Final filing deadlines approaching for Trust tax returns (September 30), Individuals and C-Corporations (October 15).

The September 15 deadline passed with little fanfare, thankfully. Deadline dates are always stressful due to details which are often difficult to control, like technology, travel schedules, illness and death, etc.  

We are relieved that deadline is behind us now.

All Pass Through Entities (Partnerships and S-Corporations) that have not filed a 2021 tax return are now past due and incurring significant penalties per owner, per month.

At this writing, we still have more than 100 tax returns to finalize by the upcoming deadlines. While most are well underway, a few have yet to be started. This time of year, the biggest challenge we encounter is obtaining details for the last few items to complete a return.  

Please help us, help you. Watch your inboxes. Take our calls. Be responsive to our requests. It will save you time and money and help us meet the deadlines. 

Update on staffing.

We have been fortunate to staff to our current demand for this fall filing cycle. Now we must concentrate on the spring season. The needs have never been more challenging.

With a tight market, competition has become fierce. We witnessed that at UNM’s recent job fair…for interns!

With two and a half retirements on the horizon, staffing for this spring is proving time consuming and expensive. 

We are offering a new incentive compensation program and expanded benefits for full, part-time and seasonal professionals.

Managing the big picture and the bottom line.

Constraints often result in new, creative solutions to old problems and demand maximum efficiency. 

Many of you have read in past newsletters that we made a decision to curtail growth last summer. For the past 15 months we have limited accepting new clients to referrals from pre-qualified referral sources. That means you, our clients, vendors, and our friends and family.

Unfortunately, the demand on our time has continued to increase due to new legislation, regulations, and the general chaos both State and Federal governments have imposed on all of us.  

We are required to find new and innovative solutions. We have great colleagues to help. Going forward we will be outsourcing certain services to other experts to manage the load, yet get done what must be done.

We are investing in new technology and training and constantly re-evaluating processes to free up resources.

For the short run, we will no longer be offering dispute resolution services or litigation support. The inability to control our schedules and the demand on our time with no extra capacity, means these projects are simply no longer cost effective for our firm.  

Hopefully, changes are underway in our governments to improve their services that will help us all.  Click HERE to learn more.

Our primary goal has always been to be the best steward of the resources we have to serve our constituents well.

We will have modest rate increases. We must recover the cost of our time and knowledge.

We now serve between 700 to 800 clients annually. We employ 16 people whose families depend on us. We intend to do what it takes to continue our commitments to staff, clients, and our communities.

We look forward with optimism in serving for years to come.  

Thank you for your continued trust and confidence in our team.

Roger C, Nagel, CPA/PFS, CMA, CGMA