5 Good Reasons to File an Income Tax Extension

With not much time remaining until the April 15 IRS income tax deadline, many Americans are scrambling to finalize their income tax returns. This year, a growing percentage of taxpayers will choose to file an IRS income tax extension, which will postpone their tax deadline to October 15.

If you’re considering filing an income tax extension, you’re not alone. The IRS recently estimated that 10.2 million of the 140 million tax filers will file for a tax extension this year. What’s more, approximately 2 million of those extensions will be electronically filed online.

File Later tax extension service – a popular website where taxpayers can file their income tax extension – compiled the following list of reasons why taxpayers should consider joining the growing trend of taxpayers filing a tax ex tension rather than stress about getting their returns completed by April 15.

Although the IRS doesn’t care (or ask) why millions of taxpaying Americans file for extensions every year, you may find these valuable:

1. Accountants and tax professionals are much busier in April than they are in October. Getting the proper amount of time with an accountant gets harder and harder the longer you wait leading up to April 15. Extending your income tax deadline to October 15 will give your accountant or tax pro that extra time to focus on your tax return, which may mean extra tax savings in your pocket.

2. Filing an income tax extension may reduce your chance of audit. IRS auditors have quotas they need to meet every year on the number of returns audited. Returns are sorted for auditors by filing date, and most auditors will have met their quotas before they get to extended returns.

3. Getting paperwork together to complete your taxes isn’t easy. Organizing that shoebox of W2s, 1099s, mortgage interest statements, and receipts can take longer than you expect. Giving yourself the extra time needed will ensure you’re taxes are done right, and extending will give you extra time to track down any additional deductions so you’re getting the biggest tax return possible.

4. For business owners, funding retirement plans such as Simplified Employee Pensions (SEPs) or SIMPLE IRA’s can be expensive. Filing for an income tax extension will also extend your deadline to fund these types of retirement plans.

5. It’s easy. Your income tax extension can be filed in less than 10 minutes using an online provider like File Later. The process is completely paper-free, and your extension will be e-filed, meaning you’ll get an email confirming the IRS has approved your extension, and you’ll have 6 more months to finalize your tax return.

And remember, even though you may be interested in the reasons to extend your income tax return, the IRS doesn’t care or ask. As long as your application is filed correctly, your extension will be granted by the IRS and your new tax deadline will be October 15.

News and Updates on Reno Commercial Offices

When entering into Reno, you will come across a huge sign that says ‘The Biggest Little City in the World’. Indeed for a city of its size, it is a very busy place. This is because of their gaming industry it is famous for and the birthplace of the well known Harrah Entertainment Corporation. The city of Reno NV, is the fourth most populated city in the state of Nevada with an estimated population of 217, 091 people. It has a fairly high average growth rate of about 16.6 percent. Reno is a desert city set in the foothills of the Sierras. Before the conception of Las Vegas, Reno was the gambling city of the United States.  As the city grew though, leasing a Reno office space has become more common for local companies (cpas, lawyers, medical offices, etc.). However, the gaming industry is still a flourishing industry in this city, gathering tourists there in droves from major cities nearby.  Sparks, Fernley, and the downtown area are other hot spots for businesses to open a location.

Commercial Development / Vacancy Rate In Reno:

New office space and commercial real estate developments in the Reno area have been consistently expanding in the city to help balance the gaming industry – with examples like The Summit and the Legends at Sparks Marina.  Some large corporations have also set up offices here such as the PC-Doctor, Bally Technologies and Braeburn Capital.  Reno experienced it’s worst ever office space vacancy rate this year with an alarming 21% vacancy rate (this includes serviced units, business park listings, private offices, shared and conference rooms, etc.). South Meadows, south of the downtown district was hit the hardest with a rate of 32%. Realtors believe that it will take three to fours years for Reno Nevada to come out this downslide, even though the rest of the nation is showing some improvement in certain areas – to read more on other commercial markets read our office space articles. It is worthwhile to mention here that crime rates in the city are still at a manageable rate of 53 crimes per one thousand residents; violent and property crimes combined.   Like the rest of the country, office space prices and rental rates have plummeted, in some areas and commercial buildings they have seen rates drop by up to 40%.  Of course there are a lot of factors to consider like location, amenities (internet, parking, access, admin, etc.), and lease terms – the longer lease you sign the better deal you will get (6, 12 or 24 months).

