Read This Before Trusting Your Tax Filing To A Kansas City Tax Professional

Read This Before Trusting Your Tax Filing To A Kansas City Tax Professional

Listen, I know how hard it is to move from one tax professional to another.

Which is why I would like to take a minute here to address YOU, if you are someone who hasn’t yet made the decision to use our services.

After all, we’ve helped many Kansas City taxpayers “make the switch” over to us for tax filing, year after year. And I know that you’ve probably established a rhythm with your current provider (even if it’s not a “good” rhythm), and that you could dread the prospect of having to “teach” a new tax accountant about your finances and goals.

Which is why this strategy note would be for you. (And if you’re already using us for tax filing, then you can safely ignore this particular message, and skip to the end where I do have a short request for current clients.)

Many people are pulling together their paperwork to deliver to their preparer these next couple weeks (the IRS tells us that overall tax filings are WAY down compared to years past)… and before you do that with your existing preparer, I’d like to give you a reason to try us out.

I’d rather not “bad mouth” other tax accountants in the Kansas City area, but suffice to say that we’ve had to do our share of re-doing other tax accountants’ work. In some cases, we’ve recovered significant sums during an amendment process by reviewing an old return (from the last 3 years), and taking advantage of ethical and legal tax credits and deductions that other accountants don’t utilize.

Current clients:
to help earn the trust of others as we grow our client base, 
we have one request of you…

Well, perhaps two.

Would you:

A) Write about how our team has helped you in the past? You can find us on Google, and we’d love to have your feedback!

https://goo.gl/maps/TvkTWqUdarA2

(And if for some reason you weren’t satisfied with our service, please write me back through the email button at the top of the page personally. I will do everything within my power to make it right, and will make it a priority, even this week.)

If you haven’t filed your taxes with us before…

Find us on that platform to read about other client experiences in the past. The proof is in the internet-review-pudding. We’d love for you to be next in line.

https://goo.gl/maps/TvkTWqUdarA2

B) Would you forward this note to anyone you think would benefit from help with their taxes? Especially if it’s someone you think would prefer to file with a personable touch.

You can let him or her know we are willing to review their old tax return (or even this year’s) to make sure that everything was done right for them. They can call us anytime at (913) 693-7984 and mention you referred them. We’re excited to hear from some of your Kansas City friends and family.

We can’t wait to take a look at what we can do for your return … it is, after all, what we do best.

Warmly,

 

Kyle Nagy

(913) 693-7984

KPN ENTERPRISES LLC

Do Not Procrastinate Tax Filling In 2020 by Kyle Nagy

Do Not Procrastinate Tax Filling In 2020 by Kyle Nagy

Have you met with us yet?

The Super Bowl and the Oscars are over. The IRS has been accepting electronically filed returns for a couple weeks now.

Which means, well … it’s about to get real. We are getting busy around here at Team KPN ENTERPRISES LLC.

Which is why I have mentioned a few times the importance of filing early. Do not procrastinate tax filing this year. Do not put it off.

Get after it. Now.

 

I want you to play the tape forward.

It’s the day before Tax Day, April 14th, and other taxpayers around you are scrambling. My phone will be going wild of course, and my email inbox will overheat … but I’ll take pleasure knowing you’re enjoying the space that our services provide for you — sipping on something delicious and enjoying the turn of Spring.

How good will it feel to know you took care of business a month or two before? (Keep me in your thoughts when that time comes, please.)

This is why we’re here! To help you process tax season. No matter what happened last year.

Every year, tax season brings us dozens of gifts in the form of great people like you. We get to use skills that we’re passionate about to help you handle something you … might NOT be passionate about.

You have unique gifts and passions, and need to be doing things that drive you. That’s why we love what we do: we get to free you up to be your best self.

Verbal affirmation keeps us going, so we encourage you to keep it coming. If we’ve helped you in the past, thank you for your generous feedback! It really means the world to us.

Simply put, we can’t express enough how grateful we are for your trust in us. We don’t take that lightly.

Now, to help earn the trust of others as we grow our client base, we have one request of you…

Well, perhaps two.

