Tax Season News
We hope everyone is having a great start to the new year! As we launch into 2025, we want to alert our clients about upcoming action items and remind everyone about our name change.
Our tax organizers will be mailed out soon to all individual clients. Be on the lookout in the next few weeks for a large envelope from Hark Maskarinec, PC. These envelopes contain tax forms to provide us with important information about you, as well as the client organizers to help you start capturing the information we need to prepare your returns. We will upload these forms and organizers to your secure client portal in addition to the blank sets posted on the forms tab on our website. You can upload these completed forms and other supporting documentation to us through your client portal. The deadline to get your documents to us is March 14, 2025, otherwise your return will be placed on extension.
For clients that issue 1099’s or require payroll, it’s time to start preparing. Please make sure your 1099 and/or payroll information is in to us by January 17th. Keep an eye out on your emails for communication from us on the process to get these prepared for you to distribute by January 31, 2025.
A reminder of the email we sent out in December-our firm name is now officially Hark Maskarinec, PC. Our website and email addresses have been updated to reflect this new name. While we will still be reachable under the old name, we recommend that clients update email contacts to reflect the new name. Please also keep in mind when paying invoices that our payment link has updated. Checks can still be made out to Hark and Associates, PC- stay alert for the email notification for when this will change.
The IRS increased the standard milage rate for business use, which started on January 1st.
o 70 cents per mile driven for business use (up 3 cents from 2024).
o 21 cents per mile driven for medical purposes.
o 21 cents per mile driven for moving purposes for qualified active-duty members of the Armed Forces.
o 14 cents per mile driven in service of charitable organizations.
At Hark Maskarinec, PC, we are here to provide high quality service with the highest ethical standards in the business of CPA firms. As we dive into the tax season, we ask that clients please carefully read email communications from us and to reach out with any questions via phone call or email.