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From: George Dimov <george@dimovtax.com>
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To: SmartOne Inc <habib@smartonegroup.com>
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 Content preview:  Hi! We are always thinking about ways to reduce taxes for
   clients. In this email, I am focusing on reducing stress having to do with
    deadlines. 😎 Today’s topic is extensions. Each year, 10 million Americans
    file an extension to get more time to file their returns rush-free. However,
    I have noticed that many other taxpayers are afraid of filin [...] 
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Mime-Version: 1.0

Hi!

We are always thinking about ways to reduce taxes for clients. In
this email, I am focusing on reducing stress having to do with
deadlines. =F0=9F=98=8E

Today=E2=80=99s topic is extensions. Each year, 10 million Americans file
an extension to get more time to file their returns rush-free.
However, I have noticed that many other taxpayers are afraid of
filing an extension.

Here I will go over the main concerns related to extending your
returns:

Will I be penalized for filing an extension?

No. Filing an extension is a standard routine process, especially
for late-season filers or those with a complex tax situation.

That said, if you know you will owe, we must post a conservative
estimate of your tax due. This means that yes, you should overpay
your tax at the time you extend. Failing to do so is the only way
you will have penalties from an extension.

The extended deadline is then Oct 15th, but any clients on
extension with our firm are all completely done well ahead of
that.

Remember, since filing an extension does require a conservative
estimate of taxes to be paid, we do require that we extend at
least 2 weeks prior to any major deadline. This gives us enough
time to roughly compute what you should post.

If I have overpaid, will I get a refund?

Absolutely. The IRS refunds overpayments using the same direct
deposit process as any normal return.

What situations lead to an extension?

* Later-season filing is the most common reason. Most established
firms start requesting extensions in the final 4-6 weeks to the
deadline. The larger =E2=80=9Cbig 4=E2=80=9D and regional firms extend as a
matter of course even early in the season.
* Many taxpayers that receive K-1s have to extend just because
many partnerships do not send the K-1 form until Aug or Sep.
* Those with sophisticated returns or complexities, such as
multiple income sources
* Clients with a business that do not have their books ready or
others with crypto that have not finalized their 8949 forms.
* Taxpayers that have prior year issues or strategy that must be
addressed but are arriving late-season, such as situations with
prior year depreciation, cost segregation, wash sales, state tax
allocation questions, letters from the IRS, etc.
* Essentially, if you have a late or complex filing & do not have
a plan in-hand with clean books & backup ready-to-file by March
1st any given year, most firms, large and small, will suggest
that you post estimates & go on automatic extension.

If it is so great, how come I have not extended before?

I have found that many clients are afraid of the extension
process through not having done one before. We handle the entire
process from end to end, so there is nothing to fear. It actually
is highly advantageous to extend because it allows the return to
be filed in the less busy period, which opens the door for
detailed discussion & tax planning for future years to be
completed directly within the context of the same session.

How does the extension process typically work?

* Client provides documents
* We will run a rough computation of the return to see if you may
possibly owe
* We provide estimated tax amount based on the computation
* You can post that amount, another amount, or none at all. You
can have us post the payment or you can do so yourself online at
irs.gov/payments
* You are all set! Then you hang tight until we get to your
return

I hope this was helpful and informational! If you have questions
about this or need help with any accounting-related task, please
contact me by replying to this email.

For last-minute extension requests, please let us know by 7 pm
Mon evening at to check for possible open spots. We are past our
internal deadline but will do our best, where possible.