If you have filed your taxes with us before, would you:

A) Write about how our team has helped you in the past? You can find us on Google, and we’d love to have your feedback!

https://goo.gl/maps/TvkTWqUdarA2

If you haven’t filed your taxes with us before…

Find us on that platform to read about other client experiences in the past. The proof is in the internet-review-pudding. We’d love for you to be next in line.

https://goo.gl/maps/TvkTWqUdarA2

B) Would you forward this note to anyone you think would benefit from help with their taxes? Especially if it’s someone you think would prefer to file with a personable touch.

You can let him or her know we are willing to review their tax return to make sure that everything was done right for them. They can call us anytime at (913) 693-7984 and mention you referred them. We’re excited to hear from some of your friends and family.

So again…

Fast forward to a month or two from now, when you’ll be relaxing, knowing that TODAY you took the steps toward financial responsibility for the good of you or your family, that you saved a bunch of money on your taxes, and (perhaps even better) that you didn’t have to deal with the dirty tax details. At the end of the day … that’s our job.

Lucky for you, we happen to love it. 🙂

With gratitude…

Warmly,

 

Kyle Nagy

(913) 693-7984

KPN ENTERPRISES LLC

All People Are Tax People by Kyle Nagy

All People Are Tax People by Kyle Nagy

… except, well … when they aren’t. Or when they have a question. Or when they have to deal directly with the IRS (yikes). Or when they have any kind of complications in their return. Or … I could go on, but you get the point.

The Super Bowl is behind us (congrats KC and coach Andy Reid), which means that the biggest ADVERTISING event of the year is also behind us. One of my favorites was the MC Hammer “Can’t Touch This” Cheetos ad, but I’m also kind of a throwback, so, there it is.

And, of course, you see the big brand tax softwares pouring millions into their ads for the game, as usual. (Makes you wonder where they get their millions. Oh, that’s right — on the backs of normal Kansas City taxpayers. But I digress.)

Yes — I am not an unbiased observer of such things. These ads promote our “competition”. Though, truth be told, we get more Kansas City clients who were frustrated software users the previous year than from almost any other source. (So: keep spending those millions, big brands!)

But bias aside, I do find it funny, the messaging: “All people are tax people! (But we also have a fleet of CPA’s on call that you can wait in line to talk to because it’s actually not true that all people are tax people, so we have really good help for you once you figure out that not all people are tax people.)”

How about this: you let US be your “tax people” and you just sleep like a baby, knowing that every possible legal, ethical and bottom-line-saving deduction is deployed on your behalf.

That sounds better, yes or yes?

Moving on — because I also want you to understand that we would like to be even more than just your “tax people”. We want to walk with you through whatever life throws your way.

So, I have thoughts.

All People Are Tax People by Kyle Nagy

“If you focus on results, you will never get change. If you focus on change, you will get results.” – Jack Dixon

Here’s an exercise worth doing, especially now that we’re here in tax time.

Get a piece of paper and make a list of all the things you want to do during your lifetime — no matter how crazy or undoable some of those things might seem. If you want to go on an African safari and become a famous gorilla researcher, then write it down. If you want to sip coffee at a Left Bank café in Paris, then by all means, put it on your list.

Include all the seemingly mundane things you want to do, too. Do you want to spend more time with your children, your spouse, or your parents? Write it down. Don’t hold back. Be as wild and daring as you want to be. Let yourself dream big.

Once you have finished the above exercise (and not necessarily in the same sitting) take another piece of paper and ask yourself, “If I had a million dollars in the bank that was exclusively for me — and I had no responsibilities and knew I would not need the money in the future — how would I choose to spend a perfect day?”

Maybe you want to write a novel, talk to a friend, or own a ranch and raise goats. Whatever it is, write out your perfect sort of day. These are not necessarily the big event things you want to experience, but your idea of your perfect day of living. Again, don’t hold back.

People are often surprised at how powerful these two exercises are.

How do they help you?

They help you articulate your ACTUAL big dreams. They help you see clearly where your priorities reside. And they help you see how far away you are from, or how close are you to, your dreams and your more ideal daily existence.

