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  • Welcome to the 2018 Tax Filing Season!

  • Welcome to the 2018 Tax Filing Season!

    Happy New Year from Monarch Financial Advisors!!

    Are you prepared for an interesting tax season? MFA is here to make the transition to the new process as painless as possible.

    Congress has passed the Tax Cuts and Jobs Act, TCJA, creating new provisions that will be reported for the first time on your 2018 tax returns. New sections have been added to the Internal Revenue Code, while almost none were removed. The Code started in 1913 with around 27 pages. Today it contains over 4 million words and thousands of pages. (Not counting the tens of thousands of additional pages of notices, rulings, regulations, announcements, and case law.)

    We have heard from many clients already regarding the promised “postcard” tax returns that are supposed to lead to simpler filing. This form however can only be used by those whose income consists primarily of wages, dividends and interest. Many of our client’s tax returns include LLCs, partnerships, S-corporations, rental activities, significant deductions, capital investments and self-employment. For these clients, the TCJA generally lowered taxes, but has made the process of filing more complex. Some simple returns have become easier to prepare, but some relatively complex ones became much more difficult and time-consuming.

    Due to the complex changes in the tax law we’re going to have to do extra work to provide the most accurate tax returns possible. We at Monarch ask that you please be patient while we put your returns together because we are also navigating the new tax laws.

    MFA is encouraging our clients to gather and submit your documents and book your appointment as early as possible. This will allow us the time needed to properly prepare your returns. We have developed several strategies to help reduce your tax liability for 2018.  The sooner we can get started on your returns the better!

    Please use the attached tax planning guide included in this email. It provides details on the TCJA changes.

    If you require a personalized tax organizer to prepare for your appointment, email or call the office so we can provide one for you.

    Monarch Financial Advisors appreciates the opportunity to serve you and we look forward to seeing you soon.


    Jessica Mertens


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