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Mission Statement:

We believe in the value of relationships. We view every client relationship like a partnership, and truly believe that our success is a result of your success.

We are committed to providing close, personal attention to our clients. We take pride in giving you the assurance that the personal assistance you receive comes from years of advanced training, technical experience and financial acumen. Our continual investment of time and resources in professional continuing education, state-of-the-art computer technology and extensive business relationships indicates our commitment to excellence.

A Note to our Clients

The mileage rates for 2009 are 55¢.

The mileage rates for 2010 are 50¢

Everyone at Stoner Jeffers & Associates wants to wish you and your family a Happy Holiday and a great New Year. First, Dan will be back for tax interviews this year, though at a slightly reduced schedule. He enjoys meeting with you and looks forward to this part of tax season.

Now for the confusing part of the current tax scene. We had received notice during the summer that there could be problems with the 2009 California withholding tables that would cause many taxpayers to be under withheld. Then, shortly before we started to write this letter, the State of California decided to change the tables again and start withholding more from every paycheck. Where any individual taxpayer stands, it is now hard to say. Right now would be a good time to check your state withholding to see if you might have a larger than expected state tax bill at the end of the year.

Any changes at the federal level in the tax law will be hit or miss. With many changes in the health care legislation affecting the tax laws, this may be the only 2009 tax law changes that we will see. Keep in mind that absent Congressional action, after 2010 the tax brackets above the 15% bracket will revert to their higher pre-2001 levels. That means the top four brackets will be 39.6%, 36%, 31% and 28%, instead of the current top four brackets of 35%, 33%, 28% and 25%. Also, in the new bill the is a 5.4% tax surcharge levied on modified adjusted gross income over $1 million in the case of a joint return starting in tax years beginning after 2010.

To put it simply, year-end planning is important this year in determining when to take income, minimizing your tax liability over a number of years and planning for the tax bill at April 15.