April 2021 Tax & Accounting Insight

Newsletter

Message from President Josh Shilts

Happy Spring everyone! One can hardly believe that the first quarter of 2021 is already behind us. We here at Shilts CPA have been busily preparing tax returns and with all the new rules and changes to the tax code being released daily, busy learning as well! We would like the opportunity to make you aware of a couple of very important items.

  • Individual Clients – Please take this time now to sign into your portal if you have not yet returned to us your signed engagement letter for your individual tax return preparation. The engagement letter allows us to help you get your extension and/or quarterly estimated tax payments in order. It’s important to know that the IRS has extended the individual (1040) deadline and payment of any residual 2020 taxes to May 17, 2021 – however, they have not extended the due date for 1st Quarter Estimated Tax Payments – those are still due April 15, 2021 for those clients that don’t have withholdings!
  • Business Clients (of any size)– Now, more than ever, it is imperative that your accounting be in good order. We as your trusted advisors can not stress enough the importance of keeping up with the income and deductions of your business, at a minimum quarterly! Our staff is available to assist with your accounting needs including having quarterly discussions, via zoom or phone, to assist and/or adjust your payroll, spending, and/or to analyze the value(s). Are you getting a good return on investment (ROI)? Our analysis can help review and assist to be sure you are not spending $100 to save $25!

We hope that everyone receiving this newsletter is staying healthy, enjoying the spring, and loving our new portal! We encourage you to continue to provide us feedback on our services – we are here for you!

Josh Shilts, CPA/ABV/CFF/CGMA, CFE

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Tax Due Dates

Missing tax deadlines can result in heavy penalties. Click here to view all tax due dates and ensure you are to-date on what is due this month.

Shilts Speaks

Our President, Josh Shilts, is passionate about sharing his expertise. We would like to encourage you to join us at his next event.  Click here to view all events.

Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.