Paul Toepel
This time of year, as Tax Day approaches, we get a lot of questions about tax extensions. The largest misunderstanding about extensions is what it actually extends.
A properly filed extension doesn’t extend the time to pay taxes. If you don’t pay the amount due by the regular due date, you’ll owe interest. You may also be charged penalties that can be as high as 25 percent of the amount not paid by April 17, 2018.
At least 90 percent of the total tax on your 2017 return should be paid on, or before, the regular due date of your return through payroll tax withholding, estimated tax payments, or payments made with your extension (IRS Form 4868).
Paul Toepel is a CPA who has lived in Las Sendas for more than 16 years with his wife and two Westies.
His firm Toepel Company PC is a full-service, Mesa-based CPA firm offering a variety of services for more than 30 years.
These services include tax preparation and representation, accounting, fraud prevention and QuickBooks support. Their mission is, “To provide exceptional service, knowledge and experience, all while making you and your business successful.”
People have many choices today when it comes to tax and accounting services. Those include programs like Turbo Tax, QuickBooks and even a few that are free. A lot of people may even try to take it on themselves. When you do that, however, you’re immediately burdened with trying to figure out the many changes in tax law. This once-a-year task can be daunting. You hope your returns are prepared correctly, and that you have not left any of your refund in the hands of the government.
“Today’s tax laws are so complicated that filing even a simple return can be confusing,” Paul stated. “It’s easy to overlook deductions and other advantages someone is entitled to. We work year round to keep up with changing tax laws so you can keep your hard-earned money,” he continued. “Many people underestimate the value of having a professional assist them with tax preparation.”
Many accounting firms today are shipping their tax preparation to foreign countries for completion. This has caused many people to receive tax-related calls from these foreign countries; most of which are fraud. Toepel Company PC prepares all tax returns in-house. Your confidential information is never shared with a third party that could possibly compromise your privacy.
As a Certified Fraud Examiner, Paul is able to distinguish scams from legitimate inquiries. “We always stress, if you ever receive any communication about your taxes, call us first,” Paul said.
“We strive to create value in our accounting and tax services by combining technical know-how with business practicality in all our services and solutions,” he further stated.
Toepel Company PC is located at 2500 S. Power Road. To learn more, visit www.toepelcompany.com, or call (480) 833-8300.