Reno Local Economy and Commercial Tourism:

With tourism being its main source of income, Reno city officials have put in a lot of effort to make the city of Reno more diverse with many choice hotels and facilities catering to the visitors’ needs (as Lake Tahoe is only 1 hour away). Large hotel casinos like the Atlantis and Grand Sierra Resort serve as a one stop center where you can find everything under roof (some even offer executive suites for rent, larger conference rooms for company meetings, and full admin support with internet, voice mails, etc.). The Peppermill was actually voted the best hotel casino in the state by gaming magazine readers. There are many annual events that take place here which attract a huge crowd to its city. Some of these are the classic car convention, Hot August Nights, and a motorcycle fan gathering and rally called the Street Vibrations. The Great Reno Balloon Race is held here every year and a lot of people come from all over the United States to watch and enjoy these events. Reno is famous for being used as movie sets made to look like Las Vegas.  For more history and facts about Reno use wikipedia.  Downtown Reno is being turned into an upscale living area with many condominiums coming up. Developers have restyled old buildings into upscale buildings that have increased their value tremendously. The Residences at Riverwalk Towers is one such place.  Overall Reno is a growing city with a demand for office spaces to rent, as the local economy tries to survive the nationwide recession. The nightlife in Reno is vibrant with bars and nightclubs that offer entertainment needs.

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How to choose a tax preparer ? secrets for you

The process of tax payment is the most complicated process in this world. It is not only complicated, its confusing too. For the individual, it is almost impossible to pay tax without any guidance. There are lots of forms that make you crazy when you proceed with the payment of tax. The choice of professional who process your tax payment, is a mind blowing idea. If you are asking that is there anyone who can really process your tax payment, then answer is yes. There are experienced professionals who really make the tax payment easy for you. You can also get tips from the tax preparer – the professions of tax payment that will help you to pay less tax to the government. In this article, you will find tips to choose such tax professionals. Read on the article and get more information about the tax payment. The choice of the tax preparer needs some points to consider. If you are going to pay someone to prepare the tax return for you, you have to choose that person wisely. Recognized by the government: The first thing you should note about your tax preparer is the authority. Your tax preparer must be authorized to prepare tax returns for you. Tax preparer must have the government license to prepare tax returns. Experienced: Experience is really better thing when you are in the field of taxation. When choosing your tax preparer, you must consider the experience of him. The experienced tax preparer can be useful for you to reduce your tax. Popular: The popularity is other strong side of the tax preparer. If tax prepare has many clients, it shows the popularity of him. You should choose popular tax preparer that is well known by the people. Generally, when you choose popular tax preparer, you need not to worry about the authority. If there are many satisfied customers, you can also be one of them. Services according to your need: Any tax preparer must understand the need of the clients. Some times clients get results what they didn’t want. This situation may lead to the broken relationships of client and tax preparer. Be clear about what you want to the tax preparer. If possible, tax preparer will suggest you better way than you told to him. The way suggested by the tax preparer may be most revalent for you. Specialized: There are many types and fields in income tax. Your tax preparer must be expert in the field of tax in which you will pay tax. The specialization of the tax preparer in one or more area is an important requirement. Affordable: Your tax preparer must be affordable! The fees of the tax preparer must be in your budget. The payment should be done completely after the complete process of payment of tax. Most of the tax preparer charges according to the amount of tax to be paid and the fees are all most affordable. When you choose tax preparer for you to prepare tax payments, you need to consider the above points. These points will help you in the choice of the right tax preparer.

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