Letter to Clients and Friends

Dear Clients and Friends:

B & R Tax Accounting Service would like to wish all of you a safe and happy holiday season! We always appreciate your business and continue to strive to help you in any way we can. Important updates and new things here are:

  • We celebrated Jim’s retirement in June and are very happy for him and his wife in their move to Utah. He regretfully did not have the opportunity to say goodbye to everyone as he would have liked to do. Please accept his apologies, if he did not get the chance to speak with you personally. We would like to reassure you that your files and documents remain at B&R Tax and hope that you will continue to put your trust in us to handle your accounting and tax preparation needs.
  • We are excited about Cecilia and Danna joining our team. Please check out our website so you can learn more about them at www.bandrtax.com.
  • SecureFilePro portal introduction – a safe and convenient way to upload and send or receive sensitive documents, messages, access pdf copies of historical tax returns from 2019 and forward. Integrated with our tax preparation software, we are introducing a special introductory membership for $10 per year. 

Following are some items that are more pertinent issues whether new or carryovers from last year from the Trump Administration’s Tax Law Changes affecting 2019 Returns.

  • For 2019 the standard mileage rate was 58 cents per mile.
  • Health Insurance requirement has been discontinued for 2019. However, if you obtained insurance through the Marketplace commonly referred to as “Obamacare” insurance, you must present a 1095-A form for processing your personal tax return prepared for proper Premium Tax Credit calculation.   
  • For tax year 2019, ALL W-2’s and 1099’s MUST be filed with the government and sent to the employees and subcontractors by January 31, 2020.
  • 2019 Tax Due Dates

Partnership, LLC and S-Corporation tax returns will be March 15, 2020

C-Corporation, SchC sole proprietor and Personal tax returns will be April 15, 2020   

  • Real Estate Tax Bills with personal residence PIN are required to ensure proper credit of IL Property Tax Credit on Schedule ICR for Personal IL returns.

It is our sincere hope that you will continue to put your trust in B&R Tax Accounting allowing us to handle your accounting and tax preparation needs. We remain a full service, year round firm in the same location as always. Other tax updates and reminders follow on the back page, please feel free to pass a copy of this letter along to your employees as B & R will be happy to assist them in the preparation of their tax returns.

Best wishes to you all for a successful and Happy New Year in 2020!