Tag Archives: Tax Season Over

Once Upon a Time there was a Tax Season that just would not Go Away ! … Friday Travels …

We actually look forward to Tax Season……

Rolling up our sleeves and helping everyone with basis finds, forgotten tax deductions, duplicate Social Security withholdings, long lost medical expenses finds ….

Just like the changing of actual season – Welcoming summer now … by the time it is over, we are ready for the next season!

A Tax Season that Would Not End  Uncle Sam

So the traditional April 15th deadline was extended to Monday the 16th since the usual day fell on the weekend… only to be extended another day due to a Holiday conflict, only to be extended ANOTHER day due to technical difficulties.

We warned multiple parties NOT to wire or move money on Tax Deadline day because it was the busiest money moving day of the year … We had no idea the US Government website would go down due to all the activity!

Note to self next year, let’s really be sure to stay away from moving money around tax deadline time.

Either way … We made it!

Now time to begin working through all the NEW TAX laws…. bring em on!

Quick Travel Trip

Today the schedule includes a quick turn around trip, only to return early tomorrow in time for a #1 Seed Tennis Tournament that includes a bye in the first round for the 13 year old … giving just enough time to make the match, assuming the flight is on time …. maybe plenty if the 100% chance of Rain holds …

Oh…the Uber driver is here !

Talk to you next week, we have some great items to talk about…but that is next week … Enjoy your weekend!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.


Good bye “Official” Tax Season … One More Request from us … Friday !

Whew…. it’s officially over…. yaa there will be extension filings (myself included), but for the most part we are DONE !!!!Goodbye

A Request From Us

Before you toss that tax return in the file to collect dust, until next year or maybe longer … PLEASE DO US A FAVOR … Send us a copy.

Taxes and Wills/Estate documents are our most used items.  We review both frequently. With the changing tax laws and certainly more to come, a base line of where we are today is super. If we have your return we can plan better and you will not have to dash to that file if a copy is needed…we can quickly access it electronically!

Thanks very much to most who we already have a copy, but those few who we do not … SEND US A COPY !!!!!

Friday … Spring Friday

Due to the afore-mentioned tax season, Cathy has been off for the last couple of days … Well Done Cathy!!

Next week is back to normal as we are in the midst of earnings seasons (AKA 90 day treadmill) AHHHH….but that is next week..

Enjoy your Friday and your weekend with those special in your life. Talk to you next week !

John A. Kvale CFA, CFP

8222 Douglas Ave # 590
Dallas, TX 75225

Our 5 Findings From 2011 Personal Tax Filing Season

Congratulations, it’s almost over ! The official end of regular tax season transpires in just a few hours, and if you are not completely finished yet, click here to see our last post for the forms you may need to file an extension.

Before the information gets cold and thoughts move on to spring, fun, pools and sun, we wanted to give you a few high points we found interesting this season.

  1. AMT (Alternative Minimum Tax) reared its ugly head more frequently this season.
  2. The new tax basis form did not disappoint, and as such there were delays, confusion and frequent redo’s. (Form 8949 Box A, B, C)
  3. Most returns had more documents and greater length, due somewhat to the new tax basis, never the less contributing to bits of confusion as times.
  4. Wash Sales made several cameo appearances, due to market movement, and reporting issues.
  5. It was a stressful season, unlike any for many years before. Through our communication with individuals, professionals, institutions and reporting agencies, IT WAS MORE STRESSFUL, so do not be frustrated if you felt the same !

Bottom line, if you felt a bit more frustration this year, you were not alone. It was rough from all angles.

The good news…It’s almost over !

Have a Great Day!