Tax preparation and planning are the result of our mutual efforts throughout the year. Getting and staying organized with your finances is key to a smooth tax preparation process. The completion of your returns can be an analytical tool that will assist you with your overall financial planning. Tax planning means being proactive and anticipating changes in the upcoming year.
Tax Preparation and Planning
One Minute to Preparing Your Tax Documents
Your 1040 tax return is the first step in a mutual partnership that goes well beyond April 15th. Tax preparation and planning is a continual and strategic process between you and your CPA, who is uniquely qualified to evaluate and recommend solutions for your financial goals.
Start Planning Today
Today is the day to start on a successful path to tax savings and getting your financial house in order. Tax preparation is the starting point. Financial planning requires consistent year-round attention and effort.
Top 5 Reasons to Work with a CPA
Keep ahead of changing tax laws
Gain objectivity on your finances: What's the view from "30,000 feet up?"
Optimize investments, retirement planning and college savings
Save time and money, while reducing the stress of your busy life
Embark on your "Personal Financial Road Map
Julie-Anne Moretti CPA PLLC
Licensed Certified Public Accountant with more than 20 years of experience.
Boutique-style CPA firm with time for you and your questions.
Conveniently located in Cary, NC
Frequently Asked Questions
What services are offered?
I offer tax preparation, tax amendments, financial planning and investment consultation services.
What does a CPA do?
Many people think a Certified Public Accountant only does tax preparation. However, CPAs will also help you with financial planning, investments, maintaining your books and records, and many other personal, financial, and business services.
What should I do to prepare my documents for my CPA?
Start organizing your documents early.
Request your annual tax planner from me as soon as your W-2 arrives. This will guide you in gathering all the documents I will need to prepare a complete and accurate return.
As soon as your W-2 arrives, set up a folder, and add documents as they arrive. Spouses should work together so the entire task doesn’t fall to one spouse.
Review your prior year’s tax return to recall sources of income and expense you had last year.
Consider whether you had a significant life event for the tax year. For example, did you get married, divorced, have a baby, buy or sell a house, start a small business, change jobs, lose a family member? Any one of these events can affect your tax situation.
When should I contact you for tax preparation?
As soon as possible! A good result begins with planning and organization. Call me at 919-244-1121 or email me at email@example.com. You can also reach me by filling out the contact form on the Contact page of this website.
Why should I use a CPA for my taxes?
While many people think they handle their own taxes, most people benefit from using a professional. A CPA is your Trusted Advisor. Professionals engage in ongoing, annual training throughout their career. A professional preparer has objectivity and takes the worry out of the process for you.
What can I do during the year to help make annual tax preparation easier?
Staying organized and tending to your financial tasks regularly makes for no surprises when tax season arrives. I can help you achieve the level of planning that is right for you.
It is highly recommended that you stay in touch with me during the calendar year. You should keep me apprised of developments so I can assist you with appropriate planning before the tax filing due date. New sources of income and expense, tax law changes, and unexpected situations highlight the need for a mid-year review.
How can you help me with my complex personal finances?
Individuals with complex personal finances can benefit from having me create a Roadmap for them. A Roadmap is detailed, individually-tailored financial plan. When was the last time you really looked at your monthly investment statements, reviewed your beneficiary designations, consolidated your bank accounts, or looked at your monthly bills with a critical eye? Have you done legacy planning and discussed with adult children? Is your financial paperwork summarized in a way that another, responsible person could understand it in the event of an emergency? Choose a CPA to perform this critical service for you.
How can you help my small business?
A CPA can assist you with the financial planning of your small business by establishing monthly, quarterly and annual processes to organize and track your business. I can help you get organized and get started on a good path. If you’re already in business, I can help streamline and create a financial plan, update the process for maintaining your books and records, and produce reports that will help you understand your business in way that will assist in decision making.
Is it better to use the standard deduction or itemize my deductions?
Your tax situation is unique to you, as well as the tax year being reported, and the tax laws in effect for that tax year. When submitting your documents for tax preparation, you should gather all documents and submit them to me. You should submit all available information for your deductions, and your return will be prepared using the method that gives you the best outcome.
What are some of the Miscellaneous Deductions that are no longer deductible?
Some of the expenses that are no longer deductible are investment advisory fees, tax preparation fees, unreimbursed employee expenses such as uniforms, union dues, and some others.
Can I make an appointment in advance if I don’t have all my documents yet?
Partial submission of documents serves little purpose. Generally, it is recommended that you collect all your documents before submitting them to me. Make sure you have thoroughly reviewed the checklist, looked at last year’s returns, and confer with your spouse to make sure you have all the documents assembled before submission. This will make for an efficient and timely preparation, saving us both time, effort and cost.
What documents are the most often forgotten when submitting tax returns?
Examples of some of the documents many clients forget to include are:
Cost basis information for investments – please review each line item on your 1099-B brokerage statement to make sure each investment sold during the calendar year includes the date and amount. If you transferred your account to a new broker at any time, the cost basis information may not have transferred over and you will have to locate the information before submitting your documents.
Child care expenses – you should list the expenses for each child separately and include:
Name of care facility, the facility’s tax ID#, full address with zip code and the amount
Your child’s W-2 – if you dependent child worked during the year, they might need to file a tax return
Income and expenses for your rental property
Income and expenses from self-employment
W-2’s from a part-time employment
Receipts for charitable contributions of $250 or more
Totals/amounts for your non-cash charitable contributions
Foreign bank account information
If you aren’t sure of the tax treatment for a particular item, please call or email.
What other documents do I need to submit for tax preparation?
You will need to present yours and your spouse’s valid driver licenses, and the social security cards for every person on your tax returns. Please note: I cannot e-file your returns if your driver license is expired.
What is the procedure when picking up my returns?
All appointments must be scheduled in advance. You must appear with your spouse, together at the same appointment. Please make necessary arrangements for your little ones.
Payment in full is expected at pick-up and returns will not be released without payment.
Will my returns be e-filed?
Yes. Your returns will be e-filed at no extra charge. You will be notified by email when the various taxing authorities have accepted your returns.