What do I need to bring when I am having my taxes
prepared?
Following is a list of the more common
items you should bring if you have them. Wage
statements (Form W-2) Pension, or retirement income
(Forms 1099-R) Dependents' Social Security numbers
and dates of birth Last year's tax return
Information on education expenses Information on the
sales of stocks and/or bonds Self-employed business
income and expenses Lottery and/or gambling winnings
and losses State refund amount Social
Security and/or unemployment income Income and
expenses from rentals Record of purchase or sale of
real estate Medical and dental expenses
Real estate and personal property taxes Estimated
taxes or foreign taxes paid Cash and non-cash
charitable donations Mortgage or home equity loan
interest paid (Form 1098) Unreimbursed
employment-related expenses Job-related educational
expenses Child care expenses and provider
information And any other items that you think may be
necessary for your taxes.
How do I find out about my refund?
The best way is to use the Check Your Refund link from the
Resources pages of our website! To look up the status of your
federal or state refund, you will need your social security
number, filing status, and exact amount you’re
expecting back.
Is my social security taxable?
Usually if your income including social security benefits is
less than $25,000 if single or $32,000 if married, your
benefits are not taxable. If your income is higher than those
limits, there are formulas to determine what percentage of
your social security is taxable. Currently up to 85% of your
social security may be taxable.
How long do I keep my records and tax
returns?
You should keep your records and tax returns for at least 3
years from the date the return was filed or the date the
return was required to be filed, whichever is later. It is
recommended that you keep these records longer if
possible.
How should I keep records for my business
driving?
Keep a log in your vehicle and record the purpose and mileage
of each trip. You also need to record the odometer readings
at the beginning and end of each year, as the IRS will ask
you for total miles driven during the year. Keep your repair
bills as these normally record odometer readings when the car
is serviced.
What college expenses may I deduct?
There are several ways you can claim deductions for college
expenses on your tax return. They are the tuition deduction,
the HOPE credit and the Lifetime Learning Credit. If we are
preparing your return we will determine which ones you
qualify for and which one gives you the greatest tax
benefit.
What is the child tax credit?
The child tax credit is a credit of $1000 per child from the
IRS. In order to qualify the child must: 1. Be under 17 at
the end of the tax year 2. Be a citizen of the United States
3. Be your child 4. Live with you for more than half the year
5. Not be treated as the qualifying child of someone else