Paying taxes has nothing to do with a person’s age. The requirement for filing tax returns primarily depends on a person’s income.The IRS’ answer to this question includes several easy-to-understand examples.

Individual states have their own criteria, but are also based on income.

The very general, too simply stated reason for paying taxes is to fund services we receive, or that are carried out on our behalf. Local property taxes help to pay for police and fire departments, schools, etc. State and federal taxes help to pay for roads, bridges, the military, education, health & human services, environmental protection, Congress, tax credits awarded to families or businesses, and so much more.

These two links, for A & E’s History Channel and Minute MBA from OnlineMBA, do a great job of taking the mystery out of why we pay taxes.

Most likely. Call (207) 582-1040.

Find general information on standard mileage rates:
For 2022
For 2021
For 2020 and prior years

Yes, we are accepting new clients. For more information, please refer to the FAQs page, under “Office & Tax Appointment Information?”.

Good question! The IRS has a list of FAQs and answers. You may also want to talk with a staff member to learn how the reporting may affect you. Even when there is no actual tax due, a tax return may be required.

• IRS issues, re: Starting a Business?
• Being Self-Employed?
• Small Business issues?
• What Can I Deduct?
• Filing Business Taxes?
• Doing Business in Maine?
• Maine Sales Tax?
• Payroll?
  • Employment Taxes
  • Outsourcing Payroll Duties and Reporting
• The Small Business Administration is also a good resource.
  • 5 Ways to Separate Your Personal and Business Finances

• You came to the right place!  The IRS has a customizable calendar for businesses and the self-employed.
• Maine Revenue Services also has a page that lists pertinent dates.

You may find the answer to your question in our FAQs – “Paying Your Taxes?” page.

That’s a good question.  The IRS encourages doing a Paycheck Checkup part way through the year, and provides an online calculator.

Everyone should check their withholding

It’s important to revisit your tax withholding, especially if major changes from the Tax Cuts and Jobs Act affected the size of your refund this year.  Even if you did a Paycheck Checkup last year, you should do it again to account for differences from TCJA or life changes.  A Paycheck Checkup can help you see if you’re withholding the right amount of tax from your paycheck.  Too little could mean an unexpected tax bill or penalty.

Try the new (August 2019) Tax Withholding Estimator to do a Paycheck Checkup.  See also IRS Tax Reform Tax Tip 2019-108.

BUSINESSES are also encouraged to do an assessment of their income tax situation throughout the year to determine whether their estimated tax payments are sufficient.

Did we prepare your tax return?

YES     We can print, mail, fax or email a copy of the tax return to your bank, a college or somewhere else.  Perhaps someone else will be picking up the tax return for you? Federal law requires us to obtain your specific, written consent prior to fulfilling your request.  If the return is to be faxed or sent via email we’ll need the Hold Harmless Agreement signed as well.

• • • • Consent Form
      • Hold Harmless Agreement

 

NO      You can request a copy from the IRS.

• • • • Online request & receipt, or online request for mailed copy of return.
      • Get Transcript FAQs
      • Traditional, paper request, IRS Form 4506

Don’t panic. Call us at (207) 582-1040.

You and your neighbor may have different situations when it comes to income tax. Your neighbor may have more dependents, had more money withheld for income tax, has a deferred compensation plan (i.e., 401(k)/403(b)) at work, an IRA, a loss on an investment, more charitable deductions, medical bills, etc. Few tax situations or tax returns are exactly alike.

See the Tax Retention Guide for specifics on personal documents, business documents or documents related to other, special circumstances.

Yes. We prepare tax returns for all states requiring a return.

IRAs, in general, are a good way to save money for your retirement.  However, what’s best for you depends on your lifestyle, expectations, retirement plan at work, deferred compensation account, savings, etc. You should discuss this issue with your Tax Professional.

To get a head start on the discussion, look at the Retirement tab in the Financial Calculators section of our web site, and look at these two links:

• IRAs – Getting Started

• Traditional vs Roth Comparison

From the Energy Star web site:

Tax credits for residential energy efficiency have now expired.

The tax credit for builders of energy efficient homes and tax deductions for energy efficient commercial buildings have also expired.

The tax credits for residential renewable energy products are still available through December 31, 2021. Renewable energy tax credits for fuel cells, small wind turbines, and geothermal heat pumps now feature a gradual step down in the credit value, the same as those for solar energy systems.

While the tax credits for residential energy efficiency have expired, you can still save money and energy in your home by using ENERGY STAR certified products. Products that have earned the ENERGY STAR are independently certified to save energy, save money and protect the environment. Use up to 30% less energy in your home by outfitting with ENERGY STAR certified products available across more than 70 categories.

*Disclaimer: The tax credit information contained within this website is provided for informational purposes only and is not intended to substitute for expert advice from a professional tax/financial planner or the Internal Revenue Service (IRS).

We encourage people to check the EnergyStar web site for updates.  Tax credits are not available for EnergyStar appliances or CFL light bulbs.  However, although not tax credits, EnergyStar Partners sometimes have special offers/rebates. When buying a new appliance, you may want to check the “Rebate Finder” first.

Maine residents! There may be other energy-related incentives available via Efficiency Maine.

• • Maine’s Department of Environmental Protection web site includes information on recycling CFL bulbs, and the proper disposal of CFL bulbs.

Do you like having a new car every two or three years? Do you drive a great deal? Review the Automobile tab in the Financial Calculators section of our web site.

Thankfully, this is not a frequent question, but not uncommon, either.  Scamming may well be the intent of a telephone caller.  They often threaten the taxpayer with immediate arrest unless they pay, right away.

Some scammers send emails (“phishing”), trying to trick the recipient into disclosing their email usernames and passwords.  The IRS writes, “The email is awkwardly worded. It reads: ‘We kindly request that you follow this link HERE and sign in with your email to view this information…’”

A general rule is to NEVER open a link or any attachment from a suspicious email.

The IRS, the State of Maine Attorney General’s Office, the Federal Trade Commission and the U.S. Treasury Inspector General for Tax Administration all have warnings, advice and/or ways to report your experience:

• Here’s how the IRS contacts taxpayers, IRS Tax Tip 2018-111
• Here’s how taxpayers can protect themselves from scammers, IRS Tax Tip 2018-102
• Taxpayers should know the telltale signs of a scam, IRS Tax Tip 2018-86
• Taxpayers should stay alert because scammers don’t take a summer vacation, IRS Tax Tip 2018-85
• Common Consumer Scams – Keep These Tips in Mind, State of Maine’s Office of the Attorney General
• IRS Impersonation Scam Reporting, U.S. Treasury Inspector General for Tax Administration
• FTC Complaint Assistant, Federal Trade Commission
  • FTC National Do-Not-Call Registry