fax (480) 355-6308