Christmas provides us with a moment to reflect on the love and compassion that Christ’s birth brought into our troubled world.![sharon runner](https://i0.wp.com/scvnews.com/wp-content/uploads/2015/12/unnamed-300x200.jpg?resize=300%2C200)
As we rejoice in the good news of this holy season, I hope your household is blessed with peace, joy and the love of family and friends.
From my family to yours, I wish you a very Merry Christmas and a Happy New Year!
God Bless,
George Runner
Statewide Assessed Property Values Increase
Here’s some good news just in time for the holiday season: Taxable property in California has surpassed $5 trillion.
That’s because there’s been a statewide increase in assessed property values. This increase is an encouraging sign for our economy and for California property owners.
This is the fifth consecutive year the total value of California’s county and state-assessed properties has increased, fueled in large part by the recovery in the state’s housing market.
Selecting a Tax Preparer
Tax season is coming soon, and it’s time to plan ahead for preparing your tax return. Many people don’t want the headache of preparing their own tax return, so they hire someone or use a trained volunteer.
Choosing someone now can help you find out how you may be able to cut your tax bill before the end of the year and what records you will need to complete your tax return.
Here are some tips you should keep in mind when you select a tax preparer:
Select someone who’s honest. You will give some of your most personal information to the person preparing your tax return, including your birthdate, driver’s license number, bank account information, copies of your W-2 and your Social Security number. Make sure you can trust your tax preparer with that information.
Check out the tax preparer’s history.
Use the Better Business Bureau to see if the tax preparer has been reported for bad business practices.
Check with the IRS Office of Enrollment for enrolled agents — tax preparers who are licensed by the IRS and trained to prepare federal taxes.
Check the license status of Certified Public Accountants with the California Board of Accountancy.
Check the license status of an attorney with the California State Bar Association.
Find tax preparers who are approved by the Franchise Tax Board (FTB) to file your tax return electronically.
Ask about service fees. Avoid preparers who base their fee on a percentage of the refund. Be sure any refund due is sent to you or deposited into your bank account, not into your preparer’s account.
Use a tax preparer with a preparer tax identification number (PTIN). Paid tax preparers must have a current PTIN to prepare a tax return. If the tax preparer doesn’t have one, that’s a red flag. Make sure your tax preparer signs your return and includes the PTIN.
Identity theft is a major problem-the Federal Trade Commission received more than 250,000 complaints from California last year. The information you provide to your tax preparer is exactly what’s needed for identity theft. So, make sure your tax preparer safeguards your personal information.
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1 Comment
Sharon Runner is our State Senator. George, her husband, was our former State Senator.