Prepping for Tax Time

 As you prepare your 2013 taxes, here is some information you may find beneficial.

The Center’s Commitment to You

At The Center, our goal is to provide exceptional service and meet your needs as efficiently and effectively as possible. We offer the following commitments and services related to the tax season:

  • Consistent communication about timelines for tax document receipt as that information is available.
  • Assistance in understanding your tax-related questions and coordination of information such as cost basis.
  • Coordination and communication with CPA’s and tax preparers upon your request. We’ve find that sharing and collaborating with your other trusted advisors can have substantial benefit to you.
  • Financial planning and investment management integrated with perspective on tax consequences. If you would like to review or discuss our approach to taxes as it relates to your personal situation, please let us know!
  • 2013 Year-End Tax-Planning Letter

As you complete your taxes for this year, a copy of your tax return is one of the most powerful financial planning information tools we have. Whenever possible, we request that you send a copy of your return upon filing to your financial planner, support planner, or client service manager at the time of filing. Thank you for your assistance in providing this information which enhances our services to you.

IRS Filing Dates

For Tax Season 2013, due to the government shutdown in 2013, the IRS will not start accepting and processing returns until somewhere between Jan. 28 and Feb. 4. This is approximately two weeks later than the standard start date.

Raymond James Tax Reporting.

For the most up to date information on the 2013 Tax Season & Raymond James, visit their tax resource page.

Many 1099’s will be delayed so as to ensure accuracy and reduce the potential for amended 1099’s.

2013 Form 1099 Mailing Schedule

  • February 14 – Raymond James begins mailing “basic” or fully reallocated 1099s
  • February 28 – Second round of original 1099s and first round of amended1099s are mailed

To reduce the number of delayed tax forms due to income reallocation, Raymond James will be utilizing February 15th as its deadline for mailing our first round of original 1099s. This additional time will allow Raymond James to capture further income reallocation and produce additional tax forms that would otherwise been delayed until the 2/28 mailing. 2/15 also aligns with the regulatory IRS mailing date.

Electronic Access to Tax Documents through Investor Access

You can view your tax reports, along with statements for all of 2013, by accessing your account online through Investor Access:

These documents are available in Adobe PDF format, so you are able to print or save them to your own computer. They will be archived in Investor Access for 20 years.

TurboTax users click here for information on importing tax data

Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. You should discuss any tax or legal matters with the appropriate professional.

Melissa Joy, CFP®is Partner and Director of Investments at Center for Financial Planning, Inc. In 2011 and 2012, Melissa was honored by Financial Advisor magazine in the inaugural Research All Star List. In addition to her frequent contributions to Money Centered blogs, she writes frequent investment updates at The Center and is regularly quoted in national media publications including The Chicago Tribune, Investment News, and Morningstar Advisor.

Financial Advisor magazine's inaugural Research All Star List is based on job function of the person evaluated, fund selections and evaluation process used, study of rejected fund examples, and evaluation of challenges faced in the job and actions taken to overcome those challenges. Evaluations are independently conducted by Financial Advisor Magazine. A14-001496