Straight Talk About Taxes

What Your CPA Wishes You Already Knew

No jargon. No judgment. Just the stuff that saves you time, money, and awkward phone calls with your tax advisor.

Apr 15
Federal Deadline
6 Mo
Extension Available
$0
Cost to Be Organized
Headaches Avoided
GET ORGANIZED  ·  RESPOND TO YOUR CPA  ·  STOP IGNORING IRS LETTERS  ·  KNOW YOUR DEADLINES  ·  ASK BETTER QUESTIONS  ·  GET ORGANIZED  ·  RESPOND TO YOUR CPA  ·  STOP IGNORING IRS LETTERS  ·  KNOW YOUR DEADLINES  ·  ASK BETTER QUESTIONS  ·  GET ORGANIZED  ·  RESPOND TO YOUR CPA  ·  STOP IGNORING IRS LETTERS  ·  KNOW YOUR DEADLINES  ·  ASK BETTER QUESTIONS  · 
The Basics
Things That Are True
Whether You Like Them Or Not
01
Timing

Your CPA has hundreds of clients

Tax season is a sprint. The more organized you are when you hand things over, the faster your return gets done. Disorganized clients get done last.

02
Extensions

An extension is not a payment extension

Filing an extension gives you more time to file — not more time to pay. If you owe, you still owe by April 15. Penalties and interest start the day after.

03
Communication

Ignoring your CPA costs you money

When your advisor asks a question and you go silent for two weeks, your return sits in a pile. Every delay is a potential penalty or a missed deadline.

04
IRS Notices

IRS letters don't go away

Ignoring a notice does not make it disappear. It escalates. Forward every IRS or state notice to your advisor the day you get it — even if it looks minor.

05
Fees

Last-minute work costs more

Dropping a shoebox of receipts on your CPA in April is expensive. Getting organized in February — or better, year-round — is where you save real money.

06
Records

You need to keep records. Period.

The IRS can audit returns up to 3 years back — 6 years if they suspect significant underreporting. "I didn't keep receipts" is not a defense.

The "Don't Show Up Empty-Handed" Checklist

This is what your CPA needs from you before they can do anything. The more of this you have ready upfront, the faster and cheaper your return gets filed.


This list covers the most common items. Your situation may require more. When in doubt, send it — let your advisor sort it out.

  • W-2s from all employers
  • 1099s (interest, dividends, freelance income, brokerage)
  • 1098 mortgage interest statement
  • Social Security numbers for you, spouse, and dependents
  • Prior year tax return (if new to your CPA)
  • Estimated tax payments made (federal and state)
  • Business income and expense records
  • Health insurance coverage documentation (Form 1095)
  • Charitable donation receipts
  • Property tax statements
  • Records of major asset sales (real estate, stocks, crypto)
  • Student loan interest statement (Form 1098-E)
  • Bank routing and account number for direct deposit
Deep Dives
Guides Worth Reading
Before You Call
📬

Got an IRS Letter?

Don't panic. Most IRS notices are routine. Here's how to read one, what it actually means, and what to do next.

📅

Deadlines That Actually Matter

April 15 is not the only date on the calendar. Quarterly estimates, extensions, state deadlines — here's the full picture.

💼

Self-Employed? Read This First

Freelancers and business owners play by different rules. Quarterly taxes, deductions, entity structure — the basics you need to know.

💬

How to Actually Work With a CPA

Expectations, communication, what's billable, what's not — a plain-English guide to getting the most out of the relationship.

Software That Makes
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FAQ
Questions CPAs Answer
One Hundred Times a Year
Do I need to file if I didn't make much money?
Maybe. Filing thresholds depend on your age, filing status, and income type. Even if you don't owe anything, you may be required to file — and you could be leaving a refund on the table if you don't. When in doubt, file.
What's the difference between a tax deduction and a tax credit?
A deduction reduces your taxable income. A credit reduces your actual tax bill dollar-for-dollar. Credits are generally more valuable. Example: a $1,000 deduction might save you $220 in taxes. A $1,000 credit saves you $1,000.
Can I deduct my home office?
If you're self-employed and use part of your home exclusively and regularly for business, yes. If you're a W-2 employee working from home, no — that deduction was eliminated in 2018. The rules are specific, so don't guess on this one.
What happens if I miss the April 15 deadline?
If you owe money and miss the deadline without filing an extension, you'll face a failure-to-file penalty (usually 5% of the unpaid tax per month) plus interest. If you're getting a refund, there's no penalty — but why wait?
How long should I keep my tax records?
Generally, 3 years from the filing date. 6 years if you underreported income by more than 25%. Indefinitely if you filed a fraudulent return or didn't file at all. Keep records for assets (real estate, investments) until you sell them, plus the standard period.
I got a letter from the IRS. Should I be worried?
Not necessarily. Most IRS notices are informational or are requesting minor clarification. The important thing is not to ignore it. Read the letter carefully, note any response deadline, and forward it to your tax advisor immediately. Do not call the IRS without talking to your CPA first.
Why does my CPA keep asking me for the same documents every year?
Because tax preparers aren't allowed to reuse prior-year documents — they need current-year versions. They're not being difficult. Get your documents organized and send them in a single batch rather than one at a time over several weeks.
This site is for general informational purposes only. Nothing here is legal or tax advice. Consult a qualified tax professional for advice specific to your situation.