Thursday, May 26th, 2022

Income tax return preparation


Advice from an expert
As you can imagine, we know how to do your tax return both more accurately and faster than almost anyone. Who else on the planet knows what financial information is supposed to be on the return but your financial planning team?

Every spring you want to collect all those slips and roll up the sleeves to take a stab at the latest rule changes made by our tax policy makers and collectors. Few people enjoy doing tax returns and for many it is an annual chore they would much rather delegate.

Fortunately, your friendly neighborhood financial planning team has leaped onto the scene to help you! Starting with the 2007 tax year, those eligible for pension splitting find it almost impossible for optimal paper returns to be filed.

How To Get It Done?
When you think you have all your data, take it all out of envelopes and sort it according to

a) income;

b) deductions;

c) credits for each filer.

Write us a message with any comments or questions and mail it or drop it off at the office. If you have not previously  done so, HollisWealth requires us to have you sign a disclosure form to clarify that HollisWealth is not responsible for tax prep work.

Normally it will be completed within one or two weeks. We will email a PDF copy and ask you to quickly review the return and ask for your signed approval to file it electronically. If you have a more complicated return we can meet in person to review the return before submitting it. Finalized returns are printed to a digital PDF file and sent to clients for storage. This vastly reduces paper consumption and mailing costs and makes archiving
easy. We keep a copy of this if you need it in future years but we do not keep a copy any of your slips or other papers.

If you have business or rental income, we can provide a shared online spreadsheet you can use for tracking income and expenses -if you do not use this make sure to add up your receipts for each category of expense before dropping off papers.