And once you know that, then you can lay out a plan that lets you use your precious time for what you really want in life.

This can be really fun, if you let it be so. Shut off your cynicism, take fifteen minutes … and send me an email through the link at the top of the page about your experience with it.

I’d love to help you formulate a financial plan to get there.

And, of course, let’s talk about this during our tax meeting. Because however we get there … it will be taxed.

So, let’s minimize that, shall we?

Warmly,

 

Kyle Nagy

(913) 693-7984

KPN ENTERPRISES LLC

A Guardian Plan For The Unexpected by Kyle Nagy

A Guardian Plan For The Unexpected by Kyle Nagy

This is the week the real work begins. The IRS started electronically accepting returns on Monday (the 27th), and our offices have already been hopping.

As I’ve mentioned before, it’s a GREAT idea, this year of all years, to get a jump on your taxes. I won’t rehash all the reasons, because some Kansas City people are still waiting on a bunch of paperwork. We get that. But did you know that we can still start the process for you, even without all of your paperwork? Shoot me an email through the email link at the top of the page if that interests you, or call us: (913) 693-7984

Now here’s the thing — all of this can seem so … petty, in light of the “real world” crowding into our attention. The news on Sunday of Kobe Bryant’s death has shaken many people, perhaps because of his fame, and that many people feel like they “knew” him (and of course, many actually did).

But it brings home to me, and probably to you, how quickly life can turn. No matter what kind of financial comfort his now-widow might receive, I’m guessing she and her daughters would trade all of it just to have their husband and daddy back.

All of us around here are holding our loved ones close this week.

The unexpected can strike at any time.

Are you and your family prepared?

A Guardian Plan For The Unexpected by Kyle Nagy

“The self is not something ready-made, but something in continuous formation through choice of action.” – John Dewey

The death of a public figure that all of us “know” seems to hit especially hard when there are children and family involved. And that’s because when most parents think about what frightens them most, seeing their children in a vulnerable position pretty much tops the list.

What exacerbates this further is knowing the fear which children themselves feel when they are surrounded by people they don’t know, and aren’t sure what to expect from what their parents have set up for them, should the unthinkable occur.

Put the following steps into place, and you’ll eliminate at least some of these dangers…

Make A Real Guardian Plan

Did you know that 74% of parents have not (LEGALLY) named guardians? Worse, of the 26% who have, most have made 1 of 6 common mistakes that leave their kids at risk.

When you name short- AND long-term guardians for the care of your children, you must give clear guidance to your caregiver and everyone you’ve named to care for your children, in written form. Just by naming these guardians (both short- and long-term), your children never have to be put in a situation in which they would be taken out of your home and into the hands of strangers if something happens to you.

An even better step, if your children are old enough for this discussion, is to tell them this plan. Don’t make a big deal of it … you don’t want to frighten your kids at the prospect of your loss. But they’ll feel better knowing that you’ve selected people they can trust and love to care for them well.

Ensure That The Proper Legal Steps Have Been Taken

Parents often have discussed and agreed upon a guardian for their children and have even made their wishes known to their families; however, not documenting these decisions can result in your wishes not being followed when it really is too late.

You see, if you don’t communicate your wishes in a legally-binding document, you are placing your children in a “free for all”. Without clear legal guidance, every family member has equal priority of guardianship. The decision about the care of your children will be left in the hands of a broken-down court system and some judge who doesn’t know you or your kids.

This legal documentation is particularly important if you intend for a friend to care for your children, as courts will almost always choose a family member over a friend.

Also, don’t forget to leave behind specific guidance about how you want your children raised. Education decisions, healthcare decisions, discipline decisions … these are all things you care a lot about and would want to be consistent with your opinions for how your kids are raised.

Consider Financial Futures

Sure, there are different schools of thought on this issue. Some parents don’t want to overwhelm their children with too much in their bank accounts at once, which is understandable.

But, regardless of how you structure this provision, providing sufficient financial resources for your children’s care is your responsibility. And, as a responsible parent, you must take steps to protect what your children will receive … whether it’s through life insurance, savings or some other means.

