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.

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 exemption for tax year 2019 remains at 0, as it was for 2018, this elimination of the personal exemption was a provision in the Tax Cuts and Jobs Act.

Deductions That MATTER The Most!

  • Standard deduction for individual taxpayers is $ 12,200

  • Standard deduction for married & filing jointly is $ 24,400

  • Standard deduction for head of household is $ 18,350

  • Retirement / Savings Contributions (e.g. IRA) $ 6,000 (with $1,000 additional for 50 and older)

  • Student loan interest (Up To) $ 2,500

Tax Credits. Do They Apply to You?

  • 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

  • e-File

  • Professional (Done-For-You) Tax Preparer

  • Standard Deductions

  • Itemized Deductions

On-Time Filing Deadline – April 15th, 2021

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