updated on:
January 11, 2020

ICS Worksheets
Please download any and all helpful worksheets from the links on our home page.

Beware of Scams
Shield yourself from tax scams and fraud. The IRS will never email or call you.

This is the second year of the 'new tax law'.
The standard deduction is $12,200 for single filers and $24,400 for married couples filing jointly. The higher standard deduction for the elderly, the blind, and persons with a disability will remain.

The gift-tax exclusion is $15,000 per recipient. You (and also your spouse) may give up to this amount per person without incurring a tax. This may be put tax free into 529 education plans. 'Superfunding' the 529 education plans is an option - up to five years (a maximum of $75,000 / $150,000) can be put tax free into the plans.

In addition to the annual gift tax exclusion, there is a 100% exclusion when you make direct payments for someone's medical bills and/or education. The payments must be made directly to the health care provider or educational institution.

Upon reaching age 70 1/2, the IRS requires you to start taking distributions from your tax-deferred retirement plans. Failure to do this results in a 50 percent penalty. Withdrawals from Roth IRAs are not taxable, and withdrawals are not necessary.

A qualified charitable contribution of up to $100,000 made directly from your retirement account may be excluded from income and can be used as a deduction.

If you are self-employed keep good records. All ordinary and necessary expenditures are tax deductible. A dedicated bank account and credit or debit card are important.

Consider "bunching into a particular year" charitable donations and/or pre-planned medical expenses.

Shield yourself from tax scams and fraud. The IRS will never email or call you.

Welcome Jodi Girard!
Jodi has been preparing taxes for twenty-five years. She is a licensed CPA and has a Master of Science Degree in Accountancy from Bentley University.

We know you're busy...
Feel free to e-mail, fax or mail your tax information.

Important reminders:
Please remember
We must have all your tax information by March 20th, in order to guarantee an April 15th filing.

The IRS encourages:
Electronic filing of tax returns, direct deposit of refunds, and direct withdrawals of amounts owed. This eliminates lost returns, reduces errors, and speeds up refunds. To have your return E-filed and your refunds direct deposited into your bank account we'll need the following information:

  • (1) name of bank
  • (2) routing number of bank
  • (3) your account number

Have a Beautiful 2020!