January 2012

Dear Friends and Clients,

HAPPY NEW YEAR!  We hope last year was a good year for you and that 2012 will be even better.

Yes, it’s TAX TIME and we’re getting reading for the income filing season.  If you have not already received your 2011 TAX ORGANIZER, please contact us.  Please take time to review it and fill in as much information as you can.  This helps us prepare a complete and accurate return.  Here are some items to note:

• PAPERLESS is where we’re headed.  Make sure we have your e-mail address so we can contact you and send this package to you electronically in the future.
• DIRECT DEPOSIT your refund to get it quicker.  Provide us with your current bank information.
• CONTRIBUTIONS must be supported by a cancelled check, a credit card receipt or a letter.
• FIRST TIME HOMEBUYER CREDIT is only available to service members on extended duty.
• USE TAX PA has a new voluntary entry for 6% use tax on purchases on the internet and in Delaware.
• 2013 TAX RATES are expected to be significantly higher.  Consider accelerating income from 2013 into 2012.  ALSO, consider bunching deductible itemized deductions in 2013.
• SCAM ALERT! The IRS or state will never e-mail you to request information.  Do not give anyone your personal information.

Start gathering all your information.  When you have it, you can drop it off, mail, fax or email it.  Appointments are also available if needed.  Please give us your ORIGINALS of:

• All W-2’s (wages); 1099-R (pension); 1099 INT & DIV; 1099-MISC (other income).
• Form(s) 1098 (mortgage interest) and real estate tax bills.
• Brokerage statements with COST BASIS for any securities sold, per Form 1099-B.
• Schedule(s) K-1 (income from partnerships, S-corporations, estates or trusts).
• Settlement sheets (form HUD-1) for sale and/or purchase of real estate.
• Last year’s tax return, if not prepared by us.
• Any other tax forms, notices or correspondence you received during the year.

Remember that we offer a full range of professional services and can help you with financial, estate and retirement planning, as well as health, life, disability and long-term care insurance.  In addition, our expansive list of business clients allows us to recommend a wide array of professionals in the construction, service, retail and wholesale trades.  Call if we can help you.

I again want to THANK YOU for putting your faith in me and the gang; Tina, Karen, Kim, Sharon, Barb, Amanda, Bill, Phil and Anthony.  It really means a lot.  As always, if you have any questions, please do not hesitate to give us a call.

Sincerely,
ANTHONY J. MASCHERINO