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Tax Preparation

Tax Preparation Begins and Ends With You

Thinking about taxes, preparing for tax time, and juggling all the receipts and statements are enough to drive anyone – Crazy! We would like to help you to be prepared. After all, you work Hard For Your Money, and you Deserve someone to work hard for you, so that you don’t leave money laying on the table (with the government) and NOT with you.tax help 4

Handy Forms “That Apply To You” – to Build the Foundation for Your Tax Preparation

 W2 for reporting wages
 1099 for reporting interest and dividends
 1099B for reporting stock and bond sales
 1040 for self-employed/individual income tax returns
 4868 (IF you file your taxes late) is an application for an                                      automatic extension of time to file

• Knowing How Exemptions Work for You

  The personal tax exemption for 2015 is $ 4,000
 You are allowed to claim one personal exemption for you and one for your spouse, as long as                   neither of you are claimed as a dependent on someone else’s returns.
 You are also allowed to claim one exemption for each dependent, even if the dependent                          files a return (exceptions may apply)

• Deductions That MATTER The Most!

  Standard deduction for individual taxpayers is $ 6,300
 Standard deduction for married & filing jointly is $ 12,600
 Standard deduction for head of household is $ 9,250
 Retirement / Savings Contributions (e.g. IRA) $ 5,500 (with $1,000 additional for 50 and older)
 Student loan interest (Up To) $ 2,500

• Tax Credits. Do They Apply to You?   taxes 7

 Child tax credit  
 Dependent care credit
 Adoption credit
 Education credit
 Energy improvement credit
 Foreign paid tax credit
 Earned income tax credit

• The Choice Is In Your Hands On – How To File

 Professional (Done-For-You) Tax Preparer
 Standard Deductions
 Itemized Deductions

On-Time Filing Deadline – April 15th

WARNING: Only claim deductions you can prove!

 Keep Receipts
 Have Your Bank and Credit Card Statements in Order
 Don’t Claim Anything Your Don’t Have Record Of