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Prepare Now for Tax Time

As if there isn’t enough going on these days in Berks County and beyond, tax time will be here before you know it. Yes, the deadline is a few months away, but the end of January is the traditional time to gather all your information together because tax forms, such as W-2s and 1099s, should arrive by then. Also, the December 31 deadline for relevant transactions will have passed, so you should have all you need in order to file before the tax filing deadline.

Last year, the filing deadline was extended because of the pandemic, and this year the federal deadline has been postponed to July 15, 2020. Nonetheless, the best time to start preparing is as soon as all pertinent documents are in your hands. COVID-19 restrictions may make it difficult to find help, so be ready. The Law Office of Scott Painter is currently open during normal business hours, and we are available via phone and video as well.

Part of tax preparation is taking stock of, and getting in order, different estate matters and benefit packages. If there have been significant life changes, such as marriage, relocation, job loss, disabilities, donations, etc., these can present a maze that is difficult to navigate. You want to be honest and thorough with your taxes, yet want the maximum refund or want to pay the correct amount. Help may be necessary.

While you are gathering all this information, it would be a good time to review or establish your plans for the future, including the disposition of your assets. How will you divide your assets when you’re gone? What happens if you become incapable of making decisions regarding your health or property? Are there other legal issues that need attention? Think about wills, living wills, veterans benefits, nursing home planning, etc.

The law office of elder law attorney Scott C. Painter, P.C., is located in Wyomissing (outside of Reading, PA, in Berks County,) and offers trusted legal services in the areas of elder law, including nursing home planning, trust and estate services, and veterans benefits. Scott C. Painter is a Certified Elder Law Attorney (CELA®), and he is also a member of the National Association of Elder Law Attorneys (NAELA).

If you have an issue or question, we encourage you to call us. With legal matters, time is of the essence. Your first consultation with us is free! 610-378-5140.