--

George Dimov CPA

www.dimovtax.com

(833) 829-1120 toll free

=E2=80=8B
=E2=80=8B

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uto"><tbody><tr><td>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">Hi!</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">We are always thinking about ways to reduce <strong>taxes</strong> for cl=
ients. In this email, I am focusing on reducing <strong>stress</strong> hav=
ing to do with deadlines. =F0=9F=98=8E</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">Today=E2=80=99s topic is extensions. Each year, <strong>10 million</stron=
g> Americans file an extension to get more time to file their returns rush-=
free. However, I have noticed that many other taxpayers are afraid of filin=
g an extension.</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">Here I will go over the main concerns related to extending your returns:<=
/p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
"><strong>Will I be penalized for filing an extension?</strong></p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">No. Filing an extension is a standard routine process, especially for lat=
e-season filers or those with a complex tax situation.</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">That said, if you know you will owe, we must post a conservative estimate=
 of your tax due. This means that yes, you should overpay your tax at the t=
ime you extend. Failing to do so is the only way you will have penalties fr=
om an extension.</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">The extended deadline is then Oct 15th, but any clients on extension with=
 our firm are all completely done well ahead of that.</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">Remember, since filing an extension does require a conservative estimate =
of taxes to be paid, we do require that we extend at least 2 weeks prior to=
 any major deadline. This gives us enough time to roughly compute what you =
should post.</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
"><strong>If I have overpaid, will I get a refund?</strong></p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">Absolutely. The IRS refunds overpayments using the same direct deposit pr=
ocess as any normal return.</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
"><strong>What situations lead to an extension?</strong></p>
<ul class=3D"unordered_list" style=3D"margin-bottom:1.2em;line-height:1.5em=
;font-size:16px">
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span><strong>Later-season filing</strong> is the most common r=
eason. Most established firms start requesting extensions in the final 4-6 =
weeks to the deadline. The larger =E2=80=9Cbig 4=E2=80=9D and regional firm=
s extend as a matter of course even early in the season.</span></li>
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span>Many taxpayers that receive <strong>K-1s</strong> have to=
 extend just because many partnerships do not send the K-1 form until Aug o=
r Sep.</span></li>
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span>Those with <strong>sophisticated returns</strong> or comp=
lexities, such as multiple income sources</span></li>
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span>Clients with a <strong>business </strong>that do not have=
 their<strong> books ready</strong> or others with <strong>crypto</strong> =
that have not finalized their <strong>8949 forms</strong>.</span></li>
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span>Taxpayers that have <strong>prior year issues</strong> or=
 <strong>strategy</strong> that must be addressed but are arriving late-sea=
son, such as situations with prior year depreciation, cost segregation, was=
h sales, state tax allocation questions, letters from the IRS, etc.</span><=
/li>
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span>Essentially, if you have a <strong>late or complex filing=
</strong> &amp; do not have a <strong>plan in-hand</strong> with <strong>cl=
ean books &amp; backup ready-to-file</strong> by March 1st any given year, =
most firms, large and small, will suggest that you post estimates &amp; go =
on automatic extension.</span></li>
</ul>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
"><strong>If it is so great, how come I have not extended before?</strong><=
/p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">I have found that many clients are afraid of the extension process throug=
h not having done one before. We handle the entire process from end to end,=
 so there is nothing to fear. It actually is <strong>highly advantageous</s=
trong> to extend because it allows the return to be filed in the less busy =
period, which opens the door for detailed discussion &amp; tax planning for=
 future years to be completed directly within the context of the same sessi=
on.</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
"><strong>How does the extension process typically work?</strong></p>
<ul class=3D"unordered_list" style=3D"margin-bottom:1.2em;line-height:1.5em=
;font-size:16px">
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span>Client provides documents</span></li>
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span>We will run a rough computation of the return to see if y=
ou may possibly owe</span></li>
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span>We provide estimated tax amount based on the computation<=
/span></li>
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span>You can post that amount, another amount, or none at all.=
 You can have us post the payment or you can do so yourself online at irs.g=
ov/payments</span></li>
<li class=3D"list_item" style=3D"margin-bottom:1.2em;line-height:1.5em;font=
-size:16px"><span>You are all set! Then you hang tight until we get to your=
 return</span></li>
</ul>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">I hope this was helpful and informational! If you have questions about th=
is or need help with any accounting-related task, please contact me by repl=
ying to this email.</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">For <strong>last-minute extension requests</strong>, please let us know b=
y<strong> 7 pm</strong> <strong>Mon evening</strong> at to check for possib=
le open spots. We are past our internal deadline but will do our best, wher=
e possible.</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">--</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">George Dimov CPA</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">www.dimovtax.com</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">(833) 829-1120 toll free</p>
<p class=3D"" style=3D"margin-bottom:1.2em;line-height:1.5em;font-size:16px=
">=E2=80=8B<br>=E2=80=8B</p>
</td></tr></tbody></table>

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