To do so, establish a living trust, to receive any life insurance benefits your children would receive, so that they don’t get complete access to your assets at the age of 18; and make sure your living trust holds on to the title to any assets that would go through probate in the event of your death. And, if your estate is large enough, you will want to think through a wise strategy for handling the tax side of things as well (which, of course, we can help with).

All of these issues are things we can provide direct input to, or refer you to a trusted source if need be. So if you haven’t yet set any of these items into place, you can call us ((913) 693-7984) and say you want to discuss it during your tax meeting and we’ll be in touch just as soon as we’re able.

And remember — just because we’re busy, doesn’t mean we don’t care!

To your family’s financial and emotional peace…

 

Kyle Nagy

(913) 693-7984

KPN ENTERPRISES LLC

How To Plan For Retirement by Kyle Nagy

How To Plan For Retirement by Kyle Nagy

 

The IRS is set to begin receiving tax returns on the 27th.

That means, it’s about to get VERY busy around here. Which is exactly how we like it.

We’ve been preparing since the summer for this year’s tax return process, integrating all of the nuggets we’ve been unearthing within the “new” (as of last year) tax code that we now operate under, and we are pretty excited about putting our knowledge to work on behalf of our clients.

So, again: there are many good reasons to get in here as early as possible. I covered them last week, but briefly:

  1. Get your (potential) refund sooner
  2. Peace-of-mind to get the paperwork monkey off your back
  3. Get ahead of the fraudsters
  4. Make any plans to get any amount owed handled without being in scramble-mode
  5. Get a jump on using the entire 2020 calendar year for effective tax planning (to save even MORE next year)
  6. Get a good spot on our calendar before it gets full!

That’s a bunch of good reasons.

Now when we DO meet with our clients, we are picking through history — we are helping you sort through your 2019 and make sure that the numbers match … AND, of course, that YOU are able to take advantage of every possible legal and ethical method to hold on to your hard-earned dollars (or sometimes receive a nice bump in your supply from a refundable tax credit).

But we also like to spend time future-casting.

That means that we get to be ones who dream with you — ones (beside you and your spouse) who focus not just on accurately recording “history” but also about the real-world implications for what life will look like down the line.

And when we do this, it makes me wonder if financial counselors do the same thing with retirement?

In fact, I know that some of them do.

But, on the chance that your particular financial planner only pays attention to the numbers, and doesn’t help you evaluate some of the other components of your retirement situation, here’s a few ideas for some practical things you can do.

Would you add anything to this list? I’d be interested in your comments…

How To Plan For Retirement by Kyle Nagy

“It takes as much energy to wish as it does to plan.” -Eleanor Roosevelt

When you’ve hit a certain stage of life, you shouldn’t just plan for retirement, you should rehearse for it. 

Because retirement can last multiple decades, it’s more important than ever that “pre-retirees” (those who plan to retire in five to seven years) practice how they want to live without work as the organizational focus of their lives.

Test different living-style options

For example, many Kansas City people dream of selling the family home and traveling in an RV or going abroad. Practice this by renting a camper and going on the road for a long vacation. You may discover that travel is exhausting or boring to you.

The same holds true for relocation dreams. Rent a home where you think you may want to retire to see if it really is where you’d like to move. The weather may not suit you, or the community may not be your cup of tea. Work out these details before you commit to an expensive change.

Get your marriage prepared

Most couples spend much of their early years working and, thus, spending much of their time apart. It may take some time to get used to the other person’s schedule, habits, and routines.

Make sure you can live on a set budget

Most Kansas City retirees’ income is significantly less than their preretirement income. Add up all the Social Security benefits, pension income, and 401(k) and IRA savings to calculate what you can realistically expect to live on each month. Then live on that amount for a month to determine what changes, if any, you need to make to your plans.

I hope this all helps! Again, we’d love to dream-plan with you about this when we see you this year, even if just for a few minutes while we look over your return information.

But just know that even if that conversation isn’t something you’re ready for, we’ve got your taxes covered.

To your family’s financial and emotional peace…

 

Kyle Nagy

(913) 693-7984

KPN ENTERPRISES LLC